Passport Passport is the netbanking portal that addresses the day-to-day banking needs of all account holders on Fusion. Passport can be customised as per the branding guidelines of the fintech. It is a web application, for account holders to check out all of their cards and accounts on Fusion in one interface. Passport is also responsive i.e it is optimised for mobile browser.
It simplifies the following banking tasks for account holders:
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Payment Lifecycle In most real-life cases, a payment request is triggered by a Push payment—when payer uses their card at merchant’s e-commerce site or POS terminal. Various parties like acquirer, issuer, and card network communicate with each other to process the request. The request moves to different stages as a result of this processing. Fusion uses states to track the progress of the request. A typical payment lifecycle consists of the following stages and associated states:
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Policy Management A policy defines the permissible behavior of an account in every financial and non-financial transaction. It is a mechanism to define the following:
Permissible account holders Permissible transactions Acceptable velocity and volume of such transactions It can also help monitor or control the balances. The policy provides a way to deny transactions or notify of any deviations. A policy also encompasses the rules to define the fees and charges applicable for various transactions.
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KYC Methods: RBL Bank RBL KYC Published on 24th March, 2021 We have partnered with the RBL Bank (formerly, Ratnakar Bank) to provide the services to the fintechs. The RBL Bank enables the fintechs to complete the KYC of the account holder using either of the following methods-
Minimal KYC Aadhaar XML KYC Aadhaar biometric KYC Details to verify Minimal KYC Aadhaar XML KYC Aadhaar Biometric KYC Contact number Y Y Y Officially Valid Document Y Only Aadhaar Only Aadhaar Biometric (fingerprint/IRIS scan) N N Y Minimal KYC Step 1: Details’ verification In minimal KYC, the fintech shall verify the contact number, generally done via one-time passwords(OTP), and the identification proof, i.
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About React Native Card SDK Cards SDK comes packed with a rich feature set to solve for different card use cases. With Cards SDK, fintech organisations can avoid the burden of spending several months on being compliant for card issuance, lifecycle management & operations which serve as a bottleneck. Now, you can focus on innovating your products with out-of-the-box security provided by SDK & launch financial products in a remarkable time frame.
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