Justt , a chargeback mitigation innovator, has launched a suite of ML-powered capabilities designed to improve the way merchants navigate the landscape of chargeback management. These features are aimed at increasing merchants' visibility and control over the chargeback management process, hence shifting the paradigm of chargeback management from a reactive to a proactive strategy.

Justt's solution, which uses actionable intelligence, may be used across several departments that are affected by chargebacks. Win rate predictability benefits finance teams by providing insights into trends and patterns that might assist them optimise their financial plans. With performance explainability, operations and payments teams may better understand and optimise the dynamics of their processes that drive chargebacks.

Meanwhile, the data point value indication allows engineering and product teams to assess the cost-benefit of adding more data points to evidence submission for chargeback instances. Details on the three new product offerings Win rate predictability analyses previous and present chargeback data to provide businesses with reliable win rate estimates for each 120-day chargeback cycle. Providing these insights enables businesses to make more educated cash flow and accounting choices, better forecasting the future revenue that Justt will recover.

Data science technology is used by Performance Explainability to give merchants insights into the fundamental causes of win rate changes and to identify high-impact elements influencing chargeback results. When these characteristics are correctly analysed, they can give actionable insights that can be utilised to improve many elements of the organisation, such as fraud rules and end-user flow. With greater evidence, the Data Point Value Indicator provides data-driven suggestions for optimising chargeback victory rates.

Merchants can balance the benefits of providing these data points against data security and engineering costs by systematically prioritising the need for additional data points based on their projected impact on chargeback reversal success, informed by ongoing industry benchmark analysis and AI insights. This tool enables merchants to develop a strategy that maximises dispute victory rates while also ensuring cost-effectiveness and security. The attitudes towards chargebacks According to the Justt Customer Attitudes Towards Chargebacks in 2022 poll, customers in both the UK and the US now commonly use chargebacks to express discontent with the products and services they get.

In all sector verticals, American shoppers were significantly more aggressive than British customers in their use of chargebacks, and they were also more prone to submit serial chargebacks, with 15% of respondents registering five or more disputes in the previous year. In the UK, one in every ten customers submitted three or more chargebacks in the previous year. Some sectors are particularly vulnerable, with half of those polled in the US claiming to have lodged a chargeback for online or mobile game purchases.

COVID-related disruptions also had an impact on the travel and entertainment industries, with 36% of US customers and 16% of UK shoppers using chargebacks to dispute travel and entertainment-related transactions. .