Complexities of credit card transactions are more when compared to the debit card as host banks have to deal with revenue leakage in terms of expenditure. If this is not enough, tallying VISA card POS and ATM transactions with General Ledger is always vulnerable to manual errors and time consumption.
Debit and Credit Card Reconciliation
If you are looking for a company that can help you in your Debit card or Credit Card reconciliation, then you have reached the right place.
Ascent AutoRecon© reconciliation software analyses these complexities and handles the deviations very efficiently. It understands the complications of latest payment methods and e-environments available in UAE, Saudi Arabia, Oman, Bahrain, Qatar, Kenya and Malaysia.
Globally, every second, debit and credit cards are used for millions of transactions either through POS or online. Physically, considering the human capacity, accounting these money transfers in actual transaction time may be highly impossible. Thus, AutoRecon© stands out among other cards reconciliation software and is the best option to increase the cost efficiency and optimize the productivity.
Functionalities of Cards Reconciliation Software
- Collects data from host banks and visa/master networks in real-time
- Synchronizes ATM Electronic Journals (EJs), Network Switches, GL of Host Bank and Payment Order
- Issuer (Remote-On-Us) Visa Network: Reconciles transactions occurred through other banks interface (POS/ATM/O) across Visa Switch Network
- Acquirer (Not-On-Us) Visa Switch Network: Resolves transactions occurred through own Bank’s ATM through Visa Switch Network