System for disputed transactions management
BORICA provides access to a disputed transactions system via which users exchange information related to fraud and incidents. The system keeps a record of all the received information (incidents, fraudulent transactions, disputed transactions, etc.) for a period of 10 years.
The system’s scope includes the following activities:
- Disputing a transaction by an Issuer;
- Goodwill procedure by an Issuer;
- Disputed transactions file settlement;
- Reporting fraudulent transactions;
- Arbitration Commission.
The advantages are as follows:
- Case management system related to disputing a transaction and refunding the disputed amounts;
- Automating the process of document exchange and switching entirely to electronic document flow;
- Ensuring traceability and long-term archive of the history of each dispute;
- Possibility to initiate cash refund through the BNB Gross Settlement System (RINGS) after closing a dispute;
- Opportunity to report fraudulent transactions and keep information for resolving a dispute and statistics;
- Keeping records;