Submission of Quarterly Member reporting to Visa & MasterCard.
Role involves close coordination with teams, ensuring compliance with financial standards and addressing to merchants queries related to Payments, Transactions, Chargebacks etc…
KEY ACCOUNTABILITIES
Efficiently handles daily schemes settlement, ensure accuracy of daily settlement of merchant transactions, ensuring accuracy and timeliness.
Reconcile Settlement data between internal systems, Schemes, payment gateways and banking partners/Merchants.
Identify and resolve settlement discrepancies, identify failed transactions, correction of failed trans. & its resubmission.
Coordination with relevant teams, monitor settlement reports and provide detailed insights to management.
Settlement accuracy as per MCC & IRD, maintain accurate records of merchant accounts, fee structure etc…
Compliance with internal policies and regulatory requirements for merchant account management.
Respond to merchant inquiries regarding account details, settlements, transactions inquiries and other financial matters.
Manage risk by monitoring and identifying suspicious or high-risk merchant activity.
Preparing detailed financial & performance reports for merchants and management, including transactions summaries, fees and settlements.
Submission of Quarterly reporting to CBUAE, Visa & MasterCard.
Analyze trends and provide actionable insights to improve merchant operations.
Ensure timely distribution of reports to merchants and relevant stakeholders.
Ensure compliance with scheme billing requirements, including interchange fees, processing fees and other associated costs.
Liaise with card schemes to stay updated on billing, mandates, enhancements, changes and compliance requirements.
Monitoring Data integrity Edits from MasterCard.
Reconcile schemes fees with settlement reports and flag any discrepancies.
Should be able to handle the Audits and reviews.
Strong understanding of Schemes Rules & regulations, payment settlement process, merchant accounts and Schemes billing structure.
Proficiently in financial reconciliation and settlement system.
Ability to analyze large volumes of transaction data and identify trends or discrepancies.
High level of accuracy in handling financial transactions and reporting.
Strong written and verbal communication skills to interact with internal team, merchants, schemes and stakeholders.
Ability to identify and resolve issues related to settlements, billing, account discrepancies etc….
Familiarity with PCI-DSS standards & regulatory requirements and scheme compliance guidelines.
Timeliness and accuracy of settlement, interchange, account maintenance…
On time submission of Quarterly to Schemes, delivery of quarterly reports
Qualifications, Experiences & Technical Skills:
Familiarity with Merchant systems, onboarding platforms and digital tools.
Ability to address and resolve issues during the onboarding process.
Knowledge of KYC, AML and other regulatory requirements.
Ability to manage multiple onboarding processes simultaneously.
