As consumers seek easier and safer shopping experiences, Mastercard and Salesforce announced a new integration to enhance trust across the ecosystem, helping customers speed up the resolution of transaction disputes, and reduce costs associated with resolving them.
Disputes and chargebacks, where a consumer notices a transaction they don’t recognise and requests a chargeback from their bank, represent a significant challenge to the entire payments industry. Projections suggest that by 2026 there could be 337 million chargebacks annually, an increase of 42% from 2023 levels1.
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.
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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.
The data from these services is now being fed into FSC so that every bank agent and team member working on a dispute has more visibility from start to finish and delivers the best customer experience.
FSC is powered by the Einstein 1 Platform, which unifies customer relationship management (CRM), AI, merchant and consumer data, development and security capabilities into a single, comprehensive platform.
SOURCE: Mastercard