BENEFIT is considered to be the hub of all regional GCCNet dispute claims by positioning it as a leading company in the electronic transactions market locally and regionally. Hence, The BENEFIT Company hosts the “GCCNet Dispute Management System” website making it the settlement and dispute center of the GCC.
How does it Work?
All commercial banks in Bahrain, Kuwait, Qatar, United Arab Emirates, Oman, and Saudi Arabia are able to raise and settle customer dispute claims across GCC countries online using BENEFIT’s GGCNet Dispute Management System which facilitates a fast and efficient dispute process.
The BENEFIT Company manages, operates, and settles all inter GCC dispute claims raised through BENEFIT’s “GCCNet Dispute Management System”. In case of a customer dispute within the GCCNet network, the issuing bank (the bank of the card holder) raises a claim online to the acquiring bank (the bank of the ATM terminal). The acquiring bank views the claim and investigates accordingly and responds back to the issuing bank either by accepting or rejecting the claim within a maximum of 14 days. Accordingly if the claim was to be accepted, then the issuing bank will credit the customer’s account with the disputed amount.