A payment engine is a stand-alone system that allows the connection of multiple internal and external channels. This feature allows the extension of existing applications to interface with additional functionality as needed.
It is used to accept, validate, authenticate, sort, route, clear and settle payment transactions received from a wide range of originating systems and deliver these payments, in the required format, at the appropriate date or time, to a diverse range of destination systems. Its main objective is to track and trace all financial information and especially to detect fraud and follow dirty money.
It is used to accept, validate, authenticate, sort, route, clear and settle payment transactions received from a wide range of originating systems and deliver these payments, in the required format, at the appropriate date or time, to a diverse range of destination systems. Its main objective is to track and trace all financial information and especially to detect fraud and follow dirty money.
- Validation of received and shipped transaction sets.
- Decomposition / Splitting of transaction sets.
- Recomposition / Consolidation of transaction sets as defined.
- Processing of transaction sets.
- Additional / auxiliary processing of transaction sets
- Exception processing and data/transaction enrichment
- Financial settlement of received and shipped payments.
- Query management and resolution.
- Verify structure and format of transaction sets
- Authenticate/validate source of received data
- Confirm source authority to generate submitted transactions
- Content validation (verify content of individual transactions)