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NewProducts
NewProducts

Boost revenue, stem losses with

fast chargeback response

Companies that manage millions of disputes are knowl-
edgeable about what it takes to win various dispute situ-
ations and can share this information with merchants
through the Dispute Responder API, he added.
Enhance merchant portfolios

Dispute Responder is part of the IRIS CRM platform, which
handles customer relationship management, electronic sig-
RIS CRM, a leading provider of customer relation- nature, merchant onboarding, help desk services, residual
ship management solutions for the merchant services income calculations and reporting, along with an integrat-
industry, added Dispute Responder to its technology ed phone system, Akhrin noted. From a data reporting per-
I suite. The solution combines real-time notifications spective, IRIS CRM has deep processor integrations and di-
with tools for responding to chargebacks and retrieval verse residual reporting coverage; for more than a decade,
requests. These capabilities are available natively within security, flexibility and customization have been the pillars
IRIS CRM and as integrations with proprietary systems of the IRIS CRM business management system, which is
through an open API, according to Dimitri Akhrin, founder like Salesforce but specifically built for the payments indus-
and president of IRIS CRM. try, he added.

"When a merchant receives a chargeback, IRIS CRM will "Our system allows clients to track leads in a CRM, work
automatically notify the ISO by email, text or report within with electronic signature documents to avoid double data
the portal," Akhrin said. "In addition, we will notify mer- entry and integrates with the major processors for onboard-
chants who have an IRIS account, so that responses can be- ing merchants through our proprietary module called Tur-
gin to be crafted before the due date." boApp," Akhrin said. "Today, IRIS serves more than 200
ISOs and provides reporting for more than 300,000 active
Akhrin went on to say that if no response is received, IRIS merchants. With the recent uptick in card-present mer-
will send reminders seven days, three days and one day chants, we expect these numbers to grow significantly in
ahead of the due date to ensure that deadlines are met. In the coming months."
addition, the company will compile related documents,
which may include attachments, invoices, and individual Ready-made infrastructure
merchant responses and transmit all data to the payment
processor. As he considered the numerous payment tools available,
Akhrin advised industry stakeholders to leverage existing
Brandable, customizable technologies, stating that these tools can help entrepre-
neurs build and scale while focusing on high-value busi-
Describing Dispute Responder as a value-added service, ness priorities. Building capabilities from scratch can be an
Akhrin mentioned the solution is fully customizable and expensive proposition and may not be profitable in the end,
brandable, which enables it to seamlessly blend with other he noted.
product and service offerings. IRIS CRM clients and part-
ners can set alerts for each newly created chargeback/re- "For example, if your idea is a product or service that will
trieval case for a set number of days as the dispute reply be sold at $25 per month, you need to do your calculations
due date approaches; merchant customers can respond to down to a granular level based on how long it will take
the real-time alerts with just a few clicks, he added. you to recoup your costs," Akhrin said. "Paying develop-
ers, quality assurance and compliance costs can be a huge
"For example, there are companies that focus on dispute undertaking; if a product can deliver what you need and
management and enhancement services," Akhrin said. add value through an integration, that's a path worth ex-
"These companies can actually integrate with IRIS CRM’s ploring."
dispute responder API to help provide a concierge-type of
chargeback management process."
The Dispute Responder tool can also be invaluable for mer- Company: IRIS CRM
chants, many of whom don't always know how to properly Product: Dispute Responder
respond to chargeback codes, Akhrin noted. Website: www.iriscrm.com

Contact: dimitri@iriscrm.com

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