Application sends immediate email alerts to Paymentech’s merchant customers
DALLAS – June 16, 2003 – A new money-saving email alert system called In$tant Alerts allows merchants to view activity reports on out-of-the-ordinary transactions, known as “exceptions” that occur at any of their locations. The web-based application, created by Dallas-based payment processor Paymentech, alerts merchants to exceptions by sending an instant email notification.
In$tant Alerts targets areas that have the most dramatic impact on a merchant’s bottom line. It can also flag unusual activity that may indicate fraud, such as abnormally high same-day card usage or a high dollar amount of return transactions. Merchants can also realize cost savings by using In$tant Alerts to identify transactions that take an excessive amount of time to settle or be notified of retrieval requests (on disputed charges) that are about to expire – both of which cost merchants thousands of extra dollars each year in credit card processing fees.
“Our customers are well aware of the inconvenience and extra costs associated with exceptions,” said Rosemary Thomas, Paymentech Group Manager of Retail Product Management. “In$tant Alerts empowers them to address exception issues before they become a problem. In some cases we can notify them within 10 minutes of an occurrence.”
How it works
Paymentech continuously reviews customers’ payment processing data for potential financial risks and exceptions and sends alerts when they occur. Each merchant sets its own parameters for transactions that should be flagged, so the solution is custom-made to customers’ specifications. In$tant Alerts is designed to be compatible within any industry, including restaurant, lodging, retail, and petroleum/convenience stores.
“Essentially, we are helping our customers save money and time,” Thomas said. “We can help them identify problems they might not even know they have.”
In$tant Alerts is the first web-based reporting tool on the market that monitors high-impact alert categories consisting of chargebacks, retrievals, velocity and interchange qualification. In$tant Alerts is part of Re$ource Online, a suite of products that offers online reporting and information access to Paymentech customers.
Dallas-based Paymentech delivers secure and reliable payment service in merchant acquiring and point-of-sale transaction processing with a wide array of product functionality and support. Paymentech (www.paymentech.com) processed approximately 4.2 billion total transactions and $123 billion in bankcard sales volume in 2002. Founded in 1985, Paymentech is North America’s premier processor and acquirer of credit card transactions.
Paymentech Public Relations