Fund Management (G2P & P2G Payments)
Government subsidy payments have become a large part of banks portfolio with the mandate of such subsidies transferred to citizen bank account. Also with the growth in online and digital payments, the use by citizens and corporates to pay for government services as well as tax payments has also made the need for banks to be able to service the same.
The Government payments platform aids banks in integrating with government systems for receiving funds from government agencies for subsidy payments.
Our platform is built on an open-source technology framework and is optimized for high scale and volume.
The platform also integrates with government systems on the collection side to present bills/ invoices, tickets/challans for payments by citizens and corporates.
Our platform is built on an open source technology framework and is optimized for high scale and volume. While it also enables to open up various service offerings for all participants across channels with a quick turnaround time and with reduced TCO.
Government to Person (G2P) Payments
- Payment Instructions from Government Systems.
- Authorization from Government Systems
- End to End Asymmetric encryption of data
- Digital signature-based payment instructions
- Manage ACK/NACK responses from Bank systems
- Transaction Status of instructions submitted
- Reconciliation of transactions with banking channels
- Dashboard for Payment status
Person to Government (P2G) Payments
- Invoice/Bill/Challan/Ticket presentment to Consumers/Corporates across banking channels
- Manage ACK/NACK responses from Bank systems to Government systems
- Payment Routing and authorization confirmation
- Dashboard for Receivables Status