Digital Wallet

Digital Wallet

The ATX Digital Wallet is a proven, robust and scalable electronic wallet solution for developed and developing markets. It can be used to transact any item that can be counted or unitized. Principal uses are money, but also include loyalty points, coupons, tokens and any other unit, such as kilowatts of energy.

Who can use it?

The technology can be provided as a turnkey, OEM, or hosted solution enabling financial institutions, retailers, payment service providers, merchants, banks, telecom operators, utility providers or other businesses to offer their customers smart and practically branded services.

Real-life business and use cases for financial and non-financial electronic wallet include:
  • Cash replacement using NFC, mag stripe and private-label cards
  • Enabling in-store and online micropayments
  • Managing pre-paid accounts for public transport, road tolls, mobile/Internet usage, etc
  • Bill and membership payments include scheduling payment intervals
  • Electronic Purse functionality for closed user groups such as schools, sporting and social clubs
  • Entertainment and transport ticketing
  • Conducting Government payments and issue of emergency relief via mobile devices
  • Mobile Banking and ATMs
  • Remitting contractor payments and corporate expenses
  • Automating existing loyalty and coupon programs
  • Cost-effective and convenient international fund transfers and peer- to-peer transactions

How does Digital Wallet work?

Digital wallets enable users to set up and manage personal accounts and perform transactions over the Internet – including via mobile devices – and/or via magnetic stripe cards, private-label cards and near field communications (NFC) equipped devices.

Branded digital wallet solutions are fast and easy to integrate with your existing core systems, and provide a way for you to take innovative new services to market fast.

The basic digital wallet transaction types are:
  • Deposit – A credit to a wallet of a specified amount
  • Withdrawal – A debit of a wallet by a specified amount
  • Pre-authorization – A reservation of funds on the wallet
  • Chargeback – A reversal of a prior debit transaction
These transaction types enable a customer to get money onto the wallet, transfer money to other wallets and get money out of the wallet.

What is in our offer?

– Flexibility: ATX Digital Wallet can be used to manage and transact with any item that can be counted and unitized.
  • Loyalty Points
  • Coupons
  • Money
  • Virtual currencies
  • Units of energy
– Security: Financial industry security standards are incorporated into the system to ensure customer confidence in using the platform.

– Access: The business rules for a transaction have been abstracted from the transaction device enabling customers to use a wide variety of devices to perform transactions.

Why ATX Digital Wallet solution?

Digital Wallet uses other ATX modules to integrate with telecommunications infrastructure, financial institutions, and other third-parties using standards-based and proprietary protocols. Settlement of user accounts with external and internal agencies is achieved by regular production of multi-party electronic banking files containing all settlement details.

Enables service providers to offer a broad range of new and innovative services to their customers and clients, that can be accessed from point of sales devices, mobile phones, or traditional cards complemented with power of latest technologies like iBeacon, Bluetooth LE, QR codes to advanced 
mobile applications.