The collaboration will utilise the ServiceNow Dispute Management, Built with Visa solution, incorporating AI features to optimise Visa Dispute Management Service. Credit: T. Schneider/ Shutterstock.

Visa has expanded its alliance with an AI platform ServiceNow, with an aim to enhance payment card dispute resolutions.  

Visa will utilise the ServiceNow Dispute Management, Built with Visa solution, incorporating AI features to optimise Visa Dispute Management Service (VDMS) and Visa DPS Dispute Analysis and Support (DAS). 

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The tie-up aims to streamline the often costly and time-consuming process of resolving payment card disputes, ensuring compliance, and elevating the cardholder experience, the company said.  

Visa and ServiceNow said they are working to refine the dispute resolution process, aiming to benefit both clients and cardholders. 

Both companies have partnered with Skyflow to address PCI compliance and the protection of cardholder account data during the dispute process.  

ServiceNow Financial Services Industry vice president and general manager Vidya Balakrishnan said:  

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“Banks worldwide are using ServiceNow to deliver frictionless, AIpowered customer experiences, ranging from onboarding and daily servicing to resolving disputes. Our AI Platform for Business Transformation is designed to help banks expand customer relationships and drive growth, all while cutting bottomline costs.” 

Visa DPS SVP & general manager Neil Mumm 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.” 

This new agreement builds upon a previous five-year agreement entered last year, which aimed to transform payment services.  

The launch of ServiceNow Dispute Management, Built with Visa, marked the beginning of a unified dispute resolution solution for issuers. 

Visa Dispute Management Service (VDMS) is a service that manages dispute cases on behalf of issuers for Visa transactions.  

The service is designed to alleviate the issuers’ workload, allowing them to concentrate more on customer service and less on the intricacies of dispute management.