Chargebacks911, the leading dispute technology specialist that powers chargeback remediation for the largest global eCommerce businesses as well as the world's financial institutions, today celebrates achieving the milestone of full automation using its AI-powered robotic emulation tool. The software dynamically adapts through learned behaviors and algorithms, dramatically improving response times and optimizing data driven decisions related to chargebacks representments, pre-arbitrations and responses.
Through Chargebacks911’s proprietary data connection hub, these plug-and-play integrations afford the same streamlined connectivity as more traditional API offerings, but for a fraction of the up-front cost. Based on their most recent assessment, these technological breakthroughs produced 98% turn-key automation – a first in the industry, and an increase by nearly 20% over the last 12 months alone.
Chargebacks are rapidly increasing at an exponential rate, and merchants simply cannot afford to ignore the issue. Even if chargeback volume remains static for the next year, current data suggests that global costs to simply manage this influx will reach $117.47 billion by 2023. Due to the dynamic nature of payments and the ever-evolving datasets, traditional IT resources are in short supply. As a prescription to support merchants in tackling the growing complexities and challenges of dispute management, pioneering technology must continue to innovate. Chargebacks911 continues to raise the bar for this effort, now making it possible for virtually any stakeholder to transition with ease, from old to new.
“Our mission has always been to develop the best technological innovations to fix the chargeback process, helping merchants mitigate losses, recover chargeback costs and save time,” says Chargebacks911 Chief Product Officer Eric Deraspe. “One key to this is utilizing the power of AI robotics, which dramatically increases automation without the dreaded burden of more complex integrations. This in turn boosts the speed of resolution for everyone involved, improving the customer experience on all sides. We're proud to have achieved an industry first goal for our clients and it’s one that we’re still pushing the envelope on.”
“Our unified platform has become a trending concept in the market, which has served us well for inspiring continuous innovation,” adds Chargebacks911 COO Monica Eaton. “While some service providers offer limited options, or rely heavily on manual resources; our motto is to ‘Challenge the Status Quo.’ It’s never about finding a better version of the old way of doing things, or conforming to an acceptable standard out of ease. For us, innovation is about creating something new, that’s truly better, faster, more intelligent, multi-dimensional, and ultimately scalable.”
Automation is changing the world and automation of chargeback management is at the heart of Chargebacks911’s DNA. By continuing to enhance its technology suite, we have achieved the 98% milestone now – accomplishing a goal that was originally targeted for the end of 2022 and continuing to lead the industry in the process.