WorldPay Launches Chargeback Management Platform
May 29, 2012
London-based payments processor WorldPay yesterday launched its Dispute Management System (DMS) that will automate much of the chargeback resolution process for its merchant clients. The company says DMS “bolts-on” to any existing payment gateway, so merchants can get a detailed electronic record and audit trail of chargeback and Request For Information (RFI) history, regardless of acquirer or gateway provider.
The online system provides a location for the acquiring payment processor to place RFI and chargeback requests into batch files on a daily basis; allows the merchant to view files alongside the “reason of dispute” and transaction details; and allows the merchant to confirm the purchase and send supporting documentation to WorldPay, which relays the response to the issuer.
“DMS is a major step forward in automating [the chargeback management] process, reducing the amount of resource required to deal with such requests, all through a secure and customizable platform,” says Phil McGriskin, WorldPay’s chief product officer. “WorldPay works closely with merchants to fully understand their fraud requirements and the DMS has been developed in response to these needs.”