Mobile Payments
VeriPark's all-in-one Mobile Payments solution stands out as a new way of managing payments and finances through one single application, accessible 24/7 at the tips of customers’ fingers. Customers can now make P2P contactless payments in real time and use QR codes or NFC (Near Field Communication) to facilitate faster mobile payments.
Whether you need just one component of the solution, the entire package, or a more complex customized approach, Mobile Payments enables your organization to offer comprehensive mobile payments, including:
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Embedded Finance
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Mobile payments with NFC or QR
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Apple Pay & Google Pay Integrations
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Western Union & PayPal Integrations
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P2P money transfers between users
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Flexible payment plans to convert any spending to a microloan
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Integrations to local digital payment providers in your region
Core Capabilities
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Pre-staging
Enables the customers to use their smartphones to start a transaction, such as a withdrawal, before going to a branch or ATM, thus eliminating multiple steps at the ATM.
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Contactless Payment
Payment used to be tied to a location. Not anymore. HCE (Host Card Emulation) enables to do faster and easier transactions securely.
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Embedded Finance
Acquire new customers from 3rd party platforms through embedding payment options into their platforms.
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P2P Payments
Provides the ability to create a secure link to share bill payments or credit card transactions to recipients. Customers will be able to share the single-use payment request link with each recipient.
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Payment Holidays
Provides material relief for borrowers facing repayment difficulties by enabling them to apply for a Loan Repayment Holiday on their mobile.
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Smart Installment Plan
Enables the customer to request a new equal payment plan for their recent transaction that they made against the credit card.
Unlock the Advantages
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For Financial Institutions
- Providing easy payment plans to increase the purchasing power of customers.
- Digitalization in banking by providing new digital payment infrastructure for both credit card, debit card, and P2P transfers.
- Improving the efficiency of microfinance and embedded finance projects and expanding the geographic range of service areas.
- Providing access to financial services to the unbanked and underbanked population with a cost-to-serve ratio of around 5% compared to a conventional bank.
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For End-users
- Instantly performing transactions through a single mobile application on the go, using contactless payments.
- Deferring payments or paying for purchases in installments splitting up a full payment into smaller bits and paying off at regular intervals over a set period.
- Monitoring expenses, identifying the favorite area of spending and instantly reaching the campaigns in the area of interest.
- Reaping the benefits of complete banking services, including the provision of a mobile wallet account.
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