What is Real-time Resolution?

Alex ForbessAnnouncements2 Comments

Automation used to be a luxury. Now, it’s a necessity. Our journey turned into a revolution when we wanted to give merchants the tools for automated dispute management. We are still learning in how to make it better. And that’s what makes the Chargeback App adaptive to the card networks’ rules and issuers’ guidelines. After we made automated dispute management a reality, we laid the groundwork for our next objective: offer Real-time Resolution to merchants across industries, no matter the size or scale of their business operation.

At first, Real-time Resolution was a feature with no grounded pillars. That all changed when we understood why this feature is crucial for merchants. Our understanding was Real-time Resolution can help you Lower Your Dispute Ratio, Increase Your Win Rate, and Save and Repurpose Lost Time. This post will explain how these three pillars stand with Real-time Resolution. But first…

What is Real-time Resolution?

Real-time Resolution allows merchants to provide customer, order and product detail to Visa’s dispute management platform—Visa Resolve Online (VROL). This information is combined with the related Visa transaction data. And it’s made available to the dispute analyst at the cardholder’s issuing bank. This enhanced level of detail equips the dispute analyst to make better decisions on whether to let a cardholder file a dispute claim. If that’s the case, the dispute analyst can make more accurate choices on what type of dispute should be filed. This level of customer, order and product detail is not normally made available until well into the dispute process. Here’s how Real-time Resolution works in motion.

Real-time Resolution Scenario

Real-timeRes: Explained

  1. Cardholder contacts their card issuer and is connected to Dispute Analyst.
  2. Dispute Analyst conducts a VROL-Transaction Inquiry.
  3. VROL recognizes the merchant as a Chargeback client and generates a Real-time Resolution Inquiry.
  4. The Chargeback App renders a response* containing customer, order, product and related detail within seconds.
  5. Response detail is provided to the cardholder by the Dispute Analyst.

*Optionally, the response can include a customer credit notification. This is great when merchants want to credit the cardholder prior to receiving a chargeback.

This level of order detail and customer account information is not normally made available until well into the dispute process. Invalid disputes can be avoided when the dispute analyst has this information before a decision is made to file a dispute claim.

And there are more positives that can follow. Merchants will receive notifications of dispute activity related to the disputed purchase. Dispute activity includes:

  • Fraud Reporting
  • Dispute Initiation
  • Stop Payment Orders
  • Negative Exception File Listing

Real-time Resolution Enhancements

Merchants will be able to implement decisions based on customer, order and product data when responding to real-time inquiries. This gives them more precise control when issuing credits. Moreover, this data will be included in the inquiry response via VROL.

How Do The Three Pillars Stand With Real-time Resolution?

Philosophically, the three pillars stand as the framework for Real-time Resolution. It’s a fortunate coincidence that these pillars also offer practical benefits to merchants. Here’s how each pillar stands in dispute management.

Lower Your Dispute Ratio

Real-time Resolution is designed to prevent disputes from being filed. Not only will that lower your dispute ratio, but it will also lower your chargeback ratio. As a result, you can expect to be in a much better standing with the card networks, acquirers and issuers.

Now that Visa has streamlined its dispute process with Visa Claims Resolution, invalid disputes such as friendly fraud will be more manageable to prevent. The existence of Real-time Resolution will only solidify Visa’s new initiative taking into effect.

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Increase Your Win Rate

In addition to Real-time Resolution, the Chargeback App is will equipped to auto-generate responses when needed. The App also extracts data related to a disputed transaction. And it does so in accordance of the card networks’ rules and reason codes. In other words, the basic data elements you’ll need to respond will be presented in real-time. All that’s left is for you to gather compelling evidence that will further strengthen your case—and increase your win rate.

Save and Repurpose Lost Time

Dispute responses are great exercises to prove your innocence. But it eats up time for you to focus on what matters: your business. Real-time Resolution allows you to save and repurpose the time you would be spending on a response. Our clients wanted software and tools that would visualize their situation and help them make informed decisions. Real-time Resolution give you the control to do just that.

Where Did I Go From Here?

That’s something you’ll have to decide. It doesn’t have to be now or even tomorrow. But here are some options for you to consider. From left to right (or from top to bottom for our mobile audience), you can either contact us to learn more about Real-time Resolution or see your price when subscribing to Chargeback. You can also request a demo in order to experience this feature for yourself. We’ll continue to help, no matter which path you take.

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