Initiate Payment

Introduction

This screen allows retail user to initiate a funds payment. He can initiate funds payment to:

• Standard payees (both payment and presentment billers)

• Personal payees

• Adhoc payees

• Unregistered payees

Note:

1. Personal payee is a payee who is specific to each retail user. The retail user has to first create the personal payee as a counter party to be able to initiate and make a payment.

2. Personal payees and/or standard payees may have accounts within home bank or in other banks.

3. Unregistered payees are those billers for whom user has not registered but wishes to make a payment without going through the registration process.

4.  Adhoc payees are those whom the user has not registered earlier and wants to make a payment on Adhoc basis. Registration can be initiated while making the payment

The frequency of payments can be of two types, Single time or Recurring. In a recurring type of payment, the user has to specify number of installments and validity indicator.

User can create more than one payment request using the facility “Add New Entry” i.e. user can initiate multiple funds payment request at the same time.

If the user is initiating a transaction:

• In a currency other than home currency, he/she has the option to view online Currency exchange rate using “Check Counter Rate” option. The exchange rate can be fetched from the core system, by replicating rate code set up as in core and by mapping the rate mode and rate codes appropriately. This should be done by the bank admin user. The PRPM parameter DEFAULT_RATE_CODE_FOR_CR for MID rate mode should match the value in core.

• User can select the appropriate network for the corresponding transaction. He/she can even view the details of the selected network using “View applicable networks” option.

• In case the user submits a transaction without specifying the network, the system will select the network based on whether the transaction is within the bank or not.

•  In case the transaction is a within bank transaction, then the default within bank network ,defined in PRPM as the value for the property WITHINBANK_DEFAULT_NETWORK, is considered as the deduced network.

• In case it is not a within bank transaction, network defined in PRPM with property name as  <REGION_CODE _DEFAULT_NETWORK is then taken as the network . To calculate this, first the counter party country code is fetched for the payment. For the country code, the region code is fetched from Country Parameter Maintenance.

• In case of Shopping Mall Payments, if the external Shopping Mall URL passes on account ID to Finacle e-Banking, then the same will be validated. Finacle e-Banking application does a validation as to whether the account number provided by the URL is enabled for shopping mall payment or not. If the account is not enabled for shopping mall payments, user will not be allowed to log in to the e-banking application and an error message “You do not have access to the mentioned account number or it is Invalid. Please enter a valid account number” will be displayed.

Note:

1. If user has created 5 payment requests, then each request will be considered as a separate entry, that is, each of these 5 transactions will have a unique entry iD. For each of these entry IDs, limits and all other various transaction related parameters will be considered separately.

2. The user also can modify or delete any of the payments in the list of transactions.

3. If a transaction type definition by bank administrator is such that a transaction is initiated with a single entry, then the data entry screen and details or confirmation screens will reflect the details in a single section itself instead of splitting into common details and entry level details.

Duplicate Transaction Check

Whenever a user initiates a transaction, Finacle e-Banking will do a check to see whether the entered transaction is a duplication of the previously entered transaction during day. For performing this check, the inputs taken are;

• Counterparty

• Transaction Date

• Transaction Amount

If a transaction entered by the user matches with another transaction on a particular day with respect to the above listed three parameters, then a warning message will be displayed to the user. The warning message displayed will be “Entry with same Transaction Date, Counter Party and Transaction Amount Already Exists”. However user can still continue with the transaction.

For Example:

If User U1 transfers Rs.10,000 to one of the counterparties C1 on 1st January 2012 and later on the same day, if he tries to transfer another Rs. 10,000 to the same counterparty C1 then, e-Banking application displays the warning message.

This check is performed on submitting a single entry in to the transaction as well as adding multiple entries to a transaction. While checking for duplicate transaction Finacle e-Banking will also check the transactions which are Scheduled and Waiting for approval.

Note:

• Transaction with the below mentioned status will not be considered for duplicate transaction check.

