Trintech Group Plc, a global provider of secure payment infrastructure solutions for real world, Internet and wireless environments, announced St.George Bank Limited as the first company in Australia to employ their innovative payment dispute resolution software, PayWare Resolve. This solution was implemented through a partnership with eFunds International Limited (NASDAQ: EFDS) who are a leading provider of electronic payment solutions and professional services to financial institutions, financial services companies and retailers. eFunds is the sole regional reseller in Asia Pacific for Trintech’s PayWare Resolve line of products, which integrates with the eFunds DataNavigatorÂ solution.
The St.George Bank implementation will significantly streamline the bank’s management of disputed payment transactions, known as chargebacks, allowing the bank to reduce costs, increase productivity and improve customer service levels. The PayWare Resolve suite of products includes solutions for automated payment dispute resolution, as well as fraud and risk management for issuers, financial transaction processors, acquirers and merchants.
St.George has licensed PayWare Resolve IS – a chargeback management system for issuers and processors – and PayWare Resolve AS to handle chargeback management for acquirers, processors and merchants. At St.George, these solutions will combine with eFunds DataNavigatorÂ, allowing staff to more efficiently handle disputes and exceptions.
St.George CEO and Managing Director Ed O’Neal said prior to implementing PayWare Resolve that the bank relied on a manual, paper based system to manage chargeback processing.
“As part of our endeavor to reduce the time and costs associated with chargeback management, St.George has been investigating several software options that would fully automate this process for us. We believe Trintech’s PayWare solutions interfaced with our existing DataNavigatorÂ solution from eFunds will enable us to achieve significant cost efficiencies within the issuing and acquiring side of the business,” Mr. O’Neal said.
eFunds’ Chairman and CEO Gus Blanchard said the combination of DataNavigatorÂ and PayWare Resolve delivers a powerful chargeback management solution. “The PayWare Resolve solutions have the payment organizations regulations built into the system enabling St.George to benefit from reduced staff training time, consistent handling of disputes as well as increased productivity,” he said.
“We are pleased that our existing skills, solutions and business relationships are allowing St.George Bank to achieve its productivity and cost saving goals,” Mr. Blanchard said.
Trintech CEO John McGuire explained that “PayWare Resolve cuts the time and cost of processing exceptions and disputes, while providing sophisticated management information that helps reduce those that do occur,” he said.
“We are delighted to be working in partnership with eFunds in Asia-Pacific and to have St.George as our first Australian site for PayWare Resolve. We believe that they will realize the same benefits of increased productivity and improved customer service that existing customers of our software are already enjoying,” Mr. McGuire continued.
PayWare Resolve Product Overview
Trintech’s Chargeback Systems (The PayWare Resolve product suite) for acquirers, issuers, processors and merchants automates the exception management process from end-to-end, increasing processing efficiency and creating more opportunities for greater customer care.
PayWare Resolve combines a powerful decision-support environment with compliant dispute regulations to enable optimum management of the entire chargeback process using an easily understood graphical user interface, for swift and informed decision-making.
The essential difference between PayWare Resolve and other exception management systems is its built-in knowledge of national and international chargeback regulations. The chargeback regulations for VISA and MasterCard/Europay have been encoded into the application so that the system can recommend the appropriate action and chargeback reason codes for each case, replacing the need to navigate a series of intricate paper trails and complex and changing regulations. Combined with the solutions ease of use, this dramatically reduces the average training time for new staff to be fully operational.
Founded in 1987, Trintech is a leading provider of secure electronic payment infrastructure solutions for card-based transactions for physical world commerce, eCommerce and mobile commerce. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as being a world leader in the deployment of payment solutions for Internet commerce that are fully SSL and SETÂ compliant. Trintech’s range of scalable open systems architecture solutions for UNIXÂ® and Windows NTÂ platforms covers consumer, merchant and financial institution requirements for physical payments and the emerging world of electronic commerce.
Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403 (Tel: 650-227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000).
Trintech can be reached on the Web at http://www.trintech.com.
St.George Bank Limited, Australia’s fifth largest bank, has a unique place in the Australian financial services market. At the Bank’s core is a close relationship with its customers and this remains the cornerstone of future strategies, an important tradition that distinguishes St.George from other large Australian banks.
Founded in 1937 as a housing-based financial institution, St.George built a reputation as Australia’s foremost building society, before achieving full banking status in July 1992.
St.George expanded its services to commercial customers in 1994 when it acquired the Commercial Banking Division of Barclays. This move made St.George a full service bank.
About eFunds International
Based in the UK, eFunds International Limited is the European operation of eFunds Corporation.
eFunds delivers innovative, reliable and cost-effective technology solutions to meet its customers’ payment and risk management, e-commerce and business process improvement needs. eFunds provides its services to financial institutions, financial services companies, electronic funds networks, retailers, government agencies, e-commerce providers, and other companies around the world. The company’s software solutions include: eFunds Internet Financial Management (IFM) product range, providing Internet banking solutions tailored for the retail, small business and corporate segments of a bank’s customer base; CONNEX*, which offers ATM and POS electronic funds transfer driving, switching, authorisation and settlement services to banks and financial networks; DataNavigator*, a back-office solution for the post-processing of retail electronic transactions; and Architect, a strategic middleware hub for enterprise application integration.
For more information, visit http://www.efunds.com.Details