Price List Storage

<A new set of product options, separately licensed>

Now WAY4 can download price lists of goods and services offered at fuel stations. The data are obtained from a POS terminal or H2H partner and provided, upon request, to external systems via web services. 

This feature supports the business operations of fuel companies. Their customers would be able to check up-to-date prices on a web portal. In addition, this information can be shared within the fuel partner H2H networks.   

New APIs (Web Services) Available

<A new set of product options, separately licensed>

Now there are more actions that WAY4 can take upon request from various external systems.

On the issuing side:

  • Recall of internal fund transfers or payments to/from WAY4 card/account. This “reversal” service may be requested by a core banking system after the bank moved funds or made corrections on customer accounts, and then balances in WAY4 system should be updated too.

  • Re-issuance of a virtual card with a new expiry date and new PAN. The new card is linked to the same account, while the old one is blocked.  

On the acquiring side:

  • Adding a merchant to the stop list, if requested by an external risk management system 

Client Age Check for Sales Purposes

<Enhancements to the existing product>

Now WAY4 can check the consumer’s age during authorization and apply specific transaction processing rules, based on your settings. For example, issuers can: 

  • Award bonuses for purchases to buyers under 18 on the International Children’s Day; 

  • Offer cashback to people older than 60;

  • Restrict e-commerce operations to consumers younger than 21 .

Datamart Q3 2018 Update

<Enhancements to the existing product>

  • Now you can define a custom load schedule and load frequency for every data module. Also, a selected module can be reloaded separately from others. We introduced the modules feature in the previous WAY4 release. Data loading is more flexible when tables are grouped into modules – “Instalments”, “All issuing operations”, etc.

  • Now issuers can load risk cases data into WAY4 Datamart. These data include the case number, institution name, card number, case reason, and link to the 1st presentment.   

    We’ve enhanced the load of information about reversed transactions to WAY4 Datamart. The new table stores extended data – the type of reversal (correction, cancel) and the link to the initial transaction.

Dispute Assistant Q3 2018 Update

<Enhancements to the existing product>

  • “Maker-checker” option for dispute documents creation 

Now WAY4 can check if a user has privileges to create dispute documents for transactions of a certain amount. If not, the user can only prepare a document which should be accepted by a supervisor. This “maker-checker” approach is useful when your dispute management employees differ in responsibilities. 

  • Group activities for dispute cases

This feature speeds up dispute management workflows. Now an officer can perform an activity simultaneously on multiple dispute cases, even those belonging to different financial cases. For example, issuers after a proper analysis would create chargebacks for all transactions made with a stolen card.Acquirers would create representments for all the chargebacks received by a particular merchant in a given time period.

IPS Release Setup Automation

<Enhancements to the existing product>

Now WAY4 can apply the mandatory IPS updates onto itself in background mode, at the date and time that you set in advance. You just need to pre-arrange the necessary data and configurations for the IPS-related changes in the WAY4 database while preparing a new WAY4 release. Your staff does not have to manually restart online services on the Transaction Switch and VISA, Mastercard clearing interfaces on a release effective date. A new database table will keep everything ready for the deferred activation.

WAY4 major releases are issued twice a year, and each complies with the requirements of the forthcoming IPS release. We supply the WAY4 configuration documents at least one month before the requirements come into force. Also, we offer the WAY4 Release Management Services to clients who need to optimize their resources related to IPS updates and other system upgrades. Read about this service on our website.

nexo ISO20022

<A new set of products, separately licensed>

Now WAY4 supports the nexo protocol for POS transactions based on the open universal ISO20022 standards. Nexo makes you as the acquirer less dependent on terminal manufacturers. You can exploit new-generation POS devices from multiple suppliers and develop flexible cross-border acquiring services. Nexo-compliant systems guarantee better time-to-market, smart transaction routing and higher payment security and efficiency. 

Read the press release.

One-Time CVV2

<A new set of product options, separately licensed>

Now you can make e-commerce transactions more secure for cards that don’t have static CVV2. Typically, it would be virtual cards or private-label closed-loop cards. They are not eligible for 3-D Secure, but our new functionality reuses standard authorization channels to guarantee these cards a similar level of fraud protection. 

To make an online purchase, your customer begins with providing the card number and expiration date on the e-store checkout page. WAY4 generates a one-time CVV2 for this card and sends it via SMS or alternative delivery channels. After the cardholder enters the received value on the e-commerce page, the payment is confirmed.

Keyblock Encryption

<Enhancements to the existing product>

Now WAY4 supports Thales Keyblock LMK – the new encryption algorithm for Thales HSM devices. You need this feature to comply with the latest PCI SSC requirements. Additionally, it means a more efficient, up-to-date and safe encryption process for Working Keys that are used to check the values such as CVV, PVV etc.

This enhancement is a part of WAY4 Key Management functionality.

