Payment Service Provider – Acquirer
Payment System Operator
Payment Service Provider – Channel
The Payment Service Provider – Acquirer product consists of:
• Omni-payment switching and clearing for:
– Card transactions
– EFT transactions
– VAS transactions
• Transaction aggregation to primary and secondary online transaction platforms, independent of channel
• Traderoot back-office functions, including merchant management
High performance, security and reliability
The Traderoot switching modules give you real-time operational control of payment and settlement transactions, with full reporting capabilities. They can be fully integrated with legacy systems to revitalise them, or they can run side by side with them during a full migration.
Our software is fully PCI PA-DSS 3.2 compliant, providing you and your customers with the highest level of security and peace of mind.
The PSP–Acquirer’s switching modules are more than robust enough to handle any transaction processing situation, and guarantee the recording of transaction outcomes as part of online transaction processing (OLTP). The PSP–Acquirer is EMV certified and can accept all chip-and-PIN cards. It supports full card and EFT payment functionality, as well as Value Added Services (VAS) such as voucher sales and account or utility payments.
The Traderoot Security Modules are EMV certified as well as PCI PA-DSS compliant. The proprietary Cryptographic Server module integrates with certified Hardware Security Modules to deliver DUKPT and master-session PIN translation, as well as End-to-End Encryption (P2PE). The Cryptographic Server module manages key loading and key ceremonies, regardless of the origin of the key components.
The switching modules of the PSP–Acquirer cater for card, EFT and VAS payment streams. These modules are highly integrated with upstream financial organisations, such as card association networks, token schemes and private-label issuers, and they cater for the various customer verification and authentication values through a wide range of international protocols derived from ISO 8583.
In Electronic Funds Transfer (EFT) format, they accept payment transactions as mandated collections (debit orders), as well as credit or debit payments. To connect to payment bureaus or national payment systems, they use common payment protocols such as AXS, PACS 180, SWIFT and ISO 20022 (PAIN, PACS, CAMT and ACMT).
Value Added Services, such as bill payments and prepaid commodities (airtime, electricity) are processed by the PSP–Acquirer’s Workflow Controller (WFC) switching module. It routes or switches the VAS transactions using SKUs and PLUs. Because VAS protocols are usually bespoke and non-standard, the PSP–Acquirer leverages its unique Protocol Factory for effective integration.
Integrated payment acquiring across all channels
As the world demands more electronic payment methods and as more payment options for your merchants’ customers evolve, you need a product that provides secure, reliable and scalable payment acquiring. Merchants want to be able to accept tender by whichever method suits customers best at the time of checkout – using either a card, QR code, token, mobile or online. Merchants also want a single, real-time view of their transactions and the fastest possible settlement, with statements.
Traderoot’s Payment Service Provider – Acquirer solution uses merchant trading and fee accounts in the system to improve reconciliation and ensure that you have full insight into the payment and settlement of all transactions. This is the perfect solution for banks and third-party payment processors, enabling them to compete on merchant management at a cost-effective transaction fee metric.
The PSP–Acquirer has powerful management tools, making day-to-day operation and enrolment of participants (such as merchants and banks) easy. These operational tools include system health dashboards with alerts and notifications, requiring minimal operational skill and resources.
For technical operations, the PSP–Acquirer provides system tools for configuring flexible and complex configurations using dual-control authorisation.
The PSP–Acquirer platform provides various reports for MIS purposes and for third-party distribution. Reconciliation output, in the form of mark-up or mark-off files or home-backs, can be generated automatically or on request.
The PSP–Acquirer’s switching modules are easily integrated with independent channel solutions using standard protocols and APIs.
The PSP–Acquirer extends the reach of your payment system or its independent channels to give you greater control over transactions from the moment they are initiated – over whichever channel – to the time of settlement. Total control of the payment process also helps to prevent fraud by increasing visibility.
The PSP–Acquirer can manage the acceptance of terminals, integrated POS systems and e-commerce outlets. Also, if you are planning to rent terminals to the merchants transacting with you, Traderoot can provide this as a simple, easily maintained function.
Traderoot Back Office
The PSP–Acquirer solution includes the Traderoot Back Office, which uses the Accounting Rules Processor (ARP) to calculate the exposure and liability of merchant accounts per merchant, retail outlet, scheme and member. Interest, fees and commission calculations can be aggregated to general ledger forms, providing you with information to make sound business decisions. The ARP can also generate financial documents and export them to standard accounting packages.
Features of the Traderoot Back Office include:
- Merchant management and risk adjudication
- Fee and subscription collection
- Merchant settlement – either nett or gross
- Merchant or agent notifications by email or SMS
- Facilitation for third-party merchant financing
- Production and remittance of invoices and financial statement documents
- Posting of financial statements to general ledger or accounting software for end-of-day or end-of-month reconciliation
- MIS data warehouse for business insights and Know Your Customer information
- Data extraction to external MIS platforms and reports
Furthermore, you can create and manage a merchant account, which enables you to profile your merchants and agents to give them the best service experience.
- Performs card, EFT and VAS transaction switching
- Offers KYC using well-defined CIF capabilities
- Supports internal or external risk asessment and adjudication
- Includes comprehensive back office and reporting functions
- Enables multiple bank integration
- Provides full settlement for merchants, agencies, financial institutions and suppliers
- Aggregates transactions online, independently of channel
- Reduces cost of maintaining multiple systems
- Provides a single view of transactions, regardless of source
- Increases revenue by suporting all payment methods