Chargeback Gurus Announces ARI: Industry's First Predictive Analytics Engine for Preventing First-Party Misuse Chargebacks
DALLAS, December 1, 2022 — Chargeback Gurus, a global leader in chargeback risk mitigation services for e-commerce and retail businesses, today announced the launch of ARI, a cutting-edge chargeback prevention solution that provides predictive insights for first-party misuse and sends alerts for transactions that have a higher chance of being disputed.
First Party Misuse chargebacks have been a major challenge for both e-commerce and retail merchants. According to Fraud.net, merchants lost $4.8 billion to first-party misuse in 2020, the most recent year for which data is available. Chargeback Gurus estimates that upwards of 70% of chargebacks are caused by first-party misuse. Merchants who don’t take steps to mitigate this risk can lose up to 10% of their total revenue.
Currently, merchants have no way to reliably determine which transactions are likely to be disputed due to first-party misuse. Identifying this gap in merchants’ fraud and chargeback protection, Chargeback Gurus has once again pioneered a visionary new technology to help merchants more effectively mitigate risk. ARI is an AI-driven predictive analytics engine that uses data gathered from millions of chargebacks to identify transactions that have a higher chance of being disputed. This information allows merchants to prevent revenue loss by blocking these transactions or requiring additional authentication.
“Chargeback Gurus has consistently led tech-based innovation, with a keen focus on enhancing business value to our customers,” said Damodharan Sampathkumar, Chief Product Officer for Chargeback Gurus. “We believe that ARI will create a ground-breaking shift in the payments industry. ARI not only detects high-risk transactions but also recommends a course of action based on its analysis. By customizing our algorithms to account for industry-specific challenges rather than having a generic model, we’ve achieved phenomenal results so far in effectively identifying transactions that are prone to first-party misuse.”
“Our subject-matter expertise, our decades of experience across various industries and our drive to find solutions for our merchants’ pain points have led us to develop this industry-first technology,” said Suresh Dakshina, President & Co-Founder of Chargeback Gurus. “Existing chargeback prevention alerts are only triggered after the buyer has disputed the charge. In addition, these alerts can only prevent a chargeback if a refund is issued immediately. ARI provides a more effective solution for merchants to minimize first-party misuse without losing revenue to constant refunds. In order to better serve merchants’ needs, we also built ARI with low-code/no-code integration in mind to minimize the resources needed for implementation.”
About Chargeback Gurus
Chargeback Gurus is a global fintech company helping businesses fight, prevent and win chargebacks and has recovered over $2 billion for their clients. As trusted advisors to credit card networks and Fortune 500 companies, the Gurus are known for their expertise in the areas of risk management, chargeback mitigation, fraud prevention and dispute intelligence.
The Gurus have won numerous awards and accolades, including multiple Stevie Awards and being named in the Inc 5000 Fastest-Growing US Companies list multiple times. Chargeback Gurus' mitigation strategies have helped thousands of merchants increase customer retention, improve brand satisfaction and drive repeat purchases. Chargeback Gurus can augment in-house staff or manage the chargeback process end-to-end. For more information, visit www.chargebackgurus.com or email win@chargebackgurus.com.
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