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Transaction acquisition is potentially the most profitable activity in the card business. The ability to react quickly to changing market conditions is a must. Accordingly, the full automation of this back office area, via an efficient and reliable software solution, is of great significance. The BankWORKS Merchant Acquirer Module provides this automation.
The Merchant Acquirer Module enables a financial institution to perform a complete range of acquirer functions. This includes both retail merchant business and cash advances such as branch tellers ATMs, for an unlimited variety of card products. It provides the facility for the user financial institution to settle acquired transactions with merchants (retail transactions), and banking institutions (cash advances). In addition, facilities are provided for the settlement of acquired transactions with the card issuer utilizing the Interchange Clearing Module.
The BankWORKS Acquirer System allows a client to tailor the system to meet their business requirements. The entire module is highly parameterized. This allows customized configurations to fit the needs of the user organization, the way they want to run their business and the various services and outputs they require.
 Key Features
Automated Application Processing
Merchant Relationship Management
Merchant Structures/hierarchies
Market Segmentation
Institution Business Rules
Product and Service Management
Price Structures
Client Agreement Management
Card Management
Authorization Processing
Financial Accounting
Statistics and MIS Reporting
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