Mastercard and Salesforce have announced a new integration aimed at enhancing the transaction dispute process.

This collaboration seeks to provide consumers with a safer and more efficient shopping experience by streamlining the resolution of transaction disputes and reducing associated costs.

The new integration will combine Salesforce’s Financial Services Cloud (FSC) with Mastercard’s dispute resolution services, including Ethoca Alerts and Ethoca Consumer Clarity.

This collaboration will allow for a more efficient and transparent dispute management process, providing financial institutions with real-time notifications and detailed transaction insights.

By incorporating these services into FSC, bank agents and team members will have comprehensive visibility over disputes from start to finish, ultimately improving the customer experience.

Transaction disputes and chargebacks, where consumers request refunds for unrecognised transactions, pose a significant challenge to the payments industry.

Estimates suggest that by 2026, there could be 337 million chargebacks annually, a 42% increase from 2023 levels.

The integration is available immediately for Salesforce FSC customers.

Johan Gerber, Executive Vice President, Security and Cyber Innovation at Mastercard said,

“Technology is helping to speed up and improve the checkout experience, especially when shopping online. However, every disputed transaction can create stress for the consumer as well as resource pressures and increased costs for merchants and financial institutions.

 

Through this partnership, we are adding to the tools that make it easier and faster for banks and merchants to resolve disputes, further enhancing trust in the ways they choose to pay.”

Eran Agrios, Senior Vice President and General Manager for Financial Services at Salesforce said,

“Our partnership with Mastercard is a testament to our shared vision of using trusted data and innovative technology to streamline processes and deliver great customer experiences through the Einstein 1 Platform.

 

Together with the Mastercard team, we’re reimagining the entire transaction dispute process, bringing together the power of Salesforce’s CRM, data, and AI with Mastercard’s dispute resolution, to deliver an end-to-end solution that will benefit both our joint customers.”

Featured image credit: Edited from Freepik