Making Life Easier: Mastercard and Salesforce announce new integration to transform transaction disputes

May 16, 2024 | New York, NY

Mastercard and Salesforce are teaming up to simplify how transaction disputes are handled, making the process faster and cheaper for everyone involved.

Understanding the Issue

When you see a charge on your bank statement that you don't recognize, you might ask your bank to reverse it. This process is called a chargeback, and it's a big headache for banks and merchants (the people selling you things). By 2026, the number of these disputes is expected to rise by 42%.

The New Integration

Mastercard and Salesforce have created a new system to help banks manage these disputes more efficiently. Here’s how it works:

- Streamlined Process: Banks and financial institutions will have a more straightforward way to see and handle transaction disputes.

- Better Tools: The system combines Salesforce’s powerful customer service platform with Mastercard's tools for managing disputes.

Key Features

- Ethoca Alerts: These alerts notify banks quickly when a chargeback is requested.

- Ethoca Consumer Clarity: This service provides detailed information about purchases to help banks understand the transaction better.

Benefits

- Speed: The integration allows banks to resolve disputes faster.

- Transparency: Banks will have a clear view of the entire dispute process, from start to finish.

- Customer Experience: Consumers will have a less stressful experience when disputing a charge.

Expert Insights

Johan Gerber from Mastercard says this technology speeds up and improves the online shopping experience by making dispute resolution easier and more reliable. Eran Agrios from Salesforce adds that this partnership aims to use advanced technology to make handling disputes smoother for both banks and consumers.

Availability

The new system is now available for Salesforce’s Financial Services Cloud customers. More details can be found on Salesforce's and Ethoca's websites.

Source: Mastercard Newsroom and Salesforce News and Insights