Bankworks Schemes
|
Schemes
Clearing and settlement of transactions is one of those key areas in the payment transaction cycle. RS2 understands that happy customers translate into healthy profits. This is why we have taken special care in designing and developing a solution that enables our customers tosettle and reconcile transactions efficiently in any possible scenario.
Calculation of interchange fees is an essential functionality for any financial institution calculating the expected acquired interchange revenue per transaction based on predefined rate programmes.
Bankworks Interchange Management System is a powerful tool that enables organisations to calculate interchange fees while ensuring that transactions qualify for the expected rate - leading to maximum cost savings for interchange fees.
Bankworks' strong FX and conversion capability keeps a history of the rates used for acquired and settled transactions for the card schemes and the merchant. This allows the acquirer to determine their exchange rate at any time.
Bankworks Schemes offers two modules, a) Interchange and Clearing and b) Settlement and Reconciliation. These modules are both fully flexible and adjustable to customers' needs and can be used as stand-alone modules that can easily be plugged into your existing systems. This means that you are able to enhance your clearing and settlement performance without implementing system changes.
Like all our products it has the ability to operate across an organisation's systems, branches and across borders. In designing this product, our key consideration has been and remains the customer. Through Bankworks Schemes we provide you with the tools to automate time-consuming processes efficiently and cost-effectively.
- Modules
- Features
- Capabilities
Bankworks Schemes Modules include:
Interchange and Clearing
Settlement and Reconciliation
Bankworks Schemes Features include:
Interchange and Clearing Features:
- Rate qualification and assessment based on pre-configured parameters
- 2 tier levels - Qualified/Non-Qualified
- 3 tier levels – Qualified/Mid-Qualified/Non-Qualified
- Support of Interchange Plus
- Support of Interchange Pass-thru
- Interchange Optimiser
Settlement and Reconciliation Features:
- Reconciliation across multiple/varied systems
- Settlement and Reconciliation per :
- BIN
- ICA
- Currency
- Client
- Products
Bankworks Schemes Capabilities include:
- All card schemes clearing formats are supported
- Global compliance of Interchange rates
- Rate qualification and assessment based on pre-configured parameters
- All Regions are supported
- On-us – where the card used has been issued by the same bank that owns the ATM or merchant account
- Domestic – where the acquirer and issuer reside in the same country
- Intra Europe – where the acquirer and issuer are within the European region. Fully support SEPA requirements
- Inter Europe – where the issuer is from Europe and the acquirer is from a non-European country (or vice versa)
- Foreign Asian Pacific region – acquirer and issuer are within the APAC region, as defined by the card associations including CUP
- Foreign Latin America / Caribbean region – acquirer and issuer are within the Latin America and Caribbean area, as defined by the card associations
- Foreign Central Europe / Middle East / Africa region – acquirer and issuer are within the Central European, Middle East and African region (SAMEA and CEMEA) regions, as defined by the card associations
- Multi cutoff support per day depending on card schemes, region etc
- Multi-Interchange programs support:
- Interchange Plus
- Standard
- Tiered
- Interchange Pass-thru
- Standard
- Tiered
- DCC
Contact us for further information about our Bankworks Switch >
Press Releases
| January 20, 2012Four Cards and Payments Elites join RS2's Advisory Committee RS2 forms a new Advisory Committee that will guide the company to keep on enhancing its BankWORKS card management system and international expansion.
|
| January 12, 2012RS2's Board Appoints New Chairman and C.E.O. The Board of RS2 agreed to appoint Mr Mario Schembri as Chairman and Mr Radi El Haj as Chief Executive Officer. During their careers both executives have worked closely on various RS2 projects.
|
| November 24, 2011RS2 exhibits at a Payment Innovation Summit in Shanghai RS2 participated as an exhibitor at Payment Innovation (China) Summit 2011 in Shanghai. The Director of Sales and Implementation, Mr Radi El Haj was present to meet attendees and discuss with them about BankWORKS and how it can be beneficial when implemented in their business.
|
News
| September 2, 2011New licences lead to surge in profits at RS2 Software plc RS2 Software p.l.c. published its Interim Financial Statements for the first half of the year 2011. The financial statements show a revenue of €4.7 million, a 67 per cent increase over the first six months of 2010.
Source: Times of Malta |
Testimonial
| OmniPay deploys Bankworks
Hubert O'Donoghue CEO, OmniPay
|
OmniPay has benefited hugely from deploying Bankworks as its Back Office Merchant Accounting System. Bankworks' flexible architecture and parameter driven rules based approach has supported the rapid growth of our business, which now processes in excess of 1 billion transactions annually.We look forward to continued sustained growth with the support of our vendor partner RS2.