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Major UK bank - Interchange Review
Savantor’s payment scheme experts provide major bank with cost saving opportunities of c€200,000In order to ensure the effectiveness of the Acquirer Interchange settings and process, a major bank asked Savantor to review the bank’s UK based acquirer platform.
This involved assessing the current settings and making recommendations from a commercial standpoint on how to reduce cost or improve income.
Savantor’s team undertook the following:
MasterCard and Visa consumer and commercial cards (excluding Switch/Maestro).
Transaction types for standard purchase and refunds.
Effectiveness of Interchange process and validation procedures.
Ensuring the optimum usage of the in-house processing platform.
Review of Acquiring platform settings versus Payment Scheme programmes.
Doug Tuson, Executive Director at Savantor, identified Savantor’s in-depth industry knowledge as a key ingredient to delivering client satisfaction.
“Our consultants are aware of the major issues across all aspects of card payments. Our detailed understanding of card scheme regulations and bank processing operational areas provide an effective source of expertise to rapidly deliver benefit to our clients.”
Features of this assignment:
- Merchants who are late submitters.
- Enhanced management information.
- Operational process changes.
- Further areas for improvement on merchant billing.
- On-Us processing and merchant transactions.
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