Visa, a global leader in digital payments, has released six new dispute resolution tools aimed at tackling the high cost and complexity of traditional dispute processes.
The expanded suite of dispute resolution services is designed to help merchants and financial institutions cut administrative costs, reduce fraud-related losses and redirect those resources toward growth, innovation and customer experience.
In a statement released by Visa, Vice President/Cluster Head, Visa West Africa Andrew Uaboi, said: “Disputes put strain on every part of the payments ecosystem, frustrating consumers, while driving cost and complexity for merchants and financial institutions. When outdated technology cannot keep pace, fraud goes undetected. Our expanded suite of dispute services gives clients the visibility they need in serving customers, launching new products and growing their businesses.”
The Visa Dispute Resolution Network streamlines pre-dispute handling so merchants can resolve potential disputes before they escalate, accelerating resolution, and reducing operational burden. Complementing this, the Visa Dispute Recovery Manager manages disputes with GenAI responses and providing win prediction scoring to maximize recovery, through automation. Additionally, Order Insight helps prevent unnecessary disputes by surfacing transaction details to clear up confusion over legitimate charges.