Automated Chargeback Retrieval and Matching System
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Solution Overview
Problem
Current systems for managing chargebacks are cumbersome for merchants, involving costly processes and penalties, with existing solutions failing to efficiently match transaction records with chargeback records to effectively contest chargebacks and alert merchants of potential issues.
Innovation Solution
A system that retrieves and matches chargeback records from multiple financial institutions, generates alerts based on predefined conditions, and automates the contesting process by comparing transaction records with chargeback records, using authentication information to access web portals and download records, and sending alerts via text or email when predetermined conditions are met.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual chargeback management processes are used, then merchants can identify and contest chargebacks, but the process is cumbersome and time-consuming
Solution Approach 1:
The system enables automated self-service for chargeback management by automatically retrieving chargeback records from multiple financial institutions, matching them with transaction records, and generating contesting documents without requiring manual merchant intervention for each chargeback event
Solution Approach 2:
The system performs preliminary actions by proactively monitoring and retrieving chargeback records before merchants are notified, automatically matching chargebacks with corresponding transactions, and preparing contesting documentation in advance, allowing merchants to respond more efficiently when alerted
2Loss of information
If chargeback records are manually retrieved from multiple financial institutions, then complete chargeback data can be obtained, but the process becomes complex and costly
Solution Approach 1:
The system implements a universal multi-functional platform that can retrieve chargeback records from multiple different financial institutions through standardized interfaces, match transactions across various sources, generate different types of contesting documents, and provide alerting mechanisms, all through a single integrated system that handles diverse data formats and protocols
Solution Approach 2:
The system acts as an intermediary between merchants and multiple financial institutions, providing a unified interface that automatically manages the complexity of retrieving chargeback data from different sources, matching transactions, and preparing responses, thereby simplifying the merchant's interaction with the complex chargeback ecosystem
3Reliability
If automated alerting systems are implemented, then merchants receive timely notifications, but the system requires sophisticated matching algorithms
Solution Approach 1:
The system replaces manual mechanical matching processes with automated computational algorithms that compare chargeback records against transaction records using digital pattern recognition and data matching techniques, enabling sophisticated matching capabilities while reducing manual intervention requirements
Data Source
AI summary
The subject matter disclosed herein provides methods for downloading chargeback records. For example, the method may include selecting a merchant from a first web portal associated with a first financial institution and providing first authentication information associated with the merchant and the first financial institution into the first web portal. The method may then include accessing, via the first web portal, first chargeback records for the merchant. Additionally, the method can include selecting the merchant from a second web portal associated with a second financial institution and providing second authentication information associated with the merchant and with the second financial institution into the second web portal. The second authentication information can be different than the first authentication information. Then, the method can include accessing second chargeback records for the merchant. Finally, the method can include downloading the first chargeback records and the second chargeback records to a database.