The two main benefits are increased win rate and labor cost savings. The small business owner doesn’t know the Visa reason codes, the defense requirements and evidence needed. The AI agent knows on their behalf.
Findustry AI founder Jonathan Razi has a new idea for merchants that he says will help them automate management of nettlesome card chargebacks.
Chargebacks have become a headache for merchants with customers increasingly trying to get their money back for purchases, including in cases of “friendly fraud” where they keep goods and services they receive, but dispute the charges.
As a longtime payments professional, Razi, who is also CEO of Findustry AI, had an idea in 2024 to help merchants better manage chargebacks. He also had the industry contacts, thanks to his past experience leading another payments company called CardX, to form a small team in the Chicago area that could create an AI tool to address the merchants’ pain point.
CardX, which helped merchants integrate surcharge systems for payments, was sold in 2021.