• Israel-based Justt has introduced platform upgrades, including multilingual dispute management and centralized chargeback approval, aimed at simplifying cross-border disputes and improving efficiency for global merchants.
• The new features allow merchants to set custom rules for recurring disputes and manage chargebacks centrally through Justt’s interface.
• As chargeback volumes are projected to rise 42% by 2026, Justt’s AI-driven tools offer merchants an automated way to handle cases such as friendly fraud.

Justt, an Israel-based company leveraging AI to automate the chargeback process, unveiled some major platform upgrades this week. Among the changes are multilingual dispute management and centralized chargeback approval.

Justt’s newly launched multilingual dispute management offers automatic translation for dispute evidence. The company anticipates that this feature will simplify cross-border disputes by removing language barriers and ultimately allow Justt to better serve global merchants.

The centralized dispute resolution allows merchants to approve chargebacks through Justt’s interface instead of managing chargebacks in a fragmented way using multiple Payment Service Providers. As part of this, the company also allows merchants to set their own custom rules for recurring disputes, enabling them to automate cases that are predictable and better allocate resources to complex disputes.

Justt anticipates that this change will not only simplify the chargeback approval process, but will also reduce administrative load and speed up dispute decisions to give merchants real-time control over approvals.

“We are fundamentally changing how merchants manage chargebacks,” said Ofir Tahor, CEO of Justt. “This is a significant step in our mission to equip merchants with AI-driven tools, allowing them to simplify complex challenges and focus on growing their businesses.”

Justt was founded in 2020 to help merchants resolve illegitimate chargebacks by using AI to boost recovery rates. The company’s platform integrates with over 40 payment service providers, including Stripe, PayPal, and American Express. Merchants can use Justt’s platform to view and manage all chargeback-related data in one place, and quickly resolve the dispute process. Justt has raised a total of $11 million from investors including Former PayPal President David Marcus and Citi Ventures.

Since the increase in ecommerce activity has taken off in the past five years, there has been a substantial increase in chargeback volumes. According to Mastercard, chargeback volumes will reach 337 million by 2026, which represents a 42% increase from 2023 levels. This rise can be attributed to the growing complexity of the dispute resolution process as well as friendly fraud, where consumers dispute legitimate transactions. Friendly fraud rates, according to Chargebacks911, have been growing “at somewhere around the 40% rate” every year.

For merchants, chargebacks result in direct financial losses as well as reputation damages, while banks — who have to protect consumers while being fair to merchants — face operational burdens. Looking ahead, the chargebacks puzzle will become more complicated. That’s because, as third party providers like Justt advance their practices using AI, the rise in real-time payments will create headaches by providing more opportunities for both legitimate and illegitimate chargebacks to take place.

Photo by Nataliya Vaitkevich

• Deel has acquired U.K.-based international funds transfer company Atlantic Money. Terms of the deal were not disclosed.
• The acquisition marks Deel’s ninth acquisition.
• Deel will leverage Atlantic Money’s expertise to enhance its global payroll solutions, enabling businesses to send secure international payouts.

Payroll and compliance company Deel has acquired international funds transfer company Atlantic Money. Terms of the deal, which was announced late last week, were not disclosed.

According to California-based Deel, acquiring Atlantic Money will help strengthen Deel’s payments infrastructure in Europe and offer it more fintech expertise. This is Deel’s ninth acquisition and its fourth one this year. Atlantic Money joins remote work management platform Hofy, payroll and HR platform PaySpace, and employee enablement platform Zavvy — Deel’s three other acquisitions this year.

Founded in 2020, U.K.-based Atlantic Money helps users send money internationally with a transparent fee structure. The company charges a flat, £3 ($3.80) fee for money transfers and claims to be, on average, 10x cheaper than its competitor Wise. Unlike Wise, however, Atlantic Money is much more limited in scope. The company only facilitates funds transfers among 10 countries, while Wise allows users to send funds to nearly 90 countries. Since its inception, Atlantic Money has moved over half a billion pounds for 10,000+ customers, helping them save “millions” in fees.

According to Atlantic Money Co-Founder and CEO Neeraj Baid, Deel will leverage the money transfer firm’s expertise and infrastructure to help businesses send payouts to international workforces. “Deel’s mission is to make running a global business as easy as running a local one, and that includes helping workers make global payments securely and easily,” said Baid. “Our team looks forward to working alongside Deel’s experts to share insights and develop technologies that will benefit companies managing international workforces.”

Deel was founded in 2018 and enables companies to hire employees across the globe and pay them in more than 150 currencies. In addition to facilitating payroll, the company helps companies manage global workforces, hire contractors, relocate workers, and more. Deel was valued at $12 billion in May of 2022 and has raised a total of $680 million in funding.

Photo by Matthias Groeneveld