BIN Attack Fraud Prevention

<Enhancements to the existing product>

We introduced a new risk rule in WAY4. Use it to define how many cards issued by you can be used at the same POS terminal over a short time interval. When this limit is exceeded, it may be an indication of BIN attack fraud. Now WAY4 can identify this suspicious situation, block operations for all cards with the related BIN, and notify your staff.

BIN attack fraud may happen on the theft of a pool of cards not yet delivered to the customers.

Apple Pay Reports

<A new set of product options, separately licensed>

If you launch the Apple Pay service on WAY4, our new feature can help you comply with Apple’s latest mandates and save your time on manual report preparations. 

You can configure WAY4 to collect data about Apple Pay tokens, devices and transactions (including transaction amount, type, currency, MCC code, etc.) Using this data, the client can generate the mandatory Apple Pay statistical reports. Issuers are supposed to provide these reports to Apple Inc. on a monthly basis.

The support of Google Pay reports is coming soon. 

Partner Management Workbench

<A new set of products, separately licensed>

This new workbench extends the WAY4 Partner Management solution. It benefits issuers who sell instalments at POS in partnership with retail stores. 

Now the issuer’s employees have user-friendly web interfaces to configure the sales finance scheme/model. The workbench allows them to view and edit partner contracts, commissions you pay to partners or fees they pay to you, and instalment transactions.

partnership management.png

Automated Reissuing of Supplementary Cards at Main Card Upgrade/Downgrade

<Enhancements to the existing product>

Often, when you re-issue the customer’s main card in the event of upgrade /downgrade, the same should apply to the supplementary cards. Our new “Product Lines” feature helps you avoid the time-consuming manual reissuing of supplementary cards. 

Now the issuer can group card products into Product Lines, each including some main and supplementary cards. The lines can be labelled according to your preferences – for example, “VIP”, “Student”, “Classic”. You can move the main card from one line to another. WAY4 will automatically reissue the supplementary cards within that new line. 

Your existing card products can be assigned in bulk to your newly created lines.

Grace Period for Instalments

<Enhancements to the existing product>

To attract new incentive-driven customers or motivate your existing cardholders to make a purchase on instalment, you can offer them a grace period. The WAY4 instalment scheme allows you to set the N number of periods when the grace rate is applied instead of the base rate.  The portion amount for the grace period can be smaller than for other periods, or be the same. 

To reward an existing instalment user, the issuer can apply the grace conditions in the middle of the instalment annuity plan. This can be done via the Change Instalment Plan procedure.

You can also pre-approve the grace conditions for the cardholders who are converting their revolving credit into instalment via self-service channels (WAY4 Digital Banking, WAY4 Wallet, etc.)

In case of partially early repayment, the defined rates and number of periods will stay the same.

Limits on Credit Operations

<Enhancements to the existing product>

Now acquirers can limit the total amount authorized for a merchant’s credit transactions – e.g. casino payments, insurance payments, etc. This functionality ensures that merchants always have enough funds for credit transactions, while acquirers get more protection against fraud.

Before processing a credit transaction WAY4 checks the available balance. If the established limit has exceeded, all such operations will be rejected until the merchant funds are replenished.

Purchase Return Control

<Enhancements to the existing product>

Now WAY4 offers a further tool to monitor and prevent fraud related to purchase returns, both in-store and e-commerce. It helps merchants and acquirers to decrease their fraud losses and financial institutions to comply with the latest IPS recommendations.

For each refund, WAY4 checks in real-time whether its amount matches the original purchase amount. If the goods are returned in portions, WAY4 would sum up all the related refund transactions and compare their total to the original purchase total. 

If the refund exceeds what the buyer initially paid, WAY4 can block the return operation, upon parameter setting.

Card Scheme Fee Calculation Based on Several Tariffs

<Enhancements to the existing product>

Now WAY4 can calculate a multi-component Card Scheme Fee (CSF) that acquirers pay to IPS for each transaction. The number of components, i.e. tariffs, ranging from zero to "N". If multiple CSF tariffs apply to the same transaction, they will be calculated independently, then summed up and posted as a single total fee. 

This feature simplifies your calculation of merchant service charges. 

Similar functionality can be used for other business cases. If you need WAY4 to calculate an amount as a complex mix of sub-fees, please consult with the OpenWay Support Team. 

Example: Let’s say, an acquirer has processed a 3-D Secure authenticated e-commerce transaction for 1000 EUR paid with a Mastercard commercial card. How will WAY4 calculate the CSF fee for this transaction?

