PSP Reconciliation


Robotically improving cash allocation and visibility for PSP payments 

Many retail corporates rely on Payment Service Providers (PSPs) to enable easy online payments by their customers. Often, the PSP sends a settlement file every day in its own custom file format, listing lots of details about every payment made through their system that day. Those complex custom formats prevent the corporate from automatically completing their administrative processes: allocating different kinds of fees to the right places and matching individual payments with the transactions they were for. The result: inefficient manual processing, exception handling, delayed processes, delayed cash visibility and suboptimal cash planning.

PSP Reconciliation

The solution: Serrala’s new PSP Reconciliation offering. Developed with and for a handful of corporate clients already, this cloud-based service transforms PSP settlement files to the standard formats required for ERP, Accounts Receivable, Business Intelligence or Reconciliation systems. For example, CAMT.053, CAMT.054 or MT940 files. Such formats enable these systems to apply their standard automated processing and keep the business moving.

The service is cloud-based and flexibly applies RPA (Robotic Process Automation) logic to obtain, transform and deliver files as they arrive. For example, also helping automate cash allocation in a gross or net settlement model. Early customers are brands in different retail verticals like apparel, pharmacy, electric installations and duty-free retail.

Broader solution platform

In addition, the solution is built on the same platform framework as Serrala’s Request-To-Pay solution. While directly enabling online payment through many different channels outside e-commerce web shops, it can also step in when PSPs (or payment gateways, processors, providers) don’t consistently deliver usable settlement files, or when real-time visibility is needed on individual payment for fulfillment.

As a cloud-based service, the solution can be deployed quickly and remotely, all over the world.

Interested in PSP Reconciliation?

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