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Dispute Resolution from ServiceNow and Visa

ServiceNow’s platform and digital workflows are used by more than 8,100 clients worldwide to streamline operations that involve multiple steps, multiple systems and multiple touchpoints. The company has signed a five-year contract with Visa to help card issuers streamline disputed card payments.

Visa already provides card-issuing clients with a value-added dispute resolution service called Visa Resolve Online (VROL). Call center operators use it to gain information about a payment transaction such as the specific location of a merchant and whether a signature was captured at the point of sale. VROL users can submit prefiling and case filings electronically. They can also receive fraud reports and manage exception file listings. However, to connect with VROL, call center operators must leave their in-house system—which already tends to be a messy coordination of staff, technology and data—before returning to the cardholder.

This is a problem for issuers, as cardholders are more likely to stop using a credit card from a company that makes them wait on hold for 5 to 10 minutes to adequately answer a possible dispute. The current dispute management process is further complicated by the need to manually update Visa guidelines, which slows down middle- and back-office systems. All of this negatively impacts the cardholder’s experience.

Called ServiceNow Disputes Management, Built with Visa, the cloud-based orchestration layer combines an issuer’s own data and systems with VROL data via a single interface.

Operators at call centers, as well as middle- and back-office staff that may also be a part of the dispute management process, use the orchestration layer to create a more timely resolution. The workflow engine also connects to virtual agents and email. It provides dashboards, automation, alerts and the ability to audit all transactions.

The service aims to both reduce the high costs of dispute resolution as well as the time needed to close a case.

ServiceNow Disputes Management incorporates hundreds of questions gathered from contact centers, the Visa Reason Code map and all compliance requirements faced by issuers such as those from the Consumer Financial Protection Bureau.

The first version of the engine is available now to issuers worldwide. Updates are planned for every 90 days. An update that incorporates generative AI will be available later this year.

Visa and ServiceNow plan additional services for card issuers, acquiring banks and merchants, including in areas outside of dispute management.

ServiceNow, whose customers represent 85% of the Fortune 500, had subscription revenues of $8.68 billion in fiscal year 2023. The company had free cash flow of $2.70 billion.

INTERVIEWED FOR THIS ARTICLE Vidya Balakrishnan is VP and General Manager, Financial Services Industry at ServiceNow in San Francisco, vidya.balakrishnan@servicenow.com, www.servicenow.com.

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February 2024
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