Visa has announced an expanded partnership with ServiceNow to enhance its dispute management services.

By integrating ServiceNow’s dispute management tools, Visa aims to modernize its processes for handling payment card disputes.

The ServiceNow AI platform will be utilized to optimize contact center operations and increase employee productivity. This collaboration seeks to streamline payment card dispute resolutions, assisting issuers with compliance and improving the overall cardholder experience.

Vidya Balakrishnan, vice president and general manager of Financial Services at ServiceNow, noted, “Banks worldwide are using ServiceNow to deliver frictionless, AI-powered customer experiences, ranging from onboarding and daily servicing to resolving disputes.” She emphasized that the AI platform aims to help banks foster customer relationships while reducing costs.

Neil Mumm, SVP & general manager at Visa DPS, remarked, “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.”

This partnership will address rising dispute volumes, a significant challenge within the financial services sector.

ServiceNow and Visa also plan to collaborate with Skyflow, focusing on PCI compliance and safeguarding cardholder account information during disputes. This expansion builds on their five-year strategic agreement announced last year to create a unified dispute resolution solution for issuers.