This module is about the incidental setups that are required for transaction management and the biller related transactions.
The sections discussed here are:
Counterparty is the beneficiary or the debtor in a transaction who are not registered by the bank but are the consumers personal debtor/creditor. The counter party maintenance is the process of creating and maintaining beneficiaries for various payments from consumer.
Mandates are used in collection type of transactions. A mandate is a set of rules which are validated during the collection transaction. Mandates may be required for a collection transaction depending on retail user or network level properties.
The Manage Billers option allows consumer to register for billers created by the Bank, by giving their code. Billers are both bill payment and bill presentment payee. Consumer can also make their bill payment, edit biller registration details or deregister from the biller service.
Peer to Peer Payments allow a customer to pay or receive funds using a unique Peer to Peer ID without directly involving the bank account numbers.