Instant Payment Gateway
Finon’s instant payments solution empowers financial institutions with seamless and secure real-time transaction capabilities, enabling 24/7 fund transfers based on iso 20022 protocol.
Finon instant payment gateway provides a comprehensive solution enabling instant payments and transfers
Key features
Supports multiple authentication methods: Single click in a mobile app (OOB), One-time passcode (OTP), Risk-based authentication (RBA), decoupled and non-payment authentication
Sophisticated RBA rules, allowing for dynamic authentication based on the transaction's risk profile. By evaluating factors like transaction amount, user behavior, device fingerprinting, and geolocation, the ACS can apply appropriate authentication measures
Merchant whitelisting allows cardholders to whitelist trusted merchants for bypassing authentication. Issuers can view or remove trusted merchants via the administration form
Build-in scoring system for real-time risk assessment and authentication type definition. Could operate stand-alone or integrated with risk management systems
Approved by EMVCo and certified by major card schemes (Visa, Mastercard, AMEX, JCB, UnionPay, mada etc.), ensuring adherence to the latest security standards
what is instant payments scheme?
Countries that implemented instant payments witnessed a significant increase in transaction turnover and improved customer experience by creating new payment services such as transferring money to a recipient’s phone number or email, qr code payments, request to pay, and other innovative features
Instant Payments
Real Time Payments
Immediate Payments
Faster Payments
Finon instant
payment
gateway
can support
Own funds transfer, transfers to friends and relatives
Good or serves purchase, bill payments
Employee wages, refunds, legal settlements, insurance claims
Pensions, government wages, unemployment benefits, social benefits.
Supplier payment for goods or services, adjustments and refunds
For goods or services, tax rebates, subsidies
Fines and levies, registration fees, taxes
Fines and levies, registration fees, taxes
PRODUCT CHARACTERISTIC AT GLANCE
QUICK IMPLEMENTATION
- FinON implementation team supports smooth and quick Instant Payments Gateway integration with Financial Institution’s core systems and central (bank’s) payments infrastructure based on ISO20022 protocol.
- Support existing digital channels such as Mobile and Internet Banking as well as WhiteLabel App for payment initiation.
RISK-BASED AUTHENTICATION
- Single solution to support all possible use cases and scenarios (C2C, C2B, B2B, C2G, C2C cross-border, etc.). Additional caching capabilities for better UX.
- Intuitive user interface and build-in analytic dashboards.
VERSATILE
- Modern micro-services architecture makes any customization or new features delivery in the most time and cost-efficient manner.
- Highly scalable - supports containerization and most mainstream load balancers.
- and most mainstream load balancers.
- Supported message protocols: ISO 20022, Custom JSON, GRPC, Custom XML
- Advanced technology stack (Kubernetes, DevOps, OpenAPI, REST API, Swagger, Kafka Streaming)
RISK MANAGEMENT
- Payment widgets with dynamic QR generation features for X2B and X2G use cases
- Universal API for integration with merchant infrastructure (POS terminals, E-commerce portal, etc.)
- Smart transaction routing engine enables simple implementation of cross-border instant payment schemes like UPI with the same software.
FINON VALUE PROPOSITION
HOW CAN WE HELP FINANCIAL INSTITUTIONS TO ENABLE INSTANT PAYMENTS IN A QUICK AND COST-EFFICIENT MANNER?
