Digital payments + fraud + inflation = potential disaster without an automated dispute management solution

“As the rapid uptake of digital payments has sky-rocketed over the last year, so has fraud. Tack on inflation and you now have businesses that are cash strapped and forced to divert resources to monitor for fraud manually, which can directly impact revenue streams and overall customer experience. Working with a provider that understands and adheres to industry regulations is key to preventing fraud before processing a payment.

“With digital payments, fraudulent transactions are on a rise, and the struggle is real when it comes to disputing a transaction. During a lengthy dispute process customers aren’t just potentially losing money; they’re losing trust in companies as well. With the help of a payments provider that offers an automated dispute management solution, disputes do not have to be a struggle. In fact, they can be seamless, automated and efficient for both the customer and the businesses.”

Comments from Sukanya Madhavan, head of product management and engineering – Payments SSU at CSG