News and resources on payments systems, innovations and initiatives worldwide.

Justt applies AI to chargeback mitigation

Source: Justt

Justt, a chargeback mitigation innovator, today announced the launch of a new suite of machine learning powered capabilities designed to revolutionize the way merchants navigate the complex landscape of chargeback management.

These innovative features focus on augmenting merchants' visibility into and control over the process of tackling chargebacks, thereby transforming the paradigm of chargeback management from a reactionary process to a proactive strategy.

By harnessing actionable intelligence, Justt's solution can be utilized across various departments that are affected by chargebacks. Finance teams benefit from win rate predictability, gaining insights into trends and patterns that can help optimize their financial strategies. Operations and payments teams are empowered with performance explainability, enabling them to understand and improve the dynamics of their processes that influence chargebacks. Meanwhile, the data point value indicator enables engineering and product teams to conduct a cost-benefit analysis of providing additional data points to evidence submission for chargeback cases.

"Justt's new features reflect our commitment to addressing chargebacks as a holistic organizational challenge,” said Ofir Tahor, CEO and co-founder of Justt. “Harnessing our AI, we're empowering clients to not only boost their win rates but also glean actionable insights that can improve their business health by transforming their internal business processes and decision making.”

Details on the three new product offerings:

• Win rate predictability leverages advanced algorithms to analyze past and present chargeback data and equip merchants with accurate win rate predictions for each 120-day chargeback cycle. By offering these insights, it empowers businesses to make informed cash flow and accounting decisions, better anticipating the future revenue that will be recovered by Justt.

• Performance Explainability utilizes data science technology to provide merchants with insights into the root causes of win rate fluctuations and pinpoints high-impact factors affecting chargeback outcomes. Analyzing these variables properly can yield actionable insights to be used in improving different aspects of the business, such as fraud rules and end-user flow.

• The Data Point Value Indicator furnishes data-driven recommendations for optimizing chargeback win rates with better evidence. By systematically prioritizing the need for additional data points based on their projected impact on chargeback reversal success, informed by ongoing industry benchmark analysis and AI insights, merchants can balance the benefits of providing these data points against data security and engineering costs. This feature allows merchants to build a strategy that both maximizes dispute success rates and ensures cost-effectiveness and security.

These new features strengthen Justt’s position as a data-driven holistic chargeback management solution provider. Now data is not only being used internally by Justt to improve the solution and win rates, but it is also being used to provide customers with insights to improve their own accounting processes, reduce legitimate chargebacks, and provide clarity when making decisions on where to invest resources that affect chargebacks.

Comments: (0)