Reconciliation & Settlement Engine for Prepaid Card Processor

Opus builds an interface to enable millions of seamless transactions that lead to significant amount of cost savings.

A leading prepaid card processor that provides a platform to financial institutions to launch & manage prepaid programs was looking to build an interface with the international card payment network (MasterCard). Opus’ strategic and deep understanding of the network landscape helped them deliver a robust solution that could manage millions of transactions impeccably.

Solution Overview

  • Opus developed a Clearing & Settlement Engine to reconcile online authorizations against transactions received in offline files
  • The engine consisted of configurable rules based on transaction types, category codes, product types etc.
  • The engine enabled configuring multiple clearing cycles, configuring cut-off times as per associations and generating member wise net settlement reports
  • The solution consisted of an online interface according to CIS (Customer Interface Specifications)  with MasterCard and an offline file handling interface based on IPM (Integrated Product Message) format
  • The engine provided reports on matched, unmatched, outstanding and ageing transactions

Solution Benefits

  • The client could generate customized reports and configure the engine as per their business requirements with ease
  • The interface and backend engine, developed in accordance with relevant specifications resulted in smooth testing & certification, managing regulations effectively
  • The solution helped the client meet their aggressive deadlines to launch the product into the market
  • The solution saved them several hundreds of million dollars
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