Essentis Issuer

Key Features

The following are the key features of the Essentis Issuer Product:

• Multi-Institution Processing, supporting institution-level reporting and access security.
• Multi-Currency Processing, including support for multi-currency plastics and multi-currency corporate and family account structures. Any number of currencies can operate within a single issuing institution, with currency selected at account level.
• Multi-Language capability for both customers and end users.
• Rules-based Product Definition providing comprehensive support for the complete range of payment card products, including credit, charge, debit and prepaid, for both corporate and consumer programs. This rules-based approach minimises duplication of parameter values and reduces the effort required to maintain them.
• EMV Compliance – supporting the Visa and MasterCard specifications for EMV debit/credit products, including chip parameter maintenance, cryptogram verification, authorisation decisioning and post-issuance updates.
• Comprehensive Business, Purchasing and Family Card facilities, supporting the definition of account hierarchies, which enable authorisation, posting, statementing and settlement to take place at the appropriate levels, and with full support for the multi-currency requirements of international companies.
• A genuine Customer View that recognises the customer as an individual irrespective of the number of addresses and products used by that customer.
• Independence of Cards and Accounts, supporting many different types of relationships between cards and accounts, and avoiding the need for account transfers when cards are lost or stolen.
• Support for multiple Distribution Channels for card and PIN mailers, e.g. branch, post, courier.
• Temporary Promotions, with the ability to support any number of programs simultaneously, and vary any product terms for specified periods.
• Product Upgrade/Downgrade supported as standard.
• Transaction Level Pricing and Billing – allowing the billing rules and interest rate to be specified at individual transaction level, with no limit on the number of rates that can be supported in a single account.
• Instalment Billing of individual transactions within a credit card account, or through separate loan accounts.
• Comprehensive Access Security capability down to individual Field Level.
• Loyalty programs, with flexible rules for bonus points calculations, multiple redemption methods and automatic annual fee discounts.
• Flexible Search, Selection and Reporting capability through the use of SQL tools against the relational database.
• Ability to define the complete range of Account Processing Parameters for all products and user-defined cardholder groupings, and to implement overrides for individual accounts.
• Range of Interest Calculation methods, including average daily balance and daily accrual and with grace facility selectable by balance component.
• Credit interest, with tiered rates available and tax options.
• Variable Billing Periods, including weekly, bi-weekly and bi-monthly, as well as the monthly default option.
• Multiple Credit Limits and Periodic Spending Limits, with the ability to define limits for specified transaction types, MCC groupings and high-risk countries.
• Flexible definition of Transaction-Based Fees, including flat rate and percentage fees.
• User-defined Transaction Code definition, to enable the differentiation of transactions within the system to be entirely under user control.
• Flexible definition of Insurance Premiums and Other Periodic Fees, billed at a user-defined frequency.
• Fixed Term Loan capabilities, with rule of 78 and daily interest options, and including early settlement, rescheduling and re-draw facilities.
• 24-hour availability of the system for on-line access and maintenance.
• Real-time posting of monetary transactions.
• Graphical User Interface delivered as standard.

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