Mastercard and Salesforce have partnered to simplify transaction dispute resolution processes across the payments space. This partnership aims to address disputes and chargebacks, which have long been a major challenge for merchants and financial institutions.
Integration of dispute management
According to the press release, projections indicate that chargebacks could rise by 42% by 2026. Thus, the integration between Mastercard and Salesforce seeks to simplify how issuers such as banks and financial institutions handle transaction data and decisions by leveraging the private financial services cloud With Salesforce and Mastercard. Dispute resolution services.
“Technology helps speed up and improve the payment experience, especially when shopping online,” said Johan Gerber, executive vice president of cyber security and innovation at Mastercard. “However, every disputed transaction can create pressure on the consumer as well as the supplier, pressure and increased costs on merchants and institutions.” Finance, we are adding tools that make it easier and faster for banks and merchants to resolve disputes and enhance confidence in the methods they choose to pay.
A key feature of this integration is the ability to simplify the handling, management and reporting of disputes, thus enabling faster and more transparent responses to customer inquiries. Mastercard's suite of services, including Ethoca Alerts and Ethoca Consumer Clarity, provide near-real-time notifications and insights to issuer back-office teams to enhance the dispute resolution process.
Enhance customer experience
Powered by Einstein 1, Salesforce Financial Services Cloud is a unified platform for CRM, AI, and data capabilities. According to the two entities, the latest integration enables banks and financial institutions to leverage reliable data and innovative technology to deliver exceptional customer experiences and streamline operations.
“Together with the Mastercard team, we are reimagining the entire transaction dispute process. Combining the power of Salesforce's CRM, data and AI with Mastercard's dispute resolution provides a comprehensive solution that will benefit our mutual customers.” added Eran Agrios, Senior Vice President and General Manager of Financial Services at Salesforce.
This article was written by Jared Kirui at www.financemagnates.com.
