Mastercard and Salesforce have recently partnered to enhance trust across the ecosystem by addressing transaction disputes more efficiently. As consumers seek easier and safer shopping experiences, this integration aims to speed up the resolution of transaction disputes and reduce associated costs.
Disputes and chargebacks, where consumers notice unrecognized transactions and request chargebacks from their banks, pose a significant challenge to the payments industry. Projections suggest that by 2026 there could be 337 million chargebacks annually, an increase of 42% from 2023 levels.
The integration will streamline the way issuers, like banks and other financial institutions, view and manage transaction data, such as disputes and decisions. It will enable a quicker, more efficient and transparent response to dispute inquiries.
The partnership will integrate Salesforce’s Financial Services Cloud (FSC) with Mastercard's dispute resolution services, providing a powerful one-stop-shop for intake, managing disputes, reporting and preventing chargebacks.
Mastercard’s services include Ethoca Alerts, which provides near real-time notifications when a financial institution raises a chargeback and Ethoca Consumer Clarity, enabling the provision of rich merchant and purchase insights to issuer back-office teams.
Powered by the Einstein Platform, FSC unifies customer relationship management (CRM), AI, merchant and consumer data, development, and security capabilities into a comprehensive platform. Every bank agent and team member working on a dispute gains better visibility from start to finish, leading to an improved customer experience.
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| Image ~ Salesforce.com |
Disputes and chargebacks, where consumers notice unrecognized transactions and request chargebacks from their banks, pose a significant challenge to the payments industry. Projections suggest that by 2026 there could be 337 million chargebacks annually, an increase of 42% from 2023 levels.
The integration will streamline the way issuers, like banks and other financial institutions, view and manage transaction data, such as disputes and decisions. It will enable a quicker, more efficient and transparent response to dispute inquiries.
The partnership will integrate Salesforce’s Financial Services Cloud (FSC) with Mastercard's dispute resolution services, providing a powerful one-stop-shop for intake, managing disputes, reporting and preventing chargebacks.
Mastercard’s services include Ethoca Alerts, which provides near real-time notifications when a financial institution raises a chargeback and Ethoca Consumer Clarity, enabling the provision of rich merchant and purchase insights to issuer back-office teams.
Powered by the Einstein Platform, FSC unifies customer relationship management (CRM), AI, merchant and consumer data, development, and security capabilities into a comprehensive platform. Every bank agent and team member working on a dispute gains better visibility from start to finish, leading to an improved customer experience.
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