Mobile Wallet

A Mobile Wallet is a Stored Value Facility which is associated with your mobile phone. A Mobile wallet can contain monetary value, linked bank account(s), card(s), loyalty points, coupons and gift vouchers. A Mobile Wallet can receive funds from bank accounts, cards, vouchers, cash deposits, salary, premium sms, disbursements or loans.

A Mobile Wallet can be used for person to person (P2P), remittances, product purchase, bill payment, airtime top-up, e-ticketing and other buy/sell scenarios. Transactions can be made through various channels like mobile, over the counter, ATM and mobile POS.

Features

• Multiple financial institutions hosted within the single platform
• Telco & Bank Led Models are supported
• Simple integration with banks for transactions, reconciliation and settlement
• Multiple corridors for remittance
• Issuance of cards against wallets for acceptance at traditional locations
• Standard transactions, inquiry, mini statement, personalization
• Service Providers can combine channels, instruments and security paradigms to create a variety of combinations suitable to their business.
• Variety of applications are supported
• Payment APIs which make Mobile Wallets as a new Payment Instrument available to online channels.
• Branchless Banking through Agents (Super, sub-agents)
• Rapid and Flexible KYC models for individual and mass on boarding of customers
• Multi-compartment architecture
• Hierarchical Merchant Management (Chains, Agents, Stores, Terminals)
• Acquiring, Issuing, Switching, Gateway and Core Banking functionalities