SIX picks Clear2Pay for payment chargeback
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 system has so far been implemented in Switzerland and Austria, where underlying processes were also improved to a higher level of efficiency during the implementation.
A feature of the software is the use of configuration parameters that speed up the process of on-boarding new clients.
Roger Niederer, head of operations at SIX Payment Services said: “Although the chargeback business is run on strict official rules worldwide, we can make a difference for our clients with a standardised 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.”
The new platform will also improve SIX’s ability to manage and process dispute resolution for financial institutions, merchants and cardholders.
Alain Vansnick, general manager card solutions at Clear2Pay said: “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.” He added that the SIX approach is turning a “heavily regulated topic into a customer facing solution”.