MEMOPay Payment Solution Launched to Reduce Fraudulent Chargebacks

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Costa Mesa, California–(Newsfile Corp. – December 1, 2022) – MEMO Financial Services, Inc. has recently launched MEMOPay, a payment method they will roll out to merchants seeking to reduce their exposure to fraudulent chargebacks.

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MEMOPay Logo

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With the dramatic increase in online sales, credit card issuers and retailers are searching for ways to reduce the increasing prevalence of fraudulent chargebacks while still providing consumers with a seamless customer experience.

The trend toward online sales is increasing – and the rate of this increase is accelerating. According to the U.S Commerce Department, online sales reached a historic high of over $790 billion in 2020 – more than a 32.4% increase over 2019, which had increased 15.2% over the previous year. But, this increase in online sales has come with a cost – a corresponding increase in fraudulent chargebacks, otherwise known as ‘friendly fraud.’

MEMOPay enables merchants to accept cards without the cost of chargebacks… 
Even if that merchant doesn’t accept credit cards today.

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MEMOPay enables merchants to accept cards without the cost of chargebacks…

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Increasingly, fraudulent chargebacks are causing some merchants to elect to stop accepting credit cards. While this decision reduces their risk of fraudulent chargebacks, it also reduces their sales – as customers are forced to pay through a cash transfer or debit card.

Conrad has recently launched such a solution called MEMOPay.

“MEMOPay is an electronic money order that functions the same as a cash or debit card transaction,” Conrad said. “It eliminates friendly fraud because consumers can no longer dispute the charge unless they can demonstrate that the use was unauthorized, and in this case, MEMOPay would bear the cost of this loss.”

MEMOPay has positive implications for both consumers and retailers, emphasizing transparency. Retailers will no longer be exposed to online fraud by consumers who charge back purchases and resell items online for cash. And consumers will be empowered to buy only from merchants who have a clear, honest return policy.

How Does MEMOPay Work?

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MEMOPay diagram displaying the flow of work.

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It is a simple process that provides a safe and secure alternative payment product for online merchants and their customers.

“There are three key goals with MEMOPay,” Conrad said. “Mitigate the impact of friendly fraud on all businesses, empower consumers to use their credit cards for large purchases, and lower the costs of goods for consumers, who ultimately bear the cost of friendly fraud.”

Conrad and his partners have recently launched MEMOPay, and are working to educate retailers and consumers about the dangers of friendly fraud – and how they can protect themselves.

Through partnerships with high-quality merchants and fraud prevention entities, MEMOPay intends to become a leading alt-payments solution focused on reducing friendly fraud.

Conrad says, “What we are working on has the potential to fundamentally change the retail experience, getting back to the basics. Pay a fair price, get a fair product.”

MEMOPay is a product of MEMO Financial Services, Inc. MEMO provides more than $1 billion of financial services to millions of consumers annually. Core products include money orders, bill payments, and prepaid card services, delivered through more than 3,400 agents across a 23-state footprint.

MEMOPay has just announced its beta-launch to understand the underlying market for its services better.

“We are looking to partner with a select number of high-quality, established businesses with a clear customer-dispute resolution policy,” Conrad said.

MEMOPay is partnered with its marketing agent Secure Merchant Solutions, Inc. Accordingly, merchants interested in using MEMOPay should contact its marketing agent at, or email Steve Doll, Chief Financial Officer, at

Contact Information:
Name: Steve Doll
Company: Secure Merchant Solutions/ MEMOPay
Address: 151 Kalmus H3, Costa Mesa, CA 92626

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