Recurring Payments is a product for organizing an auto payments service in a bank. This service allows bank clients to set up automatic debiting their accounts to pay the utility bills or fines on the regular longtime basis. The types of recurring payments we can implement:
- Scheduled payments are executed once per period for a fixed sum. For example, it can be a monthly payment to Internet provider.
- Event payments are executed upon the occurrence of a certain event for a fixed sum. For example, it can be a payment for mobile service when reaching a minimum threshold balance.
- Payments against customer’s debts are executed when the system has found the customer’s unpaid bills, if the amount of payment does not exceed the limit specified by the customer. For example, the system automatically interrogates the service providers about the customer’s debts, and in case of detection, initiates the payment.
The bank’s client can set up the recurring payment service in all front-end applications such as mobile and Internet bank, ATM or terminal, cash desk. Recurring Payments is a new component of Payments Hub solution. Recurring payments service can be configured via the Operation Studio interface (a component of Payments Hub solution.)
Service is integrated with all channels of remote banking services. Frontend eKassir solutions are pre-integrated with Recurring Payments
Recurring payments are available in all customer’s applications and fronts since the customer has set up this service in any remote service channel
Security and reliability
Secure and reliable functioning is supported by Operation Server
All settings are available via Operation Studio interface
Fully functional solution
All types of the recurring payments are supported
Using basic features of Operation Server reduces the integration process duration
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