Solution Update | Enterprise Payments Channel

Introducing a new collection method for Corporate Clients

Corporate Clients can now initiate a PayShap Request, which is a request for payment sent to a customer-facing channel, such as the bank app, offering both corporate clients and their customers an innovative, secure and efficient way to facilitate collections and payments.

Improved functionality with Request-to-Pay

Corporate Clients can give their customers the ability to:

Accept the RTP

Will effect a full or partial payment via PayShap.

Decline the RTP

The end of the process for the payment request.

Enterprise Payments Channel Solution Update

Enhanced capabilities for Corporate Clients

How next-generation technology can power your corporate payments:

Power your corporate payments

A single integration point that gives simplified access to the Request-to-Pay functionality enabling speed to market.

Electrum handles the end-to-end PayShap processing including RTP status storage, all industry processing, and RTP validation.

Streamlined Payment Tracking: Electrum’s RTP store maintains an up-to-date record of the RTP validity for efficient payment tracking and resolution.

Optimised refund processes with the ‘refund’ capability allowing for the PayShap payment to be linked to the initial RTP enabling a simplified refund experience for customers and enriched record-keeping for the corporate client.

Customisable Payment Validity: Corporate Clients have the ability to adjust the validity of their RTP (to a maximum of 45 days) to suit their business needs.

Coming Soon

Banks can look forward to the next release of Electrum’s Enterprise Payments Channel solution, which is expected to include:

Bulk functionality

For RTP: Corporate Clients will be able to initiate multiple RTP transactions and PayShap transactions in a single bulk transaction.

For RPP: Corporate Clients will be able to initiate multiple PayShap payments in a single bulk transaction.

Kibana dashboards

Bank access to Kibana dashboards indicating events-based metrics for transaction volumes and transaction success and failure rates.

Refund functionality

Corporate Clients will soon be able to process ‘refunds’ to their customers in a slick process linked to the RTP transaction that was initially accepted.

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