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Digital Wallet (Pre-Paid eWallet)
Digital Wallet or eWallet or Pre-Paid payment instrument is a flexible and cost-efficient cashless solution for retail payment.
The Open-loop solution usually operates on electronic or mobile money, closed-loop solution, such cases as Mono-Purpose Pre-Paid cards, Pre-Paid dedicated account or vouchers.
eWallet allows extending own payment business without starting from the scratch.
Key Digital Wallet elements
Digital Wallet solution may consists of
| Processing platform that allows to issue and manage pre-paid instruments like electronic or mobile money | |
| Variety of interfaces for end-users (customers): mWallet (mobile App for iOS and Android), web interface, OTP or USSD access to the wallet | |
| Variety of interfaces for merchants: QR POS (business mobile App for iOS and Android), web interface | |
| Administrative panel for Digital Wallet operator, customer support team, technical team, merchants and partners |
Main wallet types
| Customer wallet – end-users’ pre-paid payment tool to make payments and transfers | |
| Merchant wallet – payment tool for receiving money from the end-users | |
| Agent wallet – an instrument for cash agents to convert cash into e-money and backwards (allows end-users to top up and withdrawal from eWallet) | |
| Issuer wallet – for e-money issuer |
Basic transaction types
| Credit transaction (Cash-in) – wallet top-up of a specified amount | |
| Debit transaction (Cash-out) – money withdrawal from the wallet | |
| Pre-authorization – reservation of funds on the wallet | |
| Refund – a reversal of a prior debit transaction |
Payment tools for eWallet top up and withdrawal
| Cash | |
| Variety of existing wallets on the particular market | |
| Credit and Debit Cards: international (Visa and MasterCard) or local (for international cards we may link with MasterPass or Visa Checkout solution or with any PCI DSS compliant partner to store card credentials) | |
| Banking accounts – we may link directly with particular banks or with any payment gateway |
eWallet set up and configuration
| Limits management allows being in line with local legal restrictions (define maximum eWallet balance, monthly turnover etc.) | |
| Fees and commissions management allow to determine an exact flow of cash from eWallet transactions | |
| Multicurrency option allows to set up wallets in different currencies | |
| Exchange rates management allows managing international remittance |
Key Digital Wallet functions
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Payments (QR* and NFC)
- In-App Payments
- On-Line Payments
- In-Store Payments
- *we may use Masterpass and Masterpass QR technologies
-
Money Transfers
- Domestic
- International
-
Invoicing
- P2P money request
- Merchant invoice directly to the App
- Bills from Service Providers
The best business cases with Digital Wallet
Banking & Financial Industry
Mobile Wallet App for bank clients and unbanked population.
FMCG & E-commerce
Customers will order the goods through your branded app and make instant payments via mobile wallet.
Postal Industry
Mobile Wallet App for Postal Operators for cash acceptance process optimization.
Digital currency
CrMobile Wallet App to manage different digital currencies and create you own one.
Banking & Financial Industry
Mobile Wallet App for bank clients and unbanked population.
FMCG & E-commerce
Customers will order the goods through your branded app and make instant payments via mobile wallet.
Postal Industry
Mobile Wallet App for Postal Operators for cash acceptance process optimization.
Digital currency
CrMobile Wallet App to manage different digital currencies and create you own one.
