This project provides the following features and capabilities:
National switching center for electronic card payments is comprehensive solution to build a central router and clearing-settlement center for interbank settlement and a modernized card transaction processing. The platform will enable central banks to offer new interaction services, and ensure data processing for participants of the payment system. Implementing this solution will ensure central banks a possibility to offer interactive services among the participants of the payment system on a new level - by implementing new schemes of interbank settlement as well as by improving the efficiency of data processing and risk management.
In the scope of this solution could be delivered switching, card interbank clearing and settlement modules ensuring message routing, transaction clearing and settlement among payment system participants - banks and processing centers. The solution also includes fraud management module, which performs the functions of fraud prevention and detection and ensures risk monitoring and prevention of fraudulent activities with payment cards.
Card switching is about reliability, performance, round-the clock availability and risk reduction. But this has to be carried out in a highly regulated environment and with a variety of payment channels. The switching and clearing solution processes electronic funds transfers using the latest object-oriented techniques.
Result: This project was developed to simplify business and banking. It has been designed to enhance your business by enabling you to offer a broad range of payment services including micropayments, card, traditional and SWIFT. This single solution enables financial institutions to accept transactions and authorizations from multiple delivery channels, intelligently switching them to a number of external networks. It also handles connections to different delivery channels, destination interfaces and issuer authorization.