The Redbourne Group has updated its redPAY payment platform to enable the display of dynamic transaction descriptors on the cardholders’ statement.
Transaction Description Upgrade Benefits Online payees
This means the name of the organisation the purchaser made their credit card payment to, will now appear on that payer’s credit card statement. This will help avoid confusion when a statement arrives and the payer cannot reconcile the name of the organisation they purchased from / made a payment to.
For example, in the past, a parent using redPAY to pay for childcare fees with their local childcare provider (e.g. Little People Child Care), may have received on their credit card statement an amount of $48 (for example) being paid to an entity associated with redPAY’s parent company. Now they will receive on their statement an amount of $48 going to “CCC-LittlePeople”.
This enhancement to redPAY will reduce the time spent by customers and their clients on verifying the identity of the organisation charging their credit card. The charge will be displayed as coming from the company that they have the relationship with.