Transfer Codes Once live with Fusion APIs, fintechs and their users (account holders) can perform different types of transactions. These transactions can be using different payment instruments (e.g. cards, UPI etc), can be over different transaction channels (e.g. POS, ATM, eComm etc.) and may affect different types of account from an accounting standpoint (e.g. funding account, account holder’s PPI account etc.)
We need to be able to classify different types of transactions for accounting, reconciliation, regulatory reporting, management reporting, and business analytics.
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Type of Bundles In this article, you learn about:
Standard Bundles
Custom Bundles
Standard Bundles As a part of Fusion Suite, there are some standard pre-defined Bundles that can be used to offer Liability Account Products along with Physical or Virual Cards.
You may wish to have some custom needs that are not part of pre-configured features.
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Virtual Accounts Fusion currently offers PPI accounts to fintech’s real account holders (RAHs). Earlier, the only way to fund these PPI accounts was account to account (A2A) transfers.
Fusion now facilitates inward transfers using virtual account numbers for RBL. Virtual accounts are non-physical accounts. Virtual account numbers (VANs) are linked to real accounts. So any transfer to a VAN is essentially a transfer to an associated physical account.
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