NEW YORK, Sept. 27, 2011 /PRNewswire/ -- USDT Corporation (USDT) announced today the release of TransExam™ CNP chargeback management system for online retailers.
TransExam is the next generation credit/debit card chargeback management system utilizing the latest cloud-based patent pending technology, licensed under an exclusive international licensing agreement between SignatureLink Inc. and USDT Corporation.
TransExam was designed from the ground up based on the needs and requirements of online merchants to reduce fraud and the occurrence of chargebacks. Conventional chargeback management systems lack the detailed transactional data that is necessary to win transaction disputes. Most chargeback management systems are based more on dispute resolution tracking and more closely resembles a customer relationship management system (CRM).
A chargeback is the reversal of a previous credit or debit sales transaction. A retrieval request occurs when a cardholder's (issuing bank) requests a reproduction of the sales draft used in a specific transaction. Retrieval requests are generated for an assortment of reasons, including cardholder disputes, point-of-sale errors and fraud inquiries. Some merchants outsource chargeback management due to the lack of available tools to automate much of the process. Currently there are no chargeback management systems that contain all of the necessary components to efficiently respond to retrieval requests and store all of the mandatory documentation as required by the card associations. For example, Visa® requires that sales drafts be retained for 5 years and MasterCard® require they be retained for 18 months.
"When a merchant receives a retrieval request, the merchant simply logs into TransExam CNP and within seconds retrieves a single PDF re-presentment document that includes all pre- and post-authorization data, including the terms and conditions that were presented in the sales draft to the consumer at the time of the purchase. The result is a forensic SignatureLink® certified sales draft. No other chargeback management system in the industry provides a more formidable solution. Very few merchants are aware that the issuing banks compensate the acquiring bank for every successful re-presentment; our clients have been able to derive revenue directly from that revenue stream using the TransExam system. Taking all of the efficiencies into concern, TransExam has an outstanding return on investment for merchants," states Greg Wooten, CEO, USDT Corporation.
TransExam was created to save merchants time and money by reducing their cost of payment acceptance. USDT offers additional TransExam CNP options specifically designed to significantly reduce fraud and chargeback disputes. Additional options include payer authentication, fraud screening and CNPS™ signature capture pad.
USDT Corporation | http://www.usdtcorp.com is a recognized leader in cutting edge payment processing technologies, disaster recovery and asset protection solutions. Merchants, payment providers, acquirers and financial institutions deploy USDT's services to streamline operations and reduce expenses. USDT is committed to providing a secure environment for financial transactions and educating the global business community on best practices to reduce fraud and the overall cost of payment processing worldwide.
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SOURCE US Digital Transactions Corporation