Fintech Routing

Check the Fintech Routing API reference here.

In the world of payment, Fintechs help organizations, merchants, and consumers to manage their financial operations, processes, and day-to-day activities by utilizing specialized software and algorithms that are used on POS or payment devices.

Financial institutions or new fintech banking solutions, when connected to payment devices respond to consumer demand for increased convenience. This allows consumers to access different activities directly through the PPaaS platform, via mobile or web. Once consumers have their account, integration with PPaaS allows them to verify their identities, transfer money to merchants they have in their personal address books or use any of the credit cards they have stored without the need to enter card details when they shop. The fintech apps communicate with the PPaaS servers and exchange relevant information.

Use of traditional banking is declining with increased use of digital-only banks that allow consumers to establish account opening, verification, authorization, and money transfers at any time and from any location. It ensures lower costs and broader accessibility.

About the Fintech Routing service domain in PPaaS

The Fintech Routing service domain allows the POS / ECR to connect to Service Provider APIs through PPaaS. PPaaS does not perform any processing but calls the Service Provider APIs and forwards responses on behalf of the POS. The Fintech Routing Service Domain enables integrations that enables the terminal or POS to call specific APIs from different providers through a redirection from PPaaS.

Fintech Routing environment components

Fintech hub is the interface to fintech providers, once the service is implemented through the configuration parameters in the Tenant portal, the service is available for configuration by PPaaS Clients. Based on the configuration setting, merchants can address the request to the relevant fintech provider.

Fintech Routing workflow

• Accept the Fintech service domain request to process: This is available when a merchant has subscribed to the Fintech Routing service domain for a specific service provider. The merchant requests to connect with specific service providers and PPaaS can then accept the merchant payload.

• Pass through the request to designated service provider: When a merchant sends a request to connect with a specific service provider, PPaaS does not modify the request data, it forwards the same request but adapts it to the specific format provide by the Fintech service.

Fintech Routing Public API

This API can be used by an ISV/merchant to develop an application or apply the data received from the service provider on their own application. The Public API is a pass-thru API which, by receiving the payload data from PPaaS enabled payment devices, allows the call to an external service provider API.

Prerequisites

Ensure that you have completed the following prerequisites for Fintech Service:

• You have registered a developer account and completed authorization.

• Your payment device is enabled with the Fintech Service subscription.

An ISV/merchant must first be onboarded on PPaaS and the ISV/merchant subscribed to the respective service provider. In addition, before consuming the PPaaS Fintech Public SPI, the ISV/merchant must decide on which API from the service provider they want to consume through the PPaaS Fintech Service domain.

Configure Fintech services

PPaaS clients can configure the settings of the Fintech Service that generates the customer experience at the payment device. The following table lists the configuration fields which clients can configure as required.