Artificial intelligence may be about to usher in a new level of sophistication and ease for payments sales agents.
Purpose‑built for chargebacks, the Chargeback Agent service from Findustry AI equalizes the ability of merchants to manage their chargebacks.
On the merchant side, large merchants often have teams of employees managing disputes, but smaller ones do not, Razi says. Chargeback Agent is for merchants of all sizes, he says, but may benefit smaller ones the most. “Often they are not even responding to disputes by deadline,” Razi says. Small businesses are drawn in multiple directions daily, and payments is just one piece of their oversight duties.
Once a merchant is alerted to a new dispute, staff enter the Findustry AI portal, which can be built into an acquirer’s portal, and view it. Chargeback Agent collects the evidence from the merchant, and, because the AI service has been trained on the card‑network dispute rules, it knows the specific evidence to collect for each reason code, eliminating the manual‑review step. Findustry AI uses APIs, a programming code to enable disparate platforms to exchange data, to supply transaction data to Chargeback Agent.
From there, the agent drafts a response letter using text that has been proven to produce favorable outcomes. Merchants can review, edit, or approve the response with one click. Submitting the response is the third step. Findustry AI says every human edit to all the responses is fed back into the AI engine so it can learn.
Merchants can customize how much autonomy they want to give Chargeback Agent, Razi says. For example, a merchant can designate Chargeback Agent to handle all elements of disputes of less than $300, but require a human review for those of higher value. Findustry AI products are available through payment facilitators and ISOs.