RichSolutions unveils a new digital receipt service
Redmond, WA-based RichSolutions Inc., developer of RichPayments.NET, a provider of e-payment web services, has released a new electronic signature and receipt capture service. Electronic receipt capture stores and retrieves electronic receipts on demand. Proponents of such systems say the electronic receipts virtually eliminate bank chargebacks because they are better organized and easier to retrieve than paper receipts, making chargeback responses more timely and complete.
Utilizing Interlink Electronics’ ePad-POS e-signature solution, RichSolutions’ service combines secure front-end signature capture capabilities with a secure back-end receipt storage and retrieval platform. Customers swipe their card, sign the receipt on the ePad and the receipt is automatically stored.
ERC is built on RichPayments.NET, a new e-payment web service with the ability to process credit cards, debit cards and check services in both the physical and virtual domains. It allows receipt data, including the cardholder`s signature, to be electronically captured and stored on secure servers. Electronic signature and transaction data are locked together as a single image and time-stamped for fraud prevention. The integrated chargeback defense mechanism allows for the quick location and retrieval of the disputed transaction that can then be sent to the appropriate party by e-mail, fax or electronic data interchange. RichSolutions says its process complies with MasterCard and Visa operating regulations.
A number of vendors provide electronic receipts services. Retailers have been slow to develop them however as they await the issuing of standards so all systems can operate together and receipts can be read across different platforms. The standards effort is spearheaded by the Association for Retail Technology Standards of the National Retail Federation.
“The potential cost savings for merchants at retail is substantial,” said Rod Vesling, vice president of marketing and sales, electronic transactions, Interlink Electronics. “Eliminating bank charge-backs and the need to store and retrieve receipts is a major step forward for most retailers. Interlink’s ePad is the perfect choice to provide signatures for such a service. It is today’s most cost-effective, biometrically secure, handwritten e-signature solution. We are pleased to be working with RichSolutions to bring the ERC service to the point-of-sale industry.”
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