VolPay Gateway

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Overview

VolPay Gateway is a business application that accepts payments from a single or multiple sources in different formats and protocols. It then transforms, orchestrates the entire request-response from the desired endpoints in the message format or file format stipulated by the endpoint, be they clearing venues, partner banks or SWIFT. The system can also orchestrate the responses from the endpoints and convey the appropriate status of the payment to the sending systems. Through configuration, VolPay Gateway can handle additional processes before sending the payment to the desired destination e.g. liquidity control check or handle incoming payments.

Key Features

Endpoint Profiles – Out-of-the-box clearings including transformations, with the ability to create new ones

Endpoint validations – Includes cut-offs, amount thresholds, scheme validations and country specific validations

Bulking Profiles – Preferences for bulking into files e.g. time or volume based

Confirmations framework – Manage and reconcile the responses returned from clearings and/or partners for single payments or file based confirmations

Input Channels – Ability to define input sources and/or systems with their incoming formats and preferences for responses

Routing rules – Can be set if needed to make routing decisions to the endpoints

Process Orchestration – Ability to configure additional processes e.g. Liquidity check or Accounting

Full Audit – Detailed audit trail and drill-down of all activities within the system

ISO Canonical model – Core canonical capabilities to handle all clearings

HTML 5 Angular JS UI – Can be used on smart portable devices such as mobile phones and tablets

API enabled – Access to a growing library of more than 300 API calls, including the UI which communicates with the core system using APIs

Entitlements engine – Ability to define roles and users to manage access permissions to the various system elements

Compatibility and connection options

●Input and Output protocols – API’s MQ, Files, Service Calls, and more

●Operating system – VolPay Gateway, as all VolPay Suite products is infrastructure agnostic

Key Benefits

Business model flexibility for the bank – VolPay Gateway offers the bank the flexibility to choose a partner bank or a clearing venue without having to implement technology changes. This means a bank can ‘shop’ and partner with the best ‘provider’ based on volume, corridor, and customer base, etc. and in turn transfer the benefits of that deal as a competitive offering to the customer

Acceleration, thanks to out-of-the-box clearings availability – Using its rich, maintained and growing library of hundreds of global standards, VolPay Gateway immediately provides access to most of the common clearings. This means that the bank can approach new clearings as a plug-and-play experience rather than that of an expensive and time consuming IT project involving programming and detailed testing cycles.

Self Sufficiency – Since partner banks’ formats are not standardized, if the bank wishes, they can easily create and add their own partner bank profiles and formats as needed. Any confirmations can also be managed through the confirmations framework. This flexibility allows the bank to remove any dependence on vendors or external specialists and associated costs.

Insulation against Changes and Regulation – Any industry changes within the clearings or industry endpoints are managed by Volante on a day to day basis and provided as upgrades as part of the maintenance arrangement. This means that the bank need not be concerned about regulatory change. The budget for any such variations in the near future can now be significantly reduced.

Simplified technology architecture – The bank can now concentrate on a canonical payment processor, for example VolPay Hub, and manage the complexity of endpoints in a completely separate system. The core orchestration payment processor will remain independent of any complexities, variations or changes in the destination endpoints.

Time to market – When a bank needs to adopt a new clearings/partner bank, their core system could remain untouched and the new endpoint is managed in an independent system. This means that the testing and deployment effort required in the core payments system is dramatically reduced.