A leading European acquiring and issuing processor opts for a standardized, central chargeback approach
Clear2Pay, the international technology provider of next generation payment solutions for financial institutions, announces that one of the leading European acquiring and issuing processors for credit, debit and customer cards and solution provider for cashless payments, SIX Payment Services (SIX), has selected Clear2Pay’s CBK solution to support its chargeback business and processes on a single standardized platform.
The CBK Chargeback system replaces two old systems and will evolve over time to encompass both acquiring and issuing chargebacks for credit and debit cards. The new environment connects some of SIX’s core processing systems to the CBK Chargeback solution to ensure a high level of STP interoperability. The expertise of the Clear2Pay team was put to good use to upgrade and improve the underlying processes to a higher level of efficiency during the implementation. The system has so far been implemented for users at two locations in Switzerland and Austria. The new platform will generate added value when it comes to managing and processing dispute resolution for financial institutions, merchants and cardholders. CBK Chargeback’s flexible configuration parameters make it easy for the solution to readily embrace ‘new business’, which will enable SIX to offer its customers a reduced time to market.
Roger Niederer, Head Operations at SIX Payment Services states: “Although the chargeback business is run on strict official rules worldwide, we can make a difference for our clients with a standardized solution that is stable as well as flexible, secure and, above all, proven and tested in the industry. Service has become the ‘glue’ in the relationship with end customers in the cards business, where people want real and relevant information quickly; with CBK our customers can offer just that.”
Alain Vansnick, General Manager Card Solutions at Clear2Pay adds: “When the project went live on time in two stages, we provided SIX Payment Services with what they demanded from the start: an ‘above standard’ industry solution for chargeback management for efficient and partner oriented dispute resolution. We are very proud to work with this innovative partner in cashless payment transactions, turning a heavily regulated topic into a customer facing solution.”