Transaction Dispute Reduction via Customer Message Parsing
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Solution Overview
Problem
Customers often dispute legitimate payment card transactions due to unrecognizable billing statement information, leading to unnecessary costs for payment card issuers as they absorb the costs of invalid disputes and issue new cards.
Innovation Solution
A non-transitory computer-readable storage medium with programming instructions that searches customer emails for messages related to disputed transactions, identifying receipts or shipping confirmations to notify customers and clarify transaction details, thereby reducing fraudulent disputes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If billing statement information is provided to customers for payment card transactions, then customers receive transaction details, but the information is unrecognizable to customers as it is not complete, does not clearly identify what was purchased and/or lists a different entity than that recognized by customers as vendors
Solution Approach 1:
The patent introduces an intermediary system that accesses customer messages (emails, texts, etc.) to extract recognizable vendor names and transaction details. This intermediary bridges the gap between the payment card issuer's billing system and the customer's understanding, translating unrecognizable transaction codes into familiar vendor names and descriptions that customers can identify.
Solution Approach 2:
The system performs preliminary actions by proactively searching for and extracting vendor information from customer messages before generating billing statements. By pre-processing transaction data to identify recognizable vendor names from emails, texts, or other communications, the system ensures that billing statements contain customer-friendly information from the outset, preventing confusion before it occurs.
2Reliability
If payment card issuers absorb the cost of disputed transactions to engender good will with the customer, then customer satisfaction improves, but aggregate costs associated with disputed transactions become significant
Solution Approach 1:
The patent implements a feedback mechanism where billing statements include extracted vendor information from customer messages, allowing customers to immediately verify transactions against their own communications. This feedback loop enables customers to self-validate charges before disputing them, reducing the number of unfounded disputes and the costs associated with processing them, while still maintaining customer satisfaction through transparent information provision.
3Reliability
If payment card issuers cancel the old payment card and issue a new payment card in response to disputed transactions, then fraud prevention is improved, but customer convenience deteriorates and costs increase
Solution Approach 1:
The system performs preliminary verification by incorporating recognizable vendor information from customer messages into billing statements, allowing customers to verify transactions before initiating disputes. This preliminary identification of legitimate transactions reduces the number of false fraud claims, thereby reducing the frequency of unnecessary card cancellations and reissues, maintaining both security and customer convenience.
Data Source
AI summary
The exemplary embodiments may assist in determining whether a fraud dispute for a payment card transaction is valid or not. The exemplary embodiments enable an agent to access and scan customer messages to attempt to locate messages relating to a payment card transaction in dispute. The exemplary embodiments may process messages such as email messages, instant messages, text messages and the like. The agent may gain remote access to at least some of the customer messages and scan the messages. The scanned content may then be parsed and programmatically processed to locate any messages that are likely relevant to the payment card transaction that is in dispute. For example, the exemplary embodiments may look at messages and attempt to locate any messages that are order confirmation messages, shipping messages or the like for the payment card transaction.