How do ATMs and internet/mobile banking systems enable bill payments and mobile top-ups for telecom providers?
Payments
Asked by Question Bot08/Nov/20141 answer
1 Answer
F
Faisal Khan
Answered 08/Nov/2014
This is done through the financial middleware solutions that are typically installed in a bank. The middleware solution is essentially a channel management controller that allows for a bank to address present and upcoming electronic Banking and/or payment initiatives.
The flow of the layers within such a middleware can vary, but it is typically goes something like this:
The very top layer is the access layer, from which a client engages, and the very bottom layer is the connection layer that connects to various channels (for example, in your Question's case, it would be the Telco Billing & Payments API).
The authorization and confirmation of funds would be taken from the Bank Host, and checked against the HSM (if required). Once confirmed, it will be routed through and pushed to the Telco API for loading of funds.
Both the Telco and the Bank maintain ledgers to do net deferred settlement on agreed intervals.
The flow of the layers within such a middleware can vary, but it is typically goes something like this:
The very top layer is the access layer, from which a client engages, and the very bottom layer is the connection layer that connects to various channels (for example, in your Question's case, it would be the Telco Billing & Payments API).
The authorization and confirmation of funds would be taken from the Bank Host, and checked against the HSM (if required). Once confirmed, it will be routed through and pushed to the Telco API for loading of funds.
Both the Telco and the Bank maintain ledgers to do net deferred settlement on agreed intervals.