Visa launches AI tools to cut credit card disputes
qz.com
The payments giant says charge disputes have risen 35% since 2019, costing merchants and banks billions in avoidable losses

The payments giant says charge disputes have risen 35% since 2019, costing merchants and banks billions in avoidable losses

    • invertedspear@lemmy.zipEnglish
      10·
      2 days ago

      Everyone shits on Discover and Amex though, two companies that tried to break in. Discover gave up the fight and got bought by Capital one after 40 years of growing from the Sears in store credit card.

      For alternatives to break the duopoly, people need to actually use them.

  • Mwa@thelemmy.clubEnglish
    24·
    2 days ago

    We need something that Isn’t Visa or Mastercard ngl.
    Edit: actually it exists depends on country.

  • Tim_Bisley@piefed.socialEnglish
    20·
    2 days ago

    If I don’t have these protections with my card why use it? The whole point was being able to make purchases with confidence.

    • HubertManne@piefed.socialEnglish
      6·
      2 days ago

      this. if they don’t come on my side the few times I hae an issue then that card is gone and if cards are just not providing protection then I see no point in using them.

  • adarza@lemmy.caEnglish
    23·
    2 days ago

    risen 35% since 2019

    so… since covid, then. how much of this ‘billions in avoidable losses’ were just left on people’s doorsteps?

    • TexasDrunk@lemmy.worldEnglish
      8·
      2 days ago

      I’m wondering how much of it were the companies that spun up and never delivered (or delivered substandard products) since then. I never had to do a chargeback in my life until 2020 and I’ve been using a credit card since 1998.

      I ordered a box from a clothing company. They missed my size, preferences, never called for the consultation, and sent accessories that were supposed to be specifically excluded.

      They had a no returns policy. I was ok with that. But the box was entirely wrong. Exactly one item in it was the right size and style on the form I filled out.

      I tried solving it through them. They wouldn’t call me back. Email was spotty. I said I was going to do a chargeback and they immediately called me to explain their no return policy means they can send me whatever they want and it’s my problem (in corporate speak). So I did a charge back with the call recording, screenshots of the styling stuff, call logs showing they never called me, everything.

      Since then I’ve had roughly the same experience from a couple of other places where someone spun up a good idea with no plan, no support, and looked like they were panicking by trying to fill orders as close to the letter as they could get them hoping no one would notice. And none of them want to refund when they fuck up.

      • paraphrand@lemmy.worldEnglish
        3·
        2 days ago

        Oh really?

        I suggest this because it would be important how they instruct the AI models to be fair when making decisions. This is only valid when a generic LLM is used. But if it’s trained specifically for this purpose and the weights have bias against the customer, then prompt transparency wouldn’t help. We would need full model and training transparency and researchers who go through it all to see what’s up.

        What I’m saying is, AI can be used to bias in favor of the credit card company in an even more ruthless way than current techniques.

        If “AI” just means “if this then that” and not LLMs, then my suggestion is not relevant.