Terminal Management System and Cardless Remittance for a leading bank in India

Opus was amongst the pioneers of the Cardless Remittance solutions in India.

One of the 5 leading banks in India wanted to design and implement a cardless remittance system to enable their end users to make person-to-person payments using a new channel. Our solution helped them pay cash to a bank account from an existing banking channel ( ATM , Internet banking , Telephone banking etc. ) to a mobile phone number.

Solution Overview

  • Opus was expected to deliver a solution to cater to the diverse nature of payment initiation & delivery channels
  • Based on a Build-To-Run model, we designed & implemented an interchange linking a set of affiliated banks
  • The system allowed affiliated bank customers to transfer money from banked channels to any mobile-phone user. The beneficiary can withdraw at an affiliated ATM, MNO retailer (POS outlet) or a Banking Correspondent
  • Opus designed, developed, deployed and integrated a tailored TMS for the Customer along with the payment devices software
  • The TMS and device software supported features such as Web Admin, Agent Organization (AO) Level Setup, Agent Setup, Device Setup, Agent Organization (AO) Platform Configuration Setup, Exchange House Configuration Setup, Software Upgrades, Fee Calculation, Initiate Payment, Cancel Payment, Status Inquiry, Get Transaction List, AO Terminal Initialization, Terminal Initialization (Agent/Retailer), Business Hour Manager (BOD & EOD management for Agent/Retailer), Withdraw Payment and added functionalities
  • The solution is based on the SOA architecture ensuring high-availability and also security through various means such as compliance to Reserve Bank of India’s (RBI) Know-Your-Customer (KYC) mandate, SSL-certificates, ANSI-PIN Block encryption, AES algorithm for encrypting/decrypting transaction’s crucial data, usage of cipher keys,  validity checks etc.
  • We defined various hierarchy levels and create a Terminal Management System (TMS) to enable cardless remittance via multiple terminals and channels
  • The solution currently supports diverse payment channels such as Internet-Banking, ATM, POS & Mobile

Solution Benefits

  • The solution was the first of its kinds for cardless money transfer
  • It could be easily integrated with affiliated banks
  • The solution served as the single system for money transfer through heterogeneous channels with availability of various transaction options such as Initiating/ Cancelling/ Withdrawing Payments etc.
  • It was a highly secure system given its best in class security measures for various transaction channels and methods such as security through 2 factor authentication
  • The solution also supported international remittance
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