E-BUSINESS

DotsConnect Introduced a measured, well-reasoned response to e-business demands with opportunities that will generate real revenues and real value for clients and shareholders. Here’s how DotsConnect has taken more than two decades of real-world lessons from TSYS and put them into practice on the Internet.

Nordstrom, Inc., one of the nation’s leading fashion specialty retailers, offers a large selection of quality fashion apparel, shoes and accessories for men, women and children. Nordstrom has been in the retail business for 100 years and serves customers through its stores, direct mail catalogs and online presence at http://www.Nordstrom.com. The retailer partnered with TSYS to process its Nordstrom retail and Visa card products. When Nordstrom decided to offer instant confirmations for its online credit application, DotsConnect delivered a solution.

Nordstrom had high expectations and identified several needs for serving its online customers. First, customers must be able to apply and receive a confirmation within seconds. Second, the online application process must integrate seamlessly with the company’s Web site, enabling online shoppers to apply for credit without disrupting their online experience. And third, the product must support the company’s century-old philosophy: offer the customer the best possible service, selection, quality and value. DotsConnect met all of these requirements.

“We believe that having the capability to provide instant confirmation for online credit applications offers customers an important point of difference when shopping with Nordstrom,” said Kevin Knight, chairman and CEO, Nordstrom fsb.

The online credit application is an industry-tested solution that enables issuers to offer their customers instant credit in real time via the Internet. The system can evaluate credit application data in real time per issuer defined credit policy rules and return a decision or confirmation in less than 60 seconds. This capability can enhance Nordstrom’s business by expanding its customer acquisition channels to include the Internet. It can also increase customer satisfaction by providing an immediate credit confirmation and greatly reducing acquisition cost. Implementation of the Nordstrom online credit application was a success, allowing the retailer to process more than 40,000 online credit applications in 2000.