Corporate Payments Payments - Mindgate Solutions Private Limited

Corporate Payments

VTransact DigiTB-Pay

VTransact DigiTB-Pay is an integrated platform that helps banks to provide solutions to client needs across every sector. With an Intelligent infrastructure in place, the solution encompasses every aspect of transaction banking, covering payments, collections, virtual accounts, reconciliation & dispute management, liquidity management and trade finance services. All in all, ONE POWERFUL TOOL for every transactional need.

The payment systems have evolved over the years, driven by technological progress, changing consumer needs and the development of new financial activities. It has changed from one that was based essentially on paper and cash transactions to the one today that has a diverse range of cashless payment instruments, as well as efficient and reliable clearing and settlement systems.

Key Benefits

  • Bespoke bilateral communication between corporate and banks.
  • Portal & Mobile to initiate, review, approve based on authorisation matrix.
  • Reports and dashboard for analysis.
  • B2B Host-to-Host using bulk file, API, File Act and FIN interfaces.
  • Flexibility to accept any file format across functionalities/flows.
  • Build business logic while transforming the corporate’s instruction/file.
  • Reconciliation, alerts & notifications at regular interval report/file in new/legacy formats.
  • Quick turnaround time in on-boarding clients & corporates.

VTransact DigiTB-Pay provides the following payment capabilities to the corporate customers:

  • Single payment processing: Corporate customer users can initiate a single payment through a portal/mobile app. Payment can be initiated using a registered beneficiary or ad-hoc beneficiary.
  • Bulk Payment Processing: Bulk payment for vendors or payouts can be initiated through bulk file capabilities. Bulk payments files can be uploaded through a portal or H2H channel.
  • It supports the below payment account posting:
    1. Single Debit and Multiple Credit (SDMC)
    2. Multiple Debit and Multiple Credit (MDMC)
  • Bulk payments are capable to accept payment advice that will be sent to the beneficiary, post-processing the transaction.
  • Payroll/Salary Payment Processing: Country-specific salary payment file processing capabilities received through portal upload or H2H channel.

Supported Payment Types:

  • Account to Account Transfer
  • Within Bank Transfer
  • Domestic Payments through ACH Transfer
  • Domestic Payments through Fedwire Transfer
  • Domestic Payments through US TCH Real-Time Payments
  • International Transfer (SWIFT)

VTransact DigiTB – Pay