Mastercard and Salesforce have announced a new integration that promises to strengthen trust across the ecosystem, speeding up the resolution of transaction disputes and ultimately, reducing costs.
According to Mastercard's report, the number of chargebacks could reach 337 million by 2026, signaling an increase of 42% compared to 2023. Chargebacks and disputes occur when consumers report unrecognized transactions to their banks.
Starting from today, the new integration will streamline the way issuers, such as banks and other financial institutions, manage transaction data and provide a quicker way to respond to dispute inquiries. By integrating Salesforce's Financial Services Cloud (FSC) with Mastercard's dispute resolution services, including Ethoca Alerts, the consumer data will be accessible to every bank agent and team member working on a dispute. Powered by the Einstein 1 Platform, FSC provides more visibility into the customer journey from start to finish, improving the overall experience.
“Technology is helping to speed up and improve the checkout experience, especially when shopping online. However, every disputed transaction can create stress for the consumer as well as resource pressures and increased costs for merchants and financial institutions. Through this partnership, we are adding to the tools that make it easier and faster for banks and merchants to resolve disputes, further enhancing trust in the ways they choose to pay,” said Johan Gerber, Executive Vice President, Cyber and Intelligence at Mastercard.
Mastercard has its own solutions to combat fraud and handle chargebacks - Ethoca Alerts and Ethoca Consumer Clarity. Ethoca Alerts provides near real-time notifications when a financial institution raises a chargeback while Ethoca Consumer Clarity offers rich merchant and purchase insights to issuer back-office teams.
“Our partnership with Mastercard is a testament to our shared vision of using trusted data and innovative technology to streamline processes and deliver great customer experiences through the Einstein 1 Platform. Together with the Mastercard team, we're reimagining the entire transaction dispute process, bringing together the power of Salesforce's CRM, data, and AI with Mastercard's dispute resolution, to deliver an end-to-end solution that will benefit both our joint customers," said Eran Agrios, Senior Vice President and General Manager for Financial Services at Salesforce.
