PSP Reconciliation
Streamline multi-way reconciliations and highlight fraud early.
Today’s consumer expects a choice of online payment options. But if you provide these, they need regular matching against your back office for an up-to-date view of finances.
 
Because of the sheer volume of PSPs, reconciliation has become more complex than ever. Transactions may be subject to chargebacks, reversals and fees. PSPs have varying reconciliation rules, timeframes and terms. And if you’re using different payment gateways to indirectly access PSPs, the process gets even more challenging.
 
If you run one-way, two-way or multi-way reconciliations manually, the process is time-consuming and prone to error. Translating into a weak audit trail and even financial loss through missing fraudulent transactions.
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PSP Reconciliation 0
Aurum Solutions
Aurum Solutions
Automate PSP reconciliations to accelerate processes and improve accuracy.

Automate PSP reconciliations to accelerate processes and improve accuracy.

Key Benefits
  • Seamlessly integrate with ERPs and internal systems.
  • Fully automate data import, matching and reporting.
  • Automate reconciliations with high-volume matching between any PSP statement and internal system.
  • Run multi-way reconciliations, reconciling Payment Gateway to PSP before the corresponding back-office item.
  • Resolve exceptions using our fully audited exception management module.
  • Daily and intra-day reconciliations allow you to detect fraudulent payments.
  • Ensure control and compliance with a fully auditable workflow.
  • Gather insights from our easy-to-use reporting dashboard.

Introducing Aurum automation for rapid PSP reconciliations:

  1. Data import
  2. Data enhancement
  3. Data matching process
  4. Exception Management
  5. Report and Audit

Whether you accept payments through one channel or 500, Aurum’s robust platform tracks transactions across the whole journey.

 

Integrating seamlessly with PSPs, acquirers, processors, and payment gateways, it accepts electronic data via any transfer protocol – sFTP, APIs, direct DB connection, etc.. So you can automatically reconcile data as soon as is available.

 

The exception management workflow provides immediate visibility into exceptions, enabling you to rapidly chase up issues with user transactions.

 

Operating time-consuming three-way and multi-way reconciliations in minutes, staff time is freed up to focus on the data - rather than the detail.

(Aurum) has proved more than a match at coping with the increased volumes. In our experience with the application it has lived up to our expectations, the automatic match rates have improved and I’m really pleased that the support from Aurum Solutions has been there from day one.
Paul Clifford, Customer Accounts Debt
The Admiral Group
Related Industries
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