Analysts say Visa Inc. and MasterCard Inc. are using tech, regulatory changes and strategic acquisitions to eliminate friction in the chargeback process.
But a significant achievement in frictionless chargeback is predicted to occur when the two card brands open real-time interaction between card issuers and retailers.
The Power of Real Time Issuer-Merchant Engagement
Analysts say real-time engagement between these two parties will allow retailers to give card issuers more comprehensive details about a disputed charge and item’s bought than they do now. Discussing chargebacks is easier in real-time because the issuer can tell faster if a chargeback is worth or …Read More