Riskified announced further expansion of its Dispute Resolve platform that streamlines chargeback operations for merchant teams, particularly as they face the typical surge in chargebacks after the holidays. The solution leverages expanded gateway and artificial intelligence integrations to auto-compile and format compelling evidence for every chargeback, saving teams time and enabling them to dispute more chargebacks. A credit card chargeback is a process by which a card owner contests a purchase directly with their issuer, which can force a merchant to reverse the transaction.

This process can be abused by a consumer who makes a legitimate purchase, but then falsely claims harm or fraud in order to obtain a refund. To recover the revenue, chargeback managers must evaluate the legitimacy of a chargeback, and dispute the false claim by gathering and submitting ?compelling evidence?. However, the process for compiling compelling evidence and disputing chargebacks is often a manual, time-consuming process, fragmented over several platforms. The result is that the majority of merchants recover less than half of chargebacks, according to a forthcoming study by Riskified.

Built to streamline and speed up revenue recovery, Dispute Resolve empowers merchants to centralize and manage all chargebacks, harness automation to minimize manual effort, and customize workflows to enhance existing operations. Using Riskfied?s Dispute Resolve platform, merchants can efficiently manage many of the manual processes that are typically associated with the chargeback dispute process. For example, merchants can automatically gather intelligence about the individual's purchase history and their order details before deciding which chargebacks to dispute.

After building their case, merchants can submit their dispute to issuing banks automatically and monitor the status of those disputed transactions in real time. Additionally, merchants can leverage customized and optimized compelling evidence letters for their disputes. Early results show that merchants may be able to boost chargeback win rates by as much as 35% by switching to Riskified.

Along with the ability to view all of their data and results in one consolidated dashboard, merchants using Dispute Resolve can achieve superior performance and savings.