A Need for Change
The client needed an e-Wallet app that could also handle high transactional volume and offer smooth payments. However, the complex API integrations with third-party services made the integration of open banking a challenge.
Our client is a prominent fintech innovator specializing in advanced payment solutions that integrate with loyalty programs. Their mission is to provide a low-cost, efficient payment method that not only processes transactions but also rewards users with loyalty points, benefiting both retailers and consumers. A Need for Change The client needed an e-Wallet app that could also handle high transactional volume and offer smooth payments. However, the complex API integrations with third-party services made the integration of open banking a challenge. Softude’s Role Softude developed an e-wallet app that supports payments directly from bank accounts. Customers can scan the QR code or pay directly from the application and add funds to their mobile wallet. Retailers can use the digital wallet to encourage customers to make cardless payments by floating promotional offers or loyalty points. They can even register multiple stores on the application to give a seamless experience to the customers. Increase in Store Registration Reduction in Transaction Costs Improvement in API Reliability Customers don't have to carry credit or debit cards while shopping. They can pay directly from the eWallet app.
Open banking payments saved money on transaction fees while boosting the processing times of transactions compared to traditional methods.
Strong customer authentication (SCA) and secure APIs ensure that each transaction is safe and compliant with regulations.
The eWallet app simplified financial management for local merchants by reducing the complexity of payment reconciliation processes.
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Benefits in a Nutshell
01.
Faster Payments
02.
Cost Savings
03.
Enhanced Security
04.
Streamlined Operations
Client Testimonial
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