DALLAS, Dec. 01, 2022 (GLOBE NEWSWIRE) -- 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."
Contact Information:
Mike Cannon
Content Strategist
media.relations@chargebackgurus.com
(866) 999-3758
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Image 1: Chargeback Gurus Announces ARI
ARI - Industry's First Predictive Analytics Engine for Preventing First-Party Misuse Chargebacks
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