Pegasystems (NASDAQ: PEGA), the leader in Business Process Management (BPM) software solutions, today announced a new version of the company's industry-leading Smart Dispute framework.
With over 60% of the world's credit card disputes volume currently handled by Pegasystems BPM software, this new industry framework delivers Pegasystems' powerful dispute management capabilities to acquirers.
Smart Dispute for Acquirers is the first enterprise-class, global dispute management solution that addresses the needs of acquirers, powered by Pegasystems' award-winning SmartBPM® suite. Smart Dispute for Acquirers provides organisations with dynamic, rules-based workflows that enable differentiated treatment of merchants and association schemes, ensuring compliance and proper treatment of merchant preferences. The workflows also enable automatic resolution of basic disputes, enabling organisations to focus resource efforts towards priority cases. Smart Dispute for Acquirers also includes a merchant facing Web-portal, case status updates and real-time merchant response to open cases.
Highlights / Key Facts:
• Rules-based process automation - Reduces processing time by automating activities such chargeback and retrieval code validation, duplicate checks, timeliness validation, as well as automatic write-off of merchant liability
• End-to-end case management - Ensures timely completion of processing activities in line with guidelines dictated by card associations, local governments, and corporate policies.
• Merchant Portal - Provides an online, Web-based portal where merchants can check status of disputes and respond to acquirer requests for information about the dispute
• Intent-led Dispute Resolution Advisor - An intuitive, intent-driven, review portal which advises the case manager on appropriate resolutions based on intelligence around association rules and other corporate policies
• Built-in internationalisation capabilities - Enables the deployment of a single, global platform with regional specialisations, including compliance rules, multi-language user screens, tailored coed correspondence, and multiple card schemes
• Packaged components built to be customised and extended - Delivers industry best practices and accelerates delivery time
• Documentation Generator - Automatically generates correspondence to merchants and card associations as necessary throughout the resolution process
• Accounting Module - Automatically manages sub-ledger accounting throughout the dispute process.
Tony Young, Director of Financial Services Industry Solutions at Pegasystems: "Over the past 23 years, Pegasystems has been providing significant value to the leading card issuers in the world, helping them to automate processes and manage the customer experience across product and regional differences. During that time, acquirers have leveraged the flexibility of the SmartBPM suite and Smart Dispute framework to meet their needs. We are thrilled to announce that we now have a solution specifically developed for acquirers, enabling faster time-to-market and improved operational efficiency."