Digital trust and safety specialist Sift has announced new integrations and capabilities for its Dispute Management product. This provides merchants with a more accurate, efficient, and effective way of managing chargebacks.
The integrations with PayPal and Adyen allow Dispute Management customers to ingest chargeback data, dynamically deliver disputes according to network requirements, confirm dispute response delivery, and view win/loss outcome updates.
According to Sift, customers have already benefited from significantly reduced fraud rates and higher order acceptance rates by leveraging both Payment Protection and Dispute Management.
Sift is also introducing new machine learning models to Dispute Management. This includes access to automation capabilities that allow customers to proactively fight—and win—disputes.
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Sift Response Recommendations: ML-powered engine optimises dispute responses
One of those capabilities is Response Recommendations. This is an ML-powered recommendations engine that identifies opportunities to optimise dispute responses. In turn, this increases the likelihood of winning disputes and retaining lost revenue.
“Chargebacks have become increasingly difficult to fight and win for merchants,” said Neeraj Gupta, Sift Chief Technology Officer. “With disparate rules and updates for each card network, like Visa’s Compelling Evidence 3.0 update, fraud teams need to streamline how they respond to and successfully fight disputes. The combination of Payment Protection and Dispute Management allow them to do just that.”
“Sift Dispute Management has made it faster and easier to respond to chargebacks. Effective integration between Sift, our payment processor, and our own internal tools has improved a once labour intensive process into an efficient, automated system,” said Taylor Snyder, Manager of Risk & Compliance at online bill pay company, Doxo.
“This keeps labour costs low while leveraging all available chargeback prevention tools in one platform.”
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By GlobalData
