Shoppers Stop has been using Plutus payment solution from Pine Labs for over 4 years now and are pleased with the performance of the solution.
Retailers are facing various challenges in maintaining a smooth transaction process. With hundreds of transaction occurring on a daily basis, it is critical to maintain a fast-paced yet error free customer interface process. This is where Plutus comes in picture to give a faster and efficient transaction processing experience to merchants. Post transaction, the merchant must collect the money from Acquiring banks to close the transaction. It is here that the merchant faces different types of challenges: manual reconciliation, lack of centrally aggregated and accessible MIS, unknown settlement status of POS, no facility to manage disputes arising from reconciliation errors, etc.
Pine Labs introduced Transaction Reconciliation Management system (TRM). TRM is a state of the art web-based application that centralizes transaction data and automates reconciliation processes and workflows.
Key features:
- Central aggregation of credit card transactions – transactions from all POS terminals will be stored / archived in a central server. This will help the merchant to perform search and query functions as well as help the merchant in transaction reconciliation process.
- Facility to upload bank Payment Advice file
- Automatic bank reconciliation and transaction dispute management
- Rich MIS
- Financial closures
- Proactive Alerts for better operational efficiency