WorldPay launches advanced RFI and chargeback management platform
Tuesday May 29 2012
Dispute Management Service automates issuer-initiated chargeback requests, saving time and money for merchantsWorldPay has launched Dispute Management System (DMS), a technology that automates the monitoring and processing of Requests for Information (RFI) and chargebacks, saving merchants considerable time and resource.
DMS is a secure chargeback management platform that allows merchants to respond to issuer-initiated chargeback and RFI requests. As merchants contend with customer-not-present (CNP) fraud, DMS is an integral solution that facilitates efficient chargeback management, reduces issuer penalty fees, and helps prevent merchant online account suspension.
DMS decreases the time it takes for chargeback documents to be received by acquirers, and reduces the potential for documents to go missing by automating the process. The DMS incorporates functionality which allows merchants to ‘bulk upload’ documents for review so multiple sources of information can be attached to a chargeback file.
DMS bolts-on to merchants’ existing Acquirer and Payment Gateway, so merchants can benefit from a detailed electronic record and audit trail of merchant chargeback and RFI history, regardless of acquirer or existing gateway. DMS also allows merchants to set internal access privileges and create new user accounts, ensuring control of who can access and view the data.
Phil McGriskin, Chief Product Officer, WorldPay, comments: “The management of RFIs and chargebacks is time-intensive for merchants and requires considerable expertise and resource to handle manually. DMS is a major step forward in automating this process, reducing the amount of resource required to deal with such requests, all through a secure and customisable platform. WorldPay works closely with merchants to fully understand their fraud requirements and the DMS has been developed in response to these needs, providing merchants with the most advanced acquiring and support services.”