SINGLE PLATFORM RECONCILIATION FOR ALL VAS TRANSACTIONS
Offering retail Value Added Services (VAS) at point of sale (such as prepaid airtime, electricity and bill payments), brings a variety of benefits including new revenue streams, customer footfall, increased loyalty and competitive advantage. However, the introduction of VAS has increased the number of reconciliation points and exploded the reconciliation workload. ReconAssist™ VAS offers enhanced VAS reconciliation capabilities, financial control, operational efficiency and reporting accuracy.
REDUCE VAS PROCESSING COMPLEXITY
ReconAssist™ VAS provides financial visibility over VAS transaction processing, ensures accurate posting to general and subsidiary ledgers and allows money settlement to or from third parties timeously. This service encompasses all administrative processes associated with exception management, billing, accounting and settlement.
Multiple VAS Types
This service caters for a variety of retail VAS transactions, including prepaid airtime, electricity, bill payments, money transfers, loyalty and pay-outs. This service easily accommodates new VAS products as your business evolves. The primary objective of ReconAssist™ VAS is to ensure that the point of sale view of a VAS transaction agrees with the supplier system’s or host system, and that all exceptions are identified and addressed timeously.
ReconAssist™ VAS integrates into any banking system, enabling automated submission of EFT payment instructions to acquiring banks. This allows your business to automate the transfer of money between all third party suppliers. All instruction submissions are based on easily configurable business rules, policies and mandates.
Retail VAS is provided by many third party suppliers and in-house systems. Each service provider system introduces new procedures and processes which results in complex back office processes. ReconAssist™ VAS enables flexible configuration of multiple settlement processes and varying fees and commission models. This service caters for different reconciliation models, multiple bank accounts, varying fee calculations, multiple on-line real-time service implementations and flexible settlement per VAS supplier.
Fees and Commissions
ReconAssist™ VAS provides a flexible fee and commissions feature that is capable of configuring unlimited fee and commission models in accordance with VAS supplier agreements. Configuration options include fixed/ ad-valorem models and tiered models based on volume and value.
- Reconcile multiple VAS types and suppliers through one centralised system.
- Reduce exception turnaround times through automation.
- Have trust in your figures and achieve financial certainty.