Product Update | July 2024
Clearing House Payments
Product Update | July 2024
Launch of Electrum’s RPP Request-to-Pay Solution
Electrum’s Rapid Payments Programme (RPP) solution now includes support for RTP (request-to-pay).
Processing of RTP transactions - as well as RPP payments based on RTPs - is now available and currently in testing with BankservAfrica’s RPP Testing Platform for official certification.
Implementation
Support for all RTP functions
Access to all operations for RPP processing, including RTP through the Clearing House Payments API
Informational events publication at every stage of RTP transaction processing
Monitoring and troubleshooting of RTP transactions in the Electrum Console
Clearing House Payments Solution Update
New Electrum EFT service available
Electrum’s Clearing House Payments solution now includes the EFT service available for implementation, with support for inbound and outbound payment and post-payment processing.
The following services and features are ready for implementation
Inbound EFT
Support for inbound credits and debits (same-day, one-day, and two-day), recalls, unpaids & disputes and system error corrections (SEC).
Outbound EFT
Including outbound credits and debits (same-day), unpaids & disputes and system error corrections (SEC).
Batching of transactions
Transaction processing via online (ISO 20022) messaging supported with the bank. Electrum handles batching and unbatching transactions for file-based processing with BankservAfrica.
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Support for all industry scheme rules within Electrum’s EFT engine
Enable debits after credits, debits randomisation, transaction limits based on date/time window, and CDV as part of outbound payments STP.
A single ISO 20022-based API to access all operations for inbound and outbound EFT processing.
Informational events publication at every stage of EFT transaction processing.
Monitoring and troubleshooting of EFT transactions in the Electrum Console.
BankservAfrica Certification
All Electrum RTC processing with BankservAfrica has now passed rigorous industry testing.
Coming Soon
Banks can look forward to the next release of Electrum’s CHP solution, which will include:
Real-time Account Verification Services (AVS-R)
Check Digit Verification (CDV) as a stand-alone capability
Further enhancements and features to minimise the processing burden on the bank’s customer account systems for Electrum's RPP service.
Electrum’s RPP service will be updated with support of full two-way reconciliation between the bank’s records and those of BankservAfrica
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.
Complete the form below to submit your product request
