Project Location: Abu Dhabi, United Arab emirates
ADCB Bank is using a closed-loop prepaid cashless system for the satisfaction of its customers. A closed-loop cashless system is ADCB Bank operates an electronic payment system that a cardholder can only use to make purchases from any IN campus Merchants. It’s also called a single all in one campus card. Closed-loop cashless cards work at only appointed onboarded Merchants within all campus locations.
- The ADCB needs to add a cashless system, which is helpful for its student customers for a simple transactions.
- ADCB wishes to offer a more attractive Transaction fee percentage to all its appointed merchants.
- ADCB wishes to provide more cashback and loyalty points offers to all campus students.
- The student uses white access cards to secondary cards for campus cashless transactions within School campuses.
- Most people in business prefer time saving and secure banks, therefore it is essential to add a cashless system for campus cashless payment transactions.
Benefits of Cashless prepaid card solution :
- Cashless system project will enable them to avoid the use of paper-based banknotes.
- Online transactions can be done easily.
- There will be no need to keep cash with you always.
- Portable and existing white small size card.
- The cashless system is secure and fast.
- It is easy to manage.
- It is a quick and timesaving system.
- The cashless system lowers the chance of robbery and counterfeit money.
- It reduces the efforts of transporting and counting the cash.
- Secured PCI-DSS POS merchant terminals deployed in all campus locations.
- It makes a faster transaction.
- Self Service Student card activation for Cashless Card payment activations
- Merchant settlement and recon modules are deployed
- End to End Security of Infrastructure, Middleware and Comm. channels, etc.
- Role-Based Access to an online portal to be given to all school’s admin, Merchants admin, Banks Admin, Service provider admins, etc.
- A cashless system Protects merchants and banks from misuse or fraud attempts.
- It saves time and cost on Onboarding Merchants to the closed-loop payment system.
- Integration to Banks Core Payment switch using ISO 8583 Messaging comm.