Payment Service Provider (PSP) is an information system that provides a convenient service and processes instructions for creating payments, including contacting the CTS authorization system and ABS.
The key functionalities:
- Establishment of financial agreements for conducting a transaction using bank cards
- Accounting of fees and limits on payments depending on the card rank
- Payment creation tools: payment logs, engines, services
- Making P2P payments according to the financial scheme
- Creating transactions in the Transaction Authorization System (CTS) and ABS, providing the overall result of the execution of a financial scheme in external systems
The system provides services to external front systems to getting an estimated payment taking into account fees, creating a payment, receiving the result of payment processing.
Any remote service channels can act as front systems for accepting and initiating payments: Mobile Banking, Internet Banking, payments on the companies’ website and the Bank’s website, other internal systems of the bank with the need to perform financial transactions as part of its business process.
The features of implementation include:
- The possibility to create a payment type with an indication of the conversion rate applied, the rules for applying commissions, limits, and payment transactions.
- The possibility to create a commission scheme indicating the application depending on the type of payment, payment participants.
- The possibility to configure the scheme of operations with an indication of the application depending on the type of payment, payment participants, the currencies of the payer and recipient.
- The possibility to configure the use of transaction templates with an indication of the scheme of operations, the processing mode and the effect on the payment status.
- Payment log for viewing current payments, making adjustments and post-processing payments (erroneous). The possibility to create a payment from the interface.
- Recording of payments with status control for external systems “Business status” and internal processing status.
- The possibility to create transaction templates specifying the type of object being created and its parameters.
- Processing of payments such as CardToCard, CardToAccount, AccountToCard with the possibility to convert currencies.
- The back-office system for setting up and administering the system is integrated into the ABS.
- Ensuring holistic processing in the PC and ABS systems of the bank.
- Provision of pricing according to the service rates in the context of the type of payment with additional accounting for the tariffs of the card/account product within the framework of the created operations within the payment processing (authorization, documents).