Kount, an Equifax company, revealed its Kount Dispute and Chargeback Management Solution, which links major card brand dispute and alert platforms with artificial intelligence (AI)-fueled fraud prevention. The offering stops chargebacks and sales losses from happening through a solution and dashboard, according to an announcement.
“The Kount Dispute and Chargeback Management Solution is a game-changer for businesses engaged in eCommerce. Combined with Kount’s AI and Identity Trust Global Network, businesses have unprecedented access to true end-to-end chargeback prevention,” Brad Wiskirchen, Senior Vice President and General Manager of Kount, said in the announcement.
Companies harnessing the Kount Dispute and Chargeback Management Solution can consolidate chargeback management platforms. To that end, companies can control, act on and resolve alerts from different sources in a single location as they happen. In addition, Kount’s integrations helps companies deflect chargebacks and disputes as soon as shoppers start them.
Also, companies can enhance the customer experience, as shoppers receive a better view into orders and preserve the relationship with the company. They can also simplify the reimbursement workflow, as web hooks that have been constructed ahead of time match transactions with alerts so that companies can refund purchases without intervention.
In addition, companies can harness chargeback and dispute information to modify policies inside of their antifraud solutions and stop policy abusers prior to the next transaction. They can also save sales and remedy disputes prior to the time that they become chargebacks by working with issuing banks.
Consumer Clarity and Ethoca Alerts from Ethoca, a Mastercard company, are being delivered as part of the Kount Dispute and Chargeback Management Solution, according to a separate announcement.
In one case, Consumer Clarity provides detailed retailer and purchase data such as retailer names and logos, itemized digital receipts and purchase location information to cardholders in addition to financial institution (FI) call center and back-office staff. The product takes away “transaction confusion,” which is a top factor in disputes and chargebacks, according to the announcement.
Additionally, Ethoca Alerts lets retailers identify and remedy shopper disputes through almost instant communication with the shopper’s issuing bank in lieu of weeks later through the usual chargeback workflow.
As reported in March, the trend toward the digital-first economy during the last year has meant that all firms have become omnichannel by necessity. And following this wave of digital commerce in the wake of the pandemic, one of the effects might be a flood of chargebacks.
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