Product Update | January 2024

Clearing House Payments

Fully functional RTC and RPP processing for banks

Electrum’s Clearing House Payments solution now includes fully functional RTC and RPP processing for bank participants. Use Electrum’s ready-and-tested integration with BankservAfrica to enable modern, future-proof RTC and RPP processing.

The following services and features are ready for implementation

Electrum Payments provides a fully cloud-based SaaS solution to your NPS modernisation needs with support for both real-time and batch processing streams.

Our easy-to-implement Regulated Payments API allows seamless integration of Electrum's solution, allowing you to quickly add new services.

Rapid Payments Programme (RPP):

Fully certified and tested clearing with the industry of RPP pay-by-account and pay-by-proxy

Support for asynchronous or synchronous proxy resolution

Informational events publication at every stage of transaction processing

Monitoring and troubleshooting of RPP transactions in the Electrum Console

Real-Time Clearing (RTC):

Account validation and clearing of RTC transactions

Bi-directional reconciliation and reports of all RTC transactions

Informational events publication at every stage of transaction processing

Monitoring and troubleshooting of RTC transactions in the Electrum Console

A Powerful RPP Service

Electrum's services include RPP support for

Inbound and outbound pay-by-account and pay-by-proxy

Proxy enlisting and delisting with the scheme operator

Synchronous processing of inbound and outbound proxy resolution with your customer accounts system

Modern Platform

A single API for inbound and outbound transactions

Implementation of the services are made as simple as possible, with a single API. Our Developer Portal provides OpenAPI specifications along with easy-to-use, step-by-step implementation guides for your development teams.

Access to:

Inbound and outbound RTC

Inbound and outbound RPP (pay-by-account and pay-by-proxy)

Seamless addition of new channels, without impact to core components

You can use Electrum’s modern and robust payment initiation layer to enable multiple channels to seamlessly participate in your RTC and RPP processing. Add more channels without any impact to your core banking components.

Transaction event postings are emitted by Electrum’s processing engine throughout all stages of transaction processing and can be consumed by your systems for an array of purposes such as auditing, customer service, reporting, etc.

Back Office Tools

Efficient reconciliation and powerful dashboards

Electrum’s Back Office performs bi-directional transaction reconciliation of all RTC payments with settlement files from BankservAfrica. Added features include Kibana dashboards that offer a full range of information for monitoring and reporting.

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

Banks can look forward to the next release of our Clearing House Payments solution

Industry certification for RTC

EFT processing (debits and credits), including Check Digit Verification (CDV)

Chat With Us

Have a product request?

We would love to hear from you regarding any feature enhancements or additions you would like to see added to our Payments offering.

Complete the form below to submit your product request