payment reconciliation hub
One big missing piece in the card industry is a standardized and easy reconciliation solution. All acquirers and banks think this is not their business to offer such a solution. And if they offer a solution it is usually proprietary.
Seven years ago we addressed this issue and built a Reconciliation Hub that reconciles transaction data from various sources. A customer wants to have a clear financial view of his financial stream of processed card payments. This is usually not very easy since all cards reimburse the merchant in different ways and timeslots. If you are a large merchant making more than 20’000 sales a day it is almost impossible to reconcile your card payments manually.
Therefore we invented our award winning Reconciliation Hub Technology. This technology matches and reconciles data from various data sources, acquirers and banks. Our proven implementation methodology, called the “financial flow analysis” guarantees a smooth implementation phase.
We usually use three main sources of data that will be reconciled automatically:
- Cash Register Sales Transactions
- Credit Card Reimbursement Information (Electronic Payment Advice)
- Bank account Statements (MT940 Swift Messages)
On the other end we have interface to all big ERP Systems like SAP, Dynamics Nav, Dynamics AX, Oracle Business, People Soft, and so on. We already support more the 25 interface to ERP-Systems.
Our Reconciliation Hub Technology also interfaces with more the 50 acquirers and we process file formats such as EPA (electronic payment advice), RAF (reconciliation advice file), OnmiPay Datawarehouse, EGA, EVR and many more.
On the bank side we process any MT940 Swift Message. We can even process MT942 Intraday Statements to give you full transparency of your card transactions. Your treasury department will love this solution.
Our customers like IKEA, AirBerlin, Swiss Railways, Beneton, Esprit and many more rely on our Reconciliation Hub for their daily payment processing. They save time and money; every day.
Our solutions is fully auditable, PCI compliant and it is recommended by many auditor’s like PwC (Price Waterhouse Coopers), Accenture, BDO, etc.
For further information please check: axReconciliationHub
- bank reconciliation
- credit card
- credit card reconciliation
- reconciliation hub