Among all the CSF sub-fee tariffs registered in WAY4, the bold ones are applicable to the example transaction:

  • E-commerce 3-D – 0,005%

  • Currency USD – 0,01%

  • Currency EUR – 0,012%

  • Visa commercial card – 0,05%+0,00075 EUR

  • Mastercard commercial card – 0,005%

Total fee: 0,005%+0,012%+0,005% = 0,022% = 0,22 EUR

Rainbow Digital Banking Q3 2018 Update

Improvements in Mobile Contactless Payment Interfaces

<Enhancements to the existing product>

We’ve enhanced the user interface of HCE-based contactless payments. This is a part of our mobile banking app.The added features include:

  • New labels, icons, card design and other elements to comply with IPS requirements

  • Root check with the option to disable HCE for increased security

  • Support of push-notifications on card blocking, security alerts, and other events 

  • Improved interface for payments in offline mode

  • The option to display an actual picture of the customer’s card

  • Step-by-step HCE payment tutorial 

  • And other features that improve usability and overall customer experience

Apple Pay In-app Provisioning

<A new set of product options, separately licensed>

Now WAY4 supports the complete customer engagement cycle for Apple Pay. Without leaving our mobile banking app end-users can see promotion screens, add cards to Apple Pay Wallet and receive confirmation messages. 

For each card in the user’s list, we have added a colorful icon. It indicates whether the card is linked to Apple Pay Wallet or not.

In-app tutorial

<A new set of product options, separately licensed>

Now your clients can watch tutorials encouraging them to try new functionality. Whenusers open the mobile banking app or certain menu item, they would see a sequence of promo screens. It serves toexplain complex features step-by-step or highlight special offers.

This WAY4 release includes explanation screens for HCE contactless payments. Our team can create more tutorials per request.  

You can also produce new tutorials in-house.

Financial Inclusion Wallet

<A new set of products, separately licensed>

We have been working on a more specific wallet model known as “financial inclusion wallet”. Its functionality partially coincides with our solution for tech-savvy and finance-savvy users but also supports specific requirements of certain countries and markets. 

Customer on-boarding

Users of WAY4 Financial Inclusion Wallet can:

  • Register by phone number 

  • Authenticate oneself using login/password, access code, biometrics

  • Link cards and accounts issued by 3rd parties to the wallet app

This wallet app works for both KYC and non-KYC customers. The latter get access only to basic features and lower operation limits, while KYC users enjoy the extended functionality and fewer limitations.

Current KYC procedure requires the user to visit the branch and fill in some personal information. We plan to support more KYC methods, such as scanning ID or linking the bank card.

Payments and transfers

Financial Inclusion Wallet provides the following key functions:

  • Wallet top-up from linked cards and accounts 

  • Cash top-up in physical locations (branches, offices, agents)

  • Bill payments – wallet users can search for outstanding bills by their phone number. Payments are done using the wallet account.They can also choose a service provider from the list, subscribe to bill notifications and set up recurring payments. 

  • Money transfers by phone number– the sender inputs the recipient’s number or chooses it from the contact list. Someone who is not a wallet user would need to download the app first, register and receive the transfer to the new wallet account. 

  • Money transfers by QR code. The recipient can use the wallet app to generate a QR code for the due amount. The sender uses his/her app to scan the code and complete the transaction.

  • Option for wallet cash out – users can transfer wallet funds to their linked cards/accounts and then withdraw cash via ATMs, bank branches, offices or agent outlets.

Customer journey management 

To make the app appealing and easy to use we have added the following functions:

  • Transaction history and analytics – users can view their financial status and purchase history in the form of pie-charts.

  • Multi-functional home screen – it displays the wallet account balance, various notifications and a selection of wallet functions.

  • Additional info services: geographic map, feedback forms, and push notifications about transactions.

  • Loan management - wallet users can request the issuance of a loan from 3rd party financial service providers. The borrowed funds are added to the wallet balance. 
    The loan itself will be visible in the wallet menu and can be repaid using wallet account. 
    The app supports every step of loan lifecycle: disbursement, KYC procedure, loan repayments. This release includes REST API for integration with 3rd party lenders.
    Also, users can link loan accounts of other people – relatives, friends – and repay such loans as their own.

loan_repayment.png

USSD Channel

<Pilot product>

We are also working on a separate solution called USSD Wallet. It facilitates low-cost financial inclusion in the emerging markets with undeveloped infrastructure, as well as the agency banking business model. 

ussd-wallet.png

USSD Wallet enables users to self-authenticate via their PIN and send instructions to the financial services provider, who can send responses to customers and confirm transactions.  On both the agent and customer sides the solution supports:

  • Customer on-boarding

  • Money transfers

  • Mobile top up

  • Cash in & Cash out

Unlike the smartphone-oriented payment apps that require an Internet connection and contactless interface (NFC or QR scanner), USSD Wallet works on the majority of mobile devices, including feature phones with no touch screen.  In addition, the USSD messages are a cheaper alternative to SMS. 

Merchant Wallet

<A new set of products, separately licensed>

WAY4 Merchant Wallet serves to decrease the cost of digital payment acceptance for sellers, especially SMEs. Now merchants have their own wallet app to  do the following:

  • Generate a QR-code for a particular purchase and accept mVisa payments from customers

  • See the history of their wallet transactions 

  • Receive real-time notifications about the transaction status (SMS, push)

  • Reverse transactions

Soon we will expand the functionally of Merchant Wallet by adding the Alipay acceptance.