• • Repaired

  • Expired

  • Failed

  • Pending For My Approval

  • Recalled

  • Rejected

  • Saved

Navigation

• Click Initiate Payments in the Transaction Management menu option

• The Initiate Payment screen is displayed.

What you can do

The table below provides a brief description of the data that should be entered on the screen and the functions you can perform:

Field

Description

COMMON  DETAILS

Frequency Type

Drop-down

Select the appropriate option.

Valid values:

• One time - Default

• Recurring

Note:

On selecting Recurring and clicking the Go button few additional fields appear. Based on the requirement the user can prefer to do one time or recurring payment.

Transaction Date

The date of transaction can be selected form the calendar widget. If current date is provided then it is considered as an instantaneous payment, else scheduled. Back dated transactions are not possible.

Note:

This transaction date is valid only for One time transaction.

Validity Indicator

Select the validity indicator.

Valid Values:

Next valid date

Previous valid date

Skip

Note:

If there is a currency holiday for the selected transaction date, based on the validity indicator the date is recalculated.

Transaction Currency

Choose the transaction currency from the drop-down.

Manual Release Required

You can select this check box to hold the transaction for some reason and later release the transactions for posting.

Note:

The below fields are displayed only for Recurring transactions.

Recurring Date

Select the date on which the transaction should be repeated.

Frequency

From the drop-down list select the frequency.

Valid Values

• Daily

• Weekly

• Monthly

• Quarterly

• Half Yearly

• Yearly

• Every ‘N’ Days

Number of days

If Every N Days is selected in Frequency field then enter the value for Number of days.

First Payment Date

Enter the Date from which the recurring payments should start.

End Date

Enter the date on which the payments should stop. Select the check box to default the date as the last payment date.

ADD ENTRY DETAILS

Initiator Details

Account

The retail user can select the origination account (Dr Account) from the drop-down..

If the values in the account drop-down increase beyond a pre-configured value, then the drop-down will be changed to lookup.

Click View Account Details to view the details of the account selected.

Note:

Available balance in the account will be displayed next to the field.  (If the Java Scripts are not enabled in Browser then the balance cannot be displayed here.)

Transaction Reference Name

Type the reference name for the transaction, which can be used for retrieval of the transaction details in the future.

Note:

This is a text field and there will not be any validations on this field.

Counter party details

Counterparty Type & Nickname

The counterparty type can be

• Personal Payees – Choose from Drop-down

• Payment Billers – Choose from Drop-down

• Presentment Billers – Look Up

• Unregistered Payees – Look Up

• Adhoc Personal Payee

Note:

Logo of the biller will be displayed against the name of the biller for easy identification of the biller. Same will be displayed even in the preview confirmation page and payment confirmation screens.

Note:

The following four fields are applicable for making an Adhoc payment.

Name

Enter the name of the payee to whom Adhoc payment is made.

Account Number

Enter the Account number of the payee for Adhoc payment.

Bank Identifier

Enter or select the Bank where the account is maintained, from the look up.

Add to personal payee list

Select the check box to add the Adhoc payee to the personal payee list for future payments.

Network

Select the applicable network for the transaction. Click View Applicable Networks link to get the list of networks applicable for the transaction type.

Note:

This field is mandatory for making Adhoc payments.

Amount

Enter the transaction amount. Click Check Counter Rate for its transaction currency and account currency are different.

Remark

Enter the remarks for the transaction.

Transaction Purpose

Select the appropriate purpose for the funds payment transaction from the drop-down.

Notification Details

Click the link to view the notification details.

Note:

• If notification is not defined for the payee, “Set notification” will be shown upon clicking the hyperlink “Notification details”. If the notification details are set during payee addition same will be available here.

• If user has chosen two SMS channels, then the value will be ‘SMS’ and ‘SMS(2)’.

• User can modify the channel and address details for the notification channel here.

• In addition to modifying the channel details user can also add a personalized message to be displayed to the payee.