Product Update | January 2024
Inbound RPP is now ready for bank business partners
Electrum's Business Partner Payments (BPP) solution allows bank participants to process inbound RPP transactions for their business partners.
Rapid Payments Programme:
Business partner participation in inbound pay-by-proxy
Modern self-service developer integration experience
Testing Platform for self-service business partner testing
Bi-directional reconciliation with each business partner
Get To Market Fast
Your business partners can integrate easily and safely into your system for processing RPP transactions. The BPP solution provides a robust integration layer that enables more business partners to be added. Additional channels and features can be added iteratively for your business partners to access - without impacting your core banking components.
Inbound pay-by-proxy based on a business partner domain
Synchronous processing of proxy resolution with business partner’s customer accounts system
Real-time payment outcome notifications for business partners
Streamlined implementation
Implementation of the service is made as simple as possible for each business partner. Our dedicated BPP Developer Portal is open to your business partners' design, development, and testing teams, and provides a comprehensive set of OpenAPI specifications and supporting collateral. A well-designed, step-by-step onboarding process managed by a dedicated Electrum onboarding team takes your business partners through their implementation and conformance testing journey with no burden on you as the sponsor bank.
Back Office Tools
Electrum’s Back Office performs bi-directional transaction reconciliation of all RPP payments with each of your business partners separately. Remove the burden from your own reconciliation systems and reconcile and report separately with each partner.
Operators can use the Electrum console to:
Monitor reconciliation results
Manage exceptions (protected by a four-eyes-approval process as well as full audit logging)
View and download reconciliation reports
View and troubleshoot all your business partners' RPP transactions
Coming Soon
The next release of Electrum’s Business Partner Payments solution for banks
EFT processing (debits and credits), including Check Digit Verification (CDV)
Support for proxy management (enlisting and delisting of proxies with BankservAfrica) by business partners
Support for business partner participation in payment authorisation of inbound payments
Chat With Us
We would love to hear from you regarding any feature enhancements or additions you would like to see added to our Payments offering.
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