News

DataCash Partner with TriRidium

Monday 27 September 2004 11:56 CET | News

DataCash has partnered with TriRidium, to provide credit card chargeback support and fraud protection to retailers trading online and in-store.

TransTrack from TriRidium integrates seamlessly with DataCashs payment gateway to address unnecessary payment card write-offs, chargebacks and fraud. Although improvements have been made in recent years, chargebacks and fraud continue to plague retailers. And as the Chip and PIN initiative continues to gather momentum across the UK, fraudsters are increasingly turning their attention to card not present (CNP) transactions where the card is not present at the time of the purchase. Already providing TransTrack to retailing giants such as Argos, Woolworths and Homebase, TriRidium fully automates back office in-store and head office processes using email, workflow and Internet technologies. Such processes are typically clerically intensive, cumbersome and prone to error. TransTrack manages payment card disputes centrally and is also used to screen for various types of fraud. Retailers face operational issues with the fulfilment of Copy Voucher (‘CV’s) and Chargeback Supporting Documentation (‘CSD’) requests made by Acquirers as a result of customer disputes. This is particularly true for companies with many retail outlets where sales vouchers are stored and for those that deal with significant numbers of CNP transactions. Consequently retailers bear significant annual costs in unnecessary chargebacks and write-offs. These can be due to the deadlines laid down by the Payment Card Schemes being missed, CV or CSD documentation not being found, or because the operational cost of retrieval is uneconomical. Most acquiring banks send retailers retrieval requests as letters – one per dispute. The acquiring bank then expects a paper copy, or at best a fax back from the retailer. This reliance on paperwork and lack of automation makes the process cumbersome for the retailer and fuels the perception amongst them that dispute management is not an issue Acquirers give serious attention to - preferring instead to leave this as a problem for the retailers to solve. Using TransTrack, the turnaround time for a request can be reduced from weeks to literally minutes. Additionally, TransTracks Intelligent Reporting Suite (IRS) provides Retailers with management information relating to disputes, which ultimately assists in the detection of different types of card fraud.


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Categories: Payments & Commerce | Payments General
Countries: World
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