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CardWatch & CardView
The success of these two products, developed by Paynet over two years ago to provide superior customer service as well as minimising loss through card fraud has been significant.
CardWatch
The service includes SMS Alert service which enables our partner banks to promptly advise their credit card customers by way of quick SMS notification whenever they use their credit card at any merchant outlet either within Kenya or internationally. If the transaction is fraudulent the customer can call the customer service centre and the card can be stopped preventing further loss. Not only has this service measurably reduced fraud loss, it has allowed customers to enjoy an unparalleled service level.
The E-mail statements service is a fast and cost-effective advice channel with added convenience and flexibility to both the bank and the cardholders.
In addition to the SMS Alert and E-mail Statement services, Paynet is able to provide Open to Buy ( OTB) Balance notification, Payment Due reminders and Open To Buy (OTB) Threshold warnings via SMS.
Card View
Customer service is at the core of the Paynet card management team and CardView has been developed in response to our Bank Customer needs. CardView allows banks to service customers in branch with realtime credit card information, something most banks find frustratingly difficult to provide. Using CardView, customer service personnel at both the bank and the cardcentre can access a full range of customer information relating to credit cards including:
- Realtime information for customer queries
- Several Months Statement information
- Card details e.g. Limits, balances etc.
- Card transactions from both Online and Prime.
- Address details.
- Account details e.g. Status, limits, etc.
EMV Certification – Leading the Way
Paynet has successfully completed EMV (Chip) Acquiring certification for its outsource Visa customer banks who acquire ATM transactions and for its group owned ATM network, PesaPoint. This is a tremendous accomplishment and Paynet is proud to continue to lead in technology adoption in Kenya. The ATM networks managed by Paynet and certified as EMV compliant by Visa are now protected from the shift of liability introduced by Visa which exposes local banks to additional fraud risk and loss through claims made by people using ‘’chip’’ enabled cards on their ATMs.
Outsourced
Back Office VISA Processing
Managing a debit and credit card
business requires substantial focus and places
huge demands on a financial institution. Certified
by Visa as a Third Party Processor, Paynet Card
Processing Centre provides a full range of front
and back office card processing services for financial
institutions. Through the centre, Paynet also
operates a highly sophisticated fraud management
system.
The main driver to establish
this Centre came directly from financial institutions
seeking to offer credit and debit card services
to their customers but finding the investment
in skills and technology prohibitive with respect
to their own market share, potential volumes and
profitability.
The outsource option represents
a high quality and cost effective option allowing
financial institutions to build an economically
sustainable card business. Further to the implementation
of the centre in 2004, NIC and Diamond Trust are
the two banks currently using the centre’s
services.
The Centre uses technology from
TSYS Card Tech (formerly CTL) leading suppliers
of card technology globally and runs on a fully
replicated hardware and network architecture within
the processing centre, with a further full Disaster
Recovery system housed offsite.
By outsourcing these core functions,
a financial institution is able to focus attention
on growing its card business and maximizing revenue
potential. In an increasingly competitive market,
product differentiation and customer service standards
are critical to achieve customer growth and a
profitable and successful card business market,
it is critical that the bank focuses its efforts
on these issues.
Benefits of Paynet
Card Processing:
- Full card processing infrastructure
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Paynet
has a full card management system which
includes card set up, acquiring, authorizations,
Visa connectivity, fraud monitoring and
monthly statements. All this is operated
24/7 by a highly skilled and experienced
team of experts. |
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The
centre’s shared infrastructure reduces
costs of the service compared to investing
in systems, training and operations. |
- Modern flexible technology
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The
Centre has invested in up to date and flexible
technology that offers rapid new product
implementation and superior fraud detection,
reducing risks and costs. |
- Visa expertise and relationship
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As a recognized
Third Party Processor, Paynet deals with
all the Visa operations such as file processing,
re-presentments, reconciliations and chargebacks,
settlements, as well as ensuring that its
systems adhere to the regular compliance
updates released by Visa. |
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Paynet
has highly sophisticated fraud monitoring
and reaction systems that allow our operators
to take actions rapidly to reduce fraud
risks. This is a continuously changing environment
and by keeping updated with Visa and other
users, Paynet is able to maintain the extremely
high levels of fraud management. |
For more
information and a detailed presentation on this
service, please contact us. |
