Retail Payments
Reliable E-Wallet solutions – Making transactions simpler
It’s the new age of the digital world wherein electronic and in-wallet apps, like digital wallets and e wallets, have emerged as viable alternative payment options to cash. Consumers today prefer having a digital wallet that can be used for quick and fast transactions. It’s no surprise then that the digital ecosystem has seen a rise in demand for prepaid cards and wallets as a financial instruments.
Our solution helps banks and pre-paid issuer/wallet issuers bridge this need, with the ability to engage various unbanked customers to leverage the facility for financial transactions.
The platform is built on a state of art technology framework and is optimized for high availability and scalability. While it also enables to open up various service offerings for all participants across channels with a quick turnaround time and with reduced TCO.
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Key Capabilities
- Convenience: Empower clients to manage & loading through a variety of low-cost intuitive products& channels.
- Easy Integration: Engineered for quick and easy deployment as a stand-alone product or in conjunction with existing solutions.
- Multi-Currency: Offer several currency purses on a single card for global flexibility.
- Multi-Instrument: Supports Cards (Magstripe, Chip, NFC), Mobile, RFID.
- Flexible Fee Setup: Configurable fee setting for variable customer demographics.
- Automated Alerts: Real-Time Alerts with customizable notification features.
- Channel Management: Supports Transactions from all standard delivery channels including SMS, GPRS & Web.
- Portals: The solution provides portals to various stakeholders like the Issuer, service partners, Agents(DSA), corporates and regional administrators.
- Prepaid Products: Supports offerings such as multi-currency, travel cards, bonus cards, remittance cards, gift cards, payroll cards etc.
- Retail & Corporate Management: Supports creation and management of distributors and agencies, collection of organization details, credit scoring, issuance and product management.
- Inventory Management: The solution provides comprehensive inventory management of consumables, cards and other stationarities with threshold alerts.
- Loyalty Management: The solution allows the issuers to use the inbuilt loyalty module or alternatively integrate with third-party service providers.
- Settlement & Reconciliation: Supports reconciliation report, settlement file generation, dispute management and sponsor banks/Escrow management.
- Dispute management and customer Service: The platform integrates with the customer CRM to provide real-time information on customers’ profile and transaction information.
FAQs
E-wallets are digital applications that securely store prepaid accounts. They allow users to make online transactions conveniently.
A wallet solution is a digital prepaid platform enabling secure financial transactions. It supports features like integration, real-time alerts, and multi-currency payments.
E-wallets store users’ prepaid account balance and authorize transactions via mobile apps or web. Funds can be added to the prepaid account through bank transfers or cards.
Yes, digital wallets use encryption, tokenization, and multi-factor authentication to protect user data. Real-time alerts and biometric logins enhance security.
E-wallets offer convenience, security, and quick access to funds. They also reduce transaction costs and streamline payment processes, by limiting the exposure of the primary bank account for payments.
E-wallets help banks and corporates offer innovative payment solutions like corporate re-imbursement programs, gift programs, expense management programs etc., They provide transaction insights, operational efficiency, and improved customer engagement.
Yes, e-wallet solutions can be tailored to specific business needs. Features like UI, program and fee structures, and integration can be customized.
Prepaid products include gift cards, payroll cards, travel cards, and bonus or remittance cards. They enhance user convenience and financial management.
Yes, e-wallets with multi-currency support allow seamless cross-border transactions. Users can make international payments easily.
Banks and businesses gain operational efficiency and customer engagement. Real-time monitoring and flexible integrations streamline financial processes.
Both store payment information digitally, but digital wallets can include crypto and broader functionalities. E-wallets typically focus on fiat currency transactions.
Security is ensured through encryption, tokenization, and multi-factor authentication. Biometric logins and real-time alerts further protect users.
Yes, some e-wallets allow loading funds via cash or transfers from other users. Linking a bank account provides additional convenience for loading the wallet and redeem the balance back to the account.
Popular examples include PayPal, Google Pay, Apple Pay, Samsung Pay, and Amazon Pay. They support both online and offline payments.
Download the preferred wallet app, create an account after undertaking the necessary KYC checks, and link payment methods. Complete verification if required, then start making transactions.
