Justt launches Optimus, leveraging payment data to fight chargeback fraud
TEL AVIV, Israel and CHICAGO, February 17, 2022 /PRNewswire/ — Correct, a pioneer in chargeback mitigation, today announced the launch of Optimus, a powerful new chargeback intelligence solution. By giving merchants and Payment Service Providers (PSPs) complete visibility into credit card payment dispute data, with unique insights into the performance of all processors, Optimus enables smarter decision-making and driven by data that helps merchants increase their net income by several percentage points.
Optimus extends Justt’s core AI-powered solution that combats payment chargebacks, the majority of which are “friendly fraud” disputes that typically cost more than $125 billion a year of lost revenue. Justt uses human expertise and smart tools to automate chargeback disputes, creating a bespoke solution that gathers and submits evidence on behalf of merchants. Now, Optimus gives merchants full visibility, allowing them to track disputes throughout their lifecycle, as Justt manages them from initial dispute to final conclusion.
For merchants, Optimus offers a clear answer to the question: “How are we doing with chargebacks?” Many merchants still rely on customer support teams to manage chargeback processes, leaving their disputes in the hands of non-experts and making it difficult to track dispute success rates effectively. Optimus takes the guesswork out of merchants: Armed with valuable monthly performance data, merchants can make smarter, data-driven decisions to optimize chargeback mitigation and reduce revenue leakage.
Optimus also offers a powerful search and filter console, allowing merchants to zoom in on a single payment or analyze a group of chargebacks from their overall data set. The result: immediate, real-time insight into chargebacks, both globally and individually, empowering teams across the organization to make better, faster, frictionless decisions that directly impact customer outcomes. tradespeople.
The launch of Optimus follows the success of Justt’s Series B, which brought the company’s total fundraising to more than $70 million. Justt is known for dramatically increasing the success rates of customer chargeback disputes and for its innovative risk-free business structure. Instead of charging expensive upfront fees, Justt only gets paid when businesses save money by eliminating bogus chargebacks – a unique win-win approach that ensures merchants always come out on top.
“The chargeback system is fundamentally opaque and unfair, and at Justt we believe there is a better way. That’s why we created Optimus: to give merchants a clear understanding of exactly how chargebacks impact their company and whether their mitigation strategies are delivering the results they need,” says CEO Justt Ofir Tahor. “At Justt, we are committed to not only fighting chargeback fraud, but also to listening to our customers and giving them the clarity and transparency they need. Armed with new insights from Optimus, we can continue this mission. and keep building the powerful data-driven tools our customers need.”
Founded in February 2020, Correct is dedicated to helping online merchants navigate the archaic, costly, and fundamentally unfair credit and debit card dispute system. Using machine learning and deep expertise in a specific domain, Justt combats chargebacks and deploys bespoke programs to collect and submit evidence on behalf of merchants. The result: a fully customized and sophisticated bespoke solution that tackles chargeback fraud with high success rates while eliminating the need for in-house mitigation programs.