Create Transaction Type

Introduction

This option allows the bank administrator to create various transaction types. For each transaction type, the bank administrator can define parameters such as initiator account type, initiator bank type, counter party type, counter party account type, counter party region, payee or debtor bank type, network, purpose, whether transaction limits should be applicable, the maximum number of entries allowed in a transaction, whether hot payment should be allowed, scheduling of transactions and recurring transactions to be allowed and the maximum scheduling period.

Navigation

• Click Create New in the List of Transaction Types screen.

OR

• Click Create New in the Transaction Type Definition screen.

• The Create Transaction Type 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

Transaction Category

Select the transaction category  from the drop-down.

Valid Values:

Receivables

Payables

Note:

This field is mandatory.

Transaction Type

Select the transaction type from the drop-down.

Valid Values:

Funds Transfers

Payments

Collections

Loan Redraw

Initiator Type

Indicates the initiator type allowed for the selected transaction type. The options available include Own Accounts and Third Party.

Valid Values:

Own Accounts,

Third Party Accounts,

Other Bank Accounts

Peer ID.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

Initiator Account Type

Indicates the type of accounts from which such transaction types can be initiated. The options available include Operative, Loan and Deposit accounts.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

Initiator Bank Type

Indicates the type of bank to which the initiator account must belong to for the specified transaction type. The options available include Own Bank and Other Banks.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

Peer to Peer Service Provider

Select Peer to Peer Service provider from the drop down

Note:

This field is alphanumeric.

This field is mandatory when user selects Peer Id as initiator type.

Counter Party Type

Indicates the type of counter parties allowed for the particular type of transaction. The options available include Own Accounts in Home bank, Own accounts in Other bank, Third party Accounts in Home Bank,  Personal Payees, Payment and Presentment Billers, Shopping Mall Payees, Employees, and Debtors and Peer to Peer Counterparty.

Peer to Peer Debtor, Peer to Peer Creditor, Ad hoc Peer to Peer debtor, Ad hoc Peer to Peer creditor as counterparty to this field’.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

If the bank administrator selects Peer ID as initiator type, then it is Mandatory that bank administrator can select any combination of the below listed counterparty type

• Peer to Peer Debtor,

• Peer to Peer Creditor,

• Ad hoc Peer to Peer debtor,

• Ad hoc Peer to Peer creditor

If user selects other than Peer Id in Initiator type and selects any Peer based counterparties then,system will display appropriate error message.

Counter Party Account Type

Indicates the type of accounts of the counter party allowed for initiating the transactions. The options available include operative, loan, deposit accounts and Peer to Peer IDs.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

Number of Peer to Peer IDs depends on the number of P2P service providers tied up with the bank.

Counter Party Region

Indicates the region to which the counter parties allowed for the transaction type belong to. The options include Domestic and International.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

Payee/Debtor Bank Type

Indicates the type of banks to which the accounts of the counter party defined is allowed to belong to.  The options available include Home Bank and Other Bank.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

Counter Party ID

Any specific counter party can be associated with the transaction type being defined, by specifying the counter party IDs here.

Network

Indicates the networks allowed for the transaction type. The options may include ACH, SWIFT, RTGS, Within Bank and No Network.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

Purpose

The purpose allowed for the transaction type can be selected from the list screen. The values for this field can be created under COCD type TXP.

Note:

This field is mandatory.

More than one record can be selected by holding down Ctrl key.

Transaction Limits Applicable

Indicates whether transaction limits should be applied for the transaction type, can be indicated through the check box.

Maximum number of entries in a transaction

Specify the maximum number of entries allowed for the transaction type.

Note:

This field is mandatory.

Hot Payment Allowed

Indicates whether hot payment to be allowed for the transaction type, can be indicated through the check box.

Scheduling Allowed

Indicates whether scheduling of transactions to be allowed for the transaction type, can be indicated through the check box.

Recurring Allowed

Indicates if recurring type of transaction to be allowed for the transaction type, can be indicated through the check box.

Maximum scheduling period (in days)

The maximum period (in days) for which this transaction type can be scheduled.

Template Supported

Select valid value for this field.

Note:

• Selecting “Yes” radio button will intend that Templates functionality is applicable for the transaction type, if “No” is selected

• If “No” is selected; templates functionality is not applicable for the transaction type.

Notification for Payment Required

Select the appropriate radio button to activate the payment notification for the transaction type.

Valid Values:

Yes

No

Note:

• While creating transaction types, bank user can specify if a transaction type should be enabled for Payment Notification or not.

  Enables the user to notify the beneficiaries/ payees on the payments initiated. While initiating payments, if the user wants the payee to be notified on the payment, the user can mention the required channel details and notify the payee. For example, user can choose SMS as a channel; mention the relevant mobile number and submit for notification. The payee would receive the message for the payment done on the specified mobile number.

• If this flag is set to YES then the users will be enabled to set notification for the specific transaction type.

• Payee notification can be enabled for all payable transaction types based on bank configuration.

Terms & Conditions Required

Select the appropriate option button to enable the terms and condition hyperlink at the transaction screens.