The Novatti Payments System (PS) is an enabling platform for a range of financial services including:Digital Wallets m-Commerce Bill payment Electronic distribution of calling cards and prepaid vouchers Voucher less on-line recharge for prepaid accounts Mobile banking
The Novatti PS can transact using external accounts (e.g. Bank account, or prepaid phone account) and it can also be configured with internal accounts that can be used to transact virtual cash with other internal accounts or with external accounts. Settlement with external agencies is achieved either in real-time or by regular production of electronic banking files containing all settlement details.
The Novatti PS can be configured to support a range of industry solutions as outlined above. Each specific solution will determine the digital wallet structure provided and the relationship between wallets.
The Novatti PS abstracts the transaction acquiring device/channel from the transaction processing engine. This means that the types of transactions supported (e.g. mobile money transfer, cash-in, cash-out, prepaid top-up) are not dependent on the device or channel that is acquiring the transaction (e.g. Internet, EFTPOS terminal, mobile handset). So it is possible to transact on an account using traditional mobile handsets, as well as bankcards, web portals, EFTPOS terminals etc. to offer true omni-channel operation.