TEMPE, Ariz. - Vital Processing Services, the merchant processing joint venture of Visa U.S.A. and TSYS, has started Vital e-Connections, an information-reporting service for merchant-acquirers and their merchant customers.
Accessible through a Web site hosted by Vital, Vital e-Connections lets merchants see all the detail behind their daily or periodic bank deposits, including credit card, debit card, fees, chargebacks, and other electronic transactions. This is meant to help them reconcile daily deposits. Access to detailed transactions simplifies the entire process of transaction retrieval, which for many merchants will lead to reduced chargeback losses, Vital said.
Vital said the benefits for its acquiring clients will include the opportunity for fee income, plus productivity improvements in back-office operations and in customer service, as Web-based access to transaction information and reports helps to streamline work processes and exception handling.
"Vital e-Connections is a giant step forward in answering acquirer demands for back-office efficiencies, for tools to better manage their merchant portfolios, and for quick and easy access to transaction data for them and their merchants," said Denise Lewis, executive vice president of products and marketing at Vital Processing Services. "It provides both merchants and acquirers new opportunities for revenue and earnings growth. We anticipate Vital e-Connections to be highly utilized by Vital acquiring clients and we expect their productivity gains to be substantial."
