Wallet Aggregator
Wallet Aggregator Platform is a comprehensive full service solution which enables acceptance of digital wallets at physical retail locations by consolidating and aggregating multiple wallets on a single platform thereby providing a single stop window for digital wallet acceptance. Wallet Aggregator Platform provides a wide range of core wallet payment processing features that help ensure wallet transactions are processed securely, completely at every stage starting from origination to authorization.
The platform acts as a wallet transaction processing hub, seamlessly integrating with transaction originating systems. It performs validations, routing, transaction matching, and real-time authorization from Wallet Issuers.
The platform is a powerful multi-issuer wallet aggregator system capable of handling high-volume of on-line transactions within the retail, e-commerce and m-commerce marketplaces. At the heart of the platform is a robust and secure middleware server – that is built on a firm foundation of well-tested technology. Capable of operating 24 x 7, platform middleware server is an application for collecting and processing on-line wallet payment transactions from all consumer touch points including classical merchant online point-of-sale (POS and EPOS) terminals, remote Internet and mobile commerce nodes.
Key Features
- Register Wallet Issuer profile details and unique Issuer Id generation
- Define fees and agreement for wallet transactions
- Merchant registration with profile details
- MID & TID generation for wallet acceptance
- Terminal parameters definition/ configuration
- Velocity checking for number of transactions and amount limits
- Transaction reconciliation and exception/ disputed transactions handling
- Processing of Issuer settlement files
- Settlement files for Merchant payouts
Technical Features
- Thin Client Architecture/Dynamic Transaction Schema – ON-THE-FLY deployment of new/existing issuer with new request/response structure.
- Supports multiple transaction interfaces – NFC, QR code & manual entry
- Supports Terminals on GPRS, CDMA & PSTN networks
- Fixed, regularly scheduled reports; Web-based dashboards, reports, and interactive analytics
- Secure System - OWASP Complaint System & IP address authentication for application security & MAC generation & authentication for transaction security
Business Benefits
- Unified single platform for multi wallet acceptance
- Future ready solution with possibilities to offer other VAS services
- Rides on existing infrastructure and no additional cost of network for transaction communication
- No additional cost of development & integration
- Architected to scale and perform on large volumes
Offering
For Wallet Companies
- Cloud based platform enabling wallet payment acceptance at physical locations
- Instant wallet enablement leveraging existing widespread merchant network of partner Banks, Oil Companies and 3rd Party Payment Processors
- Obviates the need of acquiring and onboarding individual merchants
- Removes operational hassles of merchant queries related to transactions and settlement
- Single window clearing, reconciliation and settlement of wallet transactions on master merchant model
For Merchants/Acquirers
- Enablement of new payment acceptance mechanism thereby increasing brand proposition
- Single window setup for servicing of wallet transactions acceptance
- Multi-wallet acceptance under same processing ecosystem
- On the fly rollout and acceptance of new wallets at point-of-sale
- Merchant self-service portal and helpdesk
- Reduced operational and transaction processing costs