They declared this at Point of Auction (PoS) Innovation Acme with the theme: “Expanding Retailers, Merchants Possibilities’, organized by Global Accelerex, a PoS bell-ringer captivated in Lagos this week.
Tosin Eniolorunda, arch controlling officer, TeamApt, while carrying a keynote at the acme articular some of the challenges merchants face in the use of Point of Auction as a agency of payment, which accommodate chargeback.
According to him, ‘chargeback is back a chump buys appurtenances or annual at a point of auction terminal and was debited but the POS did not book cancellation assuming a acknowledged transaction, because it did not book a receipt, the merchant will debris to accord the chump the appurtenances he requested for, while your annual accept been debited.
In this situation, you will accept to go to your own coffer which is not the coffer of your merchant and book a affirmation of your money that is alleged chargeback.’
“The botheration is bound today by your coffer logging it adjoin the merchant and the merchant coffer needs to investigate if that affirmation is actual or not, if it is accurate he did not accord the chump the value, he will adjure to the coffer that it is accurate and for his coffer to acknowledgment the money to the customer.
If it is not accurate the coffer will appeal for affirmation that the merchant absolutely gave the chump the value.
“The affirmation that is accustomed today in the industry is a cardboard receipt.
That cardboard that was printed from the PoS, you charge to go and get it, browse it and adjure to the coffer you gave that chump his amount for the money not to be refunded.
“Imagine a actual beyond merchant that prints a lot of receipts you charge to be autumn PoS receipts and that cancellation fads abroad with time.
“This claiming is why merchants are arrant about chargebacks because they cannot acknowledge appropriately and accept alone three canicule to do that afore they will be charged.
The way to break it is to anticipate the merchants from defective to present cancellation which is through e-journal,” he explained.
Electronic annual is adeptness of PoS to accumulate an affirmation of all its transactions, back it keeps all those evidences; it sends them to a alien server at the coffer of the merchant.
“POS has the accommodation to do cyberbanking journal.
A authoritative advance for PTSPs to apparatus e-journal will go a continued way to acclamation this problem.
If regulator mandates that operators should apparatus e-journal in the aing two months it will be done.
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