PayWave India
Our Challenge
PayWave is a payment processor in India planning to launch a digital wallet and instant peer‑to‑peer transfers. The existing platform was based on a legacy core banking solution that could not handle real‑time payments or integrate with India’s Unified Payments Interface (UPI).
Solution & Steps.
- Core Platform Modernization. Migrated the legacy core to Mambu, enabling modular, API‑driven banking services.
- Payment System Integration. Implemented integration with UPI and SWIFT for international transfers, leveraging expertise in payment protocols.
- Open‑Banking API. Developed secure RESTful APIs adhering to PSD2 principles, enabling third‑party fintech partnerships.
- Risk & Compliance. Added real‑time AML/KYC checks and transaction monitoring. Conducted security reviews and obtained regulatory approvals.
Results.
PayWave’s digital wallet processed 5 million transactions in the first month. Open APIs attracted partnerships with e‑commerce and ride‑hailing apps, expanding its ecosystem.
Business Impact Result
Results & Benefits
- Reduced average incident resolution time from 4 hours to 35 minutes
- Eliminated 90% of after-hours emergency calls
- Cut monthly maintenance time by 60%
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