Paysys Labs specializes in payment system advisory and implementation support. Our advisory work ranges from dealing with national-level Payment System Providers and Operators (PSPs and PSOs), to credit unions in Southeast Asia. The company has experience in strategic review of payment initiatives, market landscaping, deep expertise of technical implementation, and experience in implementation of solutions that drive uptake of
digital financial services (DFS).
overview
Advisory Services
Specialized Services
Real-time retail payment system development
Mobile technology and digital commerce are driving the need for safer and faster payments, which has resulted in real-time payments expanding across the globe at an unprecedented pace. Our team possesses diverse experience, having worked on several projects related to Instant Payment Systems. Via consultation with regulators, payment service providers, payment system operators, digital financial service providers, and other payment system participants, Paysys Labs advises on the development of national instant retail payment systems, as well as the scheme rules centered around such systems. Areas of focus include use case design and development, business and technical rules design, drafting of RFP documents for procurement, commercial agreements and SOPs, as well as design of governance structures.
Market landscaping, research, and technical assessments
We believe that each market implementation is unique, and requires a thorough understanding of the context. We build on our rich experience, leverage best practices, and develop a sound understanding of the context, in order to meet the desired objectives of all projects we are involved in. For every project we work on, our team conducts a thorough assessment of the digital financial ecosystem, financial and payments infrastructure, DFS services offered, regulatory environment, and consumer needs – Findings from these assessments help us contextualize the task at-hand, and drive future decision-making.
Technology advisory on Banks & Fintechs ADC Strategy
Alternate Delivery Channels have increased in importance due to innovations in information and communication technology, and a shift in consumer expectations. Unfortunately, many DFSPs lack the technical knowledge or skills needed to successfully implement ADCs. We have worked with top-tier banks to create omni-channel mobile applications, with support for various features such as real-time monitoring services, virtual card provisioning, and NFC capabilities. We advise organizations through the entire ADC strategy lifecycle – definition of business objectives and development a business case based on channel strategy, all the way up to procurement, configuration, and pilot of the systems.
Recent Experiences
EthSwitch (2020-present):
Technical Consultancy in the Procurement of an Interoperable, Real-time, Digital Retail Payments Platform, EthSwitch S.C
EthSwitch owns and operates Ethiopia’s national interoperable switch and clearing system, as well as the country’s domestic card scheme. The share company has planned to on-board a System Integrator (SI) to implement an interoperable, real-time, retail payment platform. To this end, Paysys currently serves as a technical assistant to EthSwitch, and has designed the RFP document that encapsulates all business requirements to be covered by the SI. Prior to drafting of the RFP document, Paysys conducted extensive research and market landscaping, requirement gathering sessions, online workshops with shortlisted SI’s and future participants in the instant payment ecosystem, and designed matrices to streamline evaluation of RFP responses. As of now, Paysys continues to serve as a technical consultant to EthSwitch.
Paysys Global – WOCCU (2018-2019):
Planning for Real-time Interoperable Payment System for Cooperatives and Credit Unions, World Council for Credit Unions (WOCCU)
Working as sub-contractors for Paysys Global, the purpose of the project was to develop a business case and plan for the development of a DFS Interoperability Toolkit, and the establishment of a credit union led interoperable retail payment scheme and switch in the Philippines and Indonesia. The planning phase for design of the toolkit was for a period of 1 year.
Our team was involved in market landscaping, regulatory review, defining scheme design choices, use cases, potential governance and operating models, and prototype solution testing. Finally, our team presented a working demo to end users, where interoperable transactions were showcased via the prototyped solution.
1Link Pvt Ltd (2017-2018)
Design and Provision of innovative solutions, 1Link Pvt Ltd
1Link is a consortium of major banks that own and operate the largest representative interbank network in Pakistan. We designed modern solutions for 1LINK, which it offers its member banks for easier integration on new use cases that are scheduled for roll out. This includes:
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Request to Pay payments
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IBFT (Instant Funds Transfers)
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1ID – Biometric interoperability
The solution was designed to reduce time to market for clients.
Afghanistan Payments System (2016-2017)
Assessment and advisory for the national cards and mobile payment switch, APS
Worked with FAIDA on the national cards & mobile payment switch of Afghanistan (operated by APS). Performed an overall assessment of the project, and provided recommendations to revamp the national switch. Also provided capacity building exercises for various use-cases. Our team designed a background questionnaire and engaged in thorough industry data collection. Furthermore, our team conducted an extensive documentation review, which including functional specifications documents, SLAs, system documentations, and the project contract. Finally, we conducted in-depth interviews and workshops with various stakeholders to optimize decision-making for revamping of the switch.