Mobile Payments Platform

PS-mPay

ProgressSoft’s Blockchain-enabled Mobile Payments Platform is a world-first solution that provides a wide range of payment services for banked and unbanked users using two forms of money; e-money and blockchain-based Central Bank Digital Currency (CBDC).

The advanced platform offers value-added modules that take into consideration varying regulatory body policies including client types, currencies, payment services, profile management, customer and corporate wallet management, and more modules that fully support the financial institution’s needs.

PS-mPay

Features

Financial Services

PS-mPay offers a wide variety of payment services including money transfers, bill payments, direct credits, bank account deposit and withdrawal, cardless ATM cash-in and cash-out, domestic and cross-border remittances, payrolls, pensions, in addition to Near-Field Communication (NFC) and QR code payments at point-of-sale.

Financial Services
Versatile Users

Versatile Users

PS-mPay caters for different types of users including individual banked and unbanked users, merchants, agents, corporates, utility companies, governmental agencies as well as any other entity defined by the financial institution on the platform. The services offered to each user can be controlled to be fully compliant with the regulatory body’s policies.

Non-Financial Services

PS-mPay supports non-financial services that include balance inquiry, customer registration, activation and deactivation, in addition to mini statements and PIN and alias change.

Non-Financial Services

More features

Registration Channels

PS-mPay supports numerous registration channels including registration through the financial institution’s tellers, registered agents, or online channels such as mobile applications which includes a diligent Electronic Know Your Customer (eKYC) process that accurately identifies and validates customer information.

Blockchain-enabled Design

PS-mPay integrates with blockchain networks to seamlessly connect financial institutions and provide instant peer-to-peer payments using blockchain-based digital currency. It also provides different business models for blockchain networks based on the type of financial institution as well as the regulations published for mobile payment services.

Implementation Models

PS-mPay supports versatile business models including bank-centric, Mobile Network Operator (MNO) centric and collaborative models. This is in addition to open Application Programming Interfaces (APIs) that seamlessly integrate with the institution’s existing systems or any third-party system.

Secure Transactions

PS-mPay utilizes the latest security standards to ensure the safety of sensitive and private information and mitigate fraud and identity abuse risks. This is in addition to dual-factor authentication, role-based authorization and Public Key Infrastructure (PKI) based encryption of sensitive data.

Reporting and Monitoring

PS-mPay provides a set of valuable reports including financial statements, exchanged transactions, audit logs, reconciliation and custom report filters that can be exported into multiple formats such as XML, CSV, Excel and PDF. Users can also create custom reports and filters with minimal effort.

Profile Management

PS-mPay provides valuable management of charges per transaction type and currency, fixed and percentage calculation, tiers, payers and distribution. This is in addition to management over payment services for each profile, limits per transaction and currency, as well as periodical count and amount including daily, weekly, monthly, or annually.

Taxes and Commissions

PS-mPay allows the financial institution to calculate taxes for each payment service separately, as well as enables the calculation of commissions according to the count and amount of transactions conducted by end users, merchants and agents. These commissions are then transferred to the relevant wallets once the financial institution’s conditions are met.

Accessible Information

PS-mPay provides financial institutions with a rich web portal that enables full management over the platform, offers insights on exchanged transactions and wallet balances, and is inherently complemented with a security subsystem to control user privileges, create required groups, business roles and a workflow engine.

Benefits

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