Real-time payment rails transforming apps into financial ecosystems
Meeting regulatory and compliance standards in multiple jurisdictions
Connected to 900,000+ top-up & withdrawal channels around the world
Built for rapid scale and high-volume transactions on core-banking technology
Fully customisable fee structure unique to a customer's requirements
Building stored value solutions that scale requires the establishment of licensing, in-house payment operations and integration with network partners around the world for top up and withdrawal.
Wallet Engine provides all the required infrastructure in one seamless integration so you can focus on building a better payment product from the get-go.
Example: You want to enable your app users to send $5 to one another as part of a chat conversation.
Challenge: Most remittance providers support one-directional transfers only and don’t process amounts less than $100. In order for you to connect your international user base for bi-directional transfers, you would need integrations with 100+ networks in order to enable the routing of small value between any two users.
Example: You want to distribute $5,000 based on a distribution key to multiple users in different countries.
Challenge: Mass pay-outs across countries is a time-consuming process. For each recipient, you would need to identify the best transfer route, which varies depending on the amount, foreign exchange restrictions and the recipient’s ability to receive money.
Example: You want to host an online live event and collect $1 from each participant.
Challenge: Unlike for e-Commerce, there is no gateway you could tap into to process $5.00 from people across the world where the recipient is an individual vs. a merchant. In addition, the lack of interoperability amongst local payment products (e.g. e-wallets) adds an additional layer of complexity to move money between people.
Example: You want to hold funds for your users and release them once certain conditions are met.
Challenge: Storing money for customers and transferring on their behalf are regulated activities and require safeguards in place to prevent unauthorised access, money-laundering, fraud, etc. The ability to store funds for people across countries adds to the complexity of setting up your own payments operations.
Example: You issued in-app accounts to your users and you want to provide them with local options to add funds into their account (e.g. via credit card, local e-wallet, bank or cash).
Challenge: In certain markets cards are widely accepted and could be used to top-up an in-app account. However, most people around the world do not have access to credit cards and rely on alternative payment methods such as local e-wallets or even cash. In these cases you need to integrate with local partners so that people can top-up their accounts conveniently based on the local payment landscape.
Example: You want to enable your users to withdraw funds with localised options, or even spend with a linked debit card globally where Visa or Mastercard are accepted.
Challenge: To address the different levels of financial inclusion, you would need to integrations with alternative payment networks in local markets so that users can withdraw funds into their bank accounts, local e-wallets or even in cash. For a lot of people having a debit card linked to their in-app account would be beneficial too but card issuance comes at a steep price tag.
Real-time data & analytics so you can make dynamic business decisions.
"An in-app wallet creates the ideal opportunity for seamless transactions between our business customers and their consumers."
"The Wallet Engine will transform our business to a global platform with one giant step."
"JFK once said regarding the moon mission: "We choose to go to the Moon in this decade and do the other things, not because they are easy, but because they are hard" - glad to be working with the Wallet Engine team who are preparing for the next moonshot in payments."