BHMI, a leading provider of back-office payment solutions, announced the availability of a card and payment network compliance release for the Concourse Financial Software Suite. As a payments back office software solution for electronic payments, Concourse supports card scheme and payment network mandates. BHMI has a team of people focused on the mandate process. This team continually reviews the network mandate materials and assesses the impact across all modules within Concourse, including transaction loaders, extracts, and dispute plans.
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To give an example of how Concourse adheres to network mandates, Concourse has pre-configured dispute plans that ensure network compliance from both an issuer and acquirer perspective. These dispute plans include reason codes, day limits, amount limits, and sequential dispute actions. Each dispute plan is configured to support the appropriate dispute actions (e.g., copy request, chargeback, representment, adjustment, retrieval request, fulfillments, and user defined actions for the governing network such as Visa, Mastercard, etc.). These dispute plans are updated based on the mandate releases by the payment networks.
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Since Concourse supports any type of electronic payment including both card-based and account-to-account payments, this compliance release also includes updates for non-card based networks. For example, it includes mandate updates for the New Payments Platform (NPP), which is the Australia’s real-time payment system
Source – PR Newswire
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