Simplifying Payment Reconciliation

Publisher: Optimus Fintech Inc.

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Simplifying Payment Reconciliation

More and more merchants are providing an omni-channel experience to their customers, giving rise to multiple modes of payments. This has made it critical for merchants to have a strong payments strategy, consisting of a robust back-office system that ensures every payment channel is processed, protected, and reconciled in the same fashion. At the back office, transactions are routed through multiple payment systems. Each entity in the value chain maintains transaction records that needs to be aggregated, validated, and matched. An interrelated set of factors makes the task of reconciling transactions complex.