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Princeton eCom Release New White Paper

Tuesday 29 March 2005 09:46 CET | News

Princeton eCom, has announced the availability of a new white paper on claims reduction in the ePayments industry.

The white paper illustrates how Princeton eCom has eclipsed the competition on claims minimization by developing their Real-Time Digital Scanline (RTDS) that validates payee information as the customer is entering it. This intermediary step significantly reduces the chance of these payments being rejected or delayed. By adding this proprietary service, Princeton eCom customers have achieved unprecedented error rates of only seven per 100,000 transactions. Claims are impacting the banking industry on two fronts; first, to process and resolve rejected transactions the bank needs to staff a claims division to support its operations and secondly, claims issues are affecting customer satisfaction and retention at the same time. Banks are fighting to keep customers while also instituting programs to convert them from paper-based transactions to electronic payments. Claims, or rejected payments, can shake the confidence of newly converted customers. Two years ago, Princeton eCom started an initiative to add tracking mechanisms to monitor and eventually lower payment errors in their PayAnyone product. The development of RTDS and its customer success are a direct result of this initiative. The white paper is available by going to http://www.princetonecom.com/pecom/knowledge/white_papers.jsp.


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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce