Visa has formed a strategic partnership with AI platform ServiceNow to smoothen the payment dispute process.
The global digital payments company will adopt the ServiceNow Dispute Management platform and leverage its own AI capabilities to enhance the Visa Dispute Management service and Visa DPS Dispute Analysis and Support solution.
Visa will use ServiceNow’s platform to further streamline costly, lengthy payment card dispute resolutions for clients, help issuers meet compliance requirements, and improve the cardholder experience.
Neil Mumm, SVP and General Manager at Visa DPS, said: “Harnessing the advanced capabilities of ServiceNow’s platform will improve how we manage disputes for issuers.
“This engagement should accelerate the dispute resolution process, offering an unmatched level of service and speed to customers, building on the enhanced risk and compliance capabilities within our global managed dispute framework.”
Visa and ServiceNow are looking to improve the dispute resolution process and overall cardholder experience by collaborating with Skyflow, a security and privacy company with modern AI data stacks.
The company will help both parties address PCI-compliance and protection issues for Visa cardholders account data during a dispute claim.
The new agreement between Visa and ServiceNow expands on last year’s announcement of a five‑year strategic partnership between the two companies to “transform payment services” and the launch of ServiceNow Dispute Management.
“Banks worldwide are using ServiceNow to deliver frictionless, AI‑powered customer experiences, ranging from onboarding and daily servicing to resolving disputes,” added Vidya Balakrishnan, Vice President and General Manager, Financial Services Industry at ServiceNow.
“Our AI Platform for Business Transformation is designed to help banks expand customer relationships and drive growth, all while cutting bottom‑line costs.”