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Fluid Edge Themes

Core Modules

Merchant & Agent Management

Seamlessly manage end to end Merchant/Agent lifecycle

Merchant / Agent management module provides a holistic way of managing large merchant network in a seamless manner. Leveraging Aadhaar based eKYC and eSign – we support a paperless yet robust onboarding process that significantly improves productivity.

Sophisticated mobile device management solutions allows BYOD devices to be used by Merchants, yet ensuring that the payment terminal is safe and secure. Analytics and dashboards allow effective monitoring of the agent network from central/Regional NOCs.

Transaction Management

Offer comprehensive payment capabilities and co-opt partners with open APIs

Transaction management module supports the capabilities of a POS machine, an ATM, and a full fledged bank branch. Merchant’s Retailer App support provides banking transactions, Merchant payment acceptance, Customer Bill Payments and Other financial services such as Insurance. It also offers incredible flexibility in configuring payment products with complex MDR (Merchant Discount Rate), fees and commissions, refunds, settlement and multi-party reconciliation. We support multiple payment protocols such as AEPS (Aadhaar Enabled Payment System), UPI (Unified Payments Interface), Card based payments, QR based payments, Wallet acceptance, IMPS (Immediate Payment Service) & NEFT (National Electronic Funds Transfer)

Risk and Compliance

Manage risk effectively without constraining growth

Managing risk in a payment network is critical for business success, especially at times of rapid growth. Risk and Compliance module helps manage payment risk using three broad strategies:

Onboarding Risk: Robust verification system to verify merchants and agents using eKYC, Bureau and Database checks

Agency Risk: Continuous monitoring of entire network using MDM, SDK & Dashboard and early warnings.

Transaction Risk: Comprehensive rules, geo-footprints, and complex event processing is used to manage transaction risk

Payment Services

Banking Services

Novopay supports µATM standards compliant banking transactions required to service retail consumers - such as eKYC enabled Bank account opening, On/Off -Us AEPS withdrawal and deposits, Balance Inquiry, Mini-statement, Deposit opening and Service requests. These services can be delivered via Retailer App (through the Agency network) or via the Field Officer App (for Doorstep Banking & Servicing customers at the branches)

Merchant Payments

Novopay supports a comprehensive and integrated solution for merchants. Deviceless payment acceptance allows banks to onboard smaller merchants, while mPOS solution onboard merchants who prefer physical card swipe machines. Payment acceptance via Payment link, Contact/contactless card swipe, UPI, Aadhaar Pay & Wallets is supported.

Cash Management

Novopay offers a sophisticated cash management solution for Banks to help manage cash logistics and reduce cash handling cost. Customers of the Bank's can be routed to the nearest µATM point for cash withdrawal or deposit. Micro-Finance, eCommerce & logistic companies use the service to bury cash. We go a step further to integrate with the ERP systems of these companies to automate reconciliation.

BillPay and Recharges

Novopay brings comprehensive Bill payment and Recharge capability out of the box. We support recharges for all major telecom operators, DTH operators, and data cards. Post paid bill payments for Telecom, Electricity, Water, and School fees are also supported through existing aggregator relationships. Novopay is compliant with Bharat Bill Payment System (BBPS) standards and guidelines.

Financial Services

A retail network can effectively be used to cater to saving/investment needs of customers. On one hand, Banks can improve Agent viability by adding new services, on the other, it brings down the cost of cross-selling new products to customers. Novopay offers several such services such as Insurance origination, Fixed Deposit opening, Mutual fund investments in an assisted mode.

Government Payments

Citizen to Government payments, such as property taxes, professional taxes are important and essential payments that are often hard to make. Novopay is building such capability in collaboration with state governments to facilitate Government payments.

Machine Learning

Payments is a low margin business and chargebacks can disproportionately impact profitability. Machine Learning (ML) is an extension of artificial intelligence, that enables computers with the ability to learn, analyse and predict using algorithms that iteratively learn from data. Machine Learning therefore empowers a system to learn and adapt itself with minimal human intervention. ML can be leverated by Banks to manage Payment risks such as Onboarding risk, Agency risk and Transaction risk .

Agency Monitoring Measure and contain Agency Risk

Machine Learning algorithms take digital signals from smartphone meta-data, SMS, social media and other public data sources to more accurately credit rate & monitor merchants. Using the same techniques, Sales staff responsible for merchant management can also be monitored for signals. Increasingly, we create a large digital footprint that can be effectively used to predict behavior.

Transaction Rating Reduce Transaction fraud effectively

Machine Learning algorithms can classify your merchants into more intelligent risk clusters based on existing transaction data. This helps you manage transaction risk dynamically. Machine algorithms can connect thousands of concurrent and past transaction to unearth patterns leading to real time risk rating of transactions.

Early Warning Use Early warnings to manage network

Machine Learning (ML) techniques can pick out even faint signals and warn you ahead of time before merchant may start doing fraudulent transactions. ML algorithms learn based on behaviors observed over the entire portfolio of merchants to detect early warning signs. With continuous learning, these models tend to get more accurate with time.

Retailer App

Integrated App for payment acceptance

Retailer App is an android app that provides a unified interface to the Merchants and Agents to offer comprehensive services to their customers. Retailers can offer Banking services, value added services such as Bill payment, Recharges, Ticketing as well as act as a cash management service point for Bank’s corporate customers.  Merchant payment acceptance offers all methods of payment acceptance, such as UPI, Bharat QR, Card based payments, SMS link payments & Aadhaar Pay. From the same App, the Retailer can keep track of his/her account statement and settlement history.

Field Officer App

Empower sales staff for productivity and customer convenience

Field Officer App is an android based app that allows Bank’s Sales Team (including Direct selling Agents) to onboard Merchants and Agents on the field.  Using eKYC and eSign, Retailers are on-boarded without paper and instantly, thus reducing time-to-market and cost.

The same app can be used by the service staff & nodal branches to service retailers and also track performance.

Aadhaar & India Stack

Digital India for productivity and customer convenience

We offer a comprehensive end India stack suite of capabilities from Aadhaar Authenitcation, eKYC, mobile update to eSign, UPI (Universal Payment Interface). These capabilities are baked into the loan origination and loan servicing flows. In addition, we can also provide managed Auth, eKYC & eSign services.

Analytics & Dashboards

Empower business with real-time and actionable analytics

Analytics is embedded in every action and events within Novopay’s Payments module. Analytics are used not only for visualisation of dashboards such Business dashboards, risk dashboards, operational dashboards but also to guide event based action. Advanced visualisation of dashboards including GIS based dashboards, Heatmaps and graphs are supported.

Business dashboards – typically show the payment transaction data over a timeline, with the capability to drill down from national level to territory/sales person level. Operational dashboards show performance of various transactions and information on top retailers, top reasons for failures etc. Risk dashboards measures and shows various risks (such as Agency risk).

Open APIs

Power your corporate customers using Open APIs

Payment capabilities integrated with the ERP systems of your corporate customers is a great differentiator and a deal-winner. Novopay’s open API exposes all key payment features such as making a payment, transaction inquiry, statement inquiry, real-time settlement request as APIs. API gateway supports provisioning, multi-level security, throttling and billing capability. API sandbox allows partners to connect up on a self-service basis. Open APIs will allow you to collaborate with Fintech companies, Non-Banking Finance Companies, Logistic Companies, eCommerce companies and the like.

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