COO Points to Data Integrity as Major Problem for Merchant Chargeback Management
Chargebacks911 COO Monica Eaton, one of the world’s leading experts on chargebacks and fraud management, was quoted in a recent feature for The Green Sheet.
The Green Sheet has provided original coverage of important and emerging issues in the ever-evolving payments industry since 1983. They were the first publisher to focus exclusively on the payment industry's ISO and merchant-level salesperson channel. Today, they continue delivering breaking industry news, interactive discussions, and more.
Contemporary eCommerce moves at a mind-blowing pace. Merchants must rely on close collaboration between human expertise and machine learning to keep up. However, as Monica points out, data integrity can be a major roadblock in this process.
"The crux of the problem with chargebacks is preserving data integrity," she says, noting that bad data will inevitably lead to inaccurate impressions and decisioning. “This becomes challenging when not everybody uses the same words, when there are different languages being used and different interpretations of rules, which creates layers and layers of complexities."
The key to solving this issue lies in training AI models more effectively. This is the only way for the technology to really achieve what merchants need from their machine-based partners. This may call for looking to outside expertise if necessary.
"With COVID driving digital transformation across industries and companies and AI helping to streamline operations, more companies are looking for service providers that satisfy their needs so they can focus on becoming more competitive and selling to more customers," Monica said. "It may sound a bit cliché, but it comes down to dollars and cents. Merchants and acquirers need to understand their costs so they can make the right decisions."
