<New set of product options, separately licensed>
Now bank customers can save time by initiating multiple transactions with a single button click. It is also cost-saving for the financial institution, which avoids having to send multiple SMS messages with one-time passwords. To this end, we have enriched the self-service banking menu with a Payment Cart feature. The cart can combine payments, money transfers, and bill payments (invoices). To confirm checkout, the app user enters a one-time password. Then WAY4 displays a list of confirmations, one for each cart item.
The Payment Cart feature works like a shortcut for multiple payments
<Enhancements to the existing product>
The mobile banking app now helps bank customers make more informed decisions about currency management. WAY4 displays simultaneously two sets of currency exchange rates, the rate of the app provider and the rate of the Central Bank. The forex rates are fetched from the core banking system or from WAY4 itself.
Smarter currency exchange decisions: two sets of fx rates on the same screen
<Enhancements to the existing product>
Now, WAY4-based mobile apps allow Visa cardholders to pay at POS terminals by simply tapping their smartphone. They don’t need Apple Pay, Google Pay or any other e-wallet, since WAY4 itself manages card tokenization.
Issuers can enable this option by using our new Visa HCE SDK. It is currently going through Visa certification.
One-tap Visa NFC payments in a WAY4-based mobile app, no other apps needed
<Enhancements to the existing product>
We’ve improved the user experience in P2P transfers where the recipient’s phone number doesn’t match any client records.
Now it takes senders less time to initiate the operation. They can take two steps on the same screen – read the notification about an unknown recipient, and confirm the transfer request with a single click.
On the recipient side, we have redesigned the transfer acceptance page. Its look is more official, since now it includes the bank logo, the sender’s name and personalized comment. Also, the new color scheme and button shapes comply with modern app design trends.
User-friendly and data-rich screens for transfer recipients
Now it’s easier for transfer recipients to comply with strict foreign exchange control, anti-money laundering and anti-terrorism regulations. WAY4 gives flexibility in how to proceed with the incoming funds:
After auto-depositing money to a card or account and being notified, the recipient can reverse any suspicious transfer.
A transfer recipient can reverse an operation and return money to the sender
The recipient can pre-configure money acceptance rules based on currency. For example, funds in USD can automatically go to a Visa salary card, GBP funds to a Mastercard card, and all EUR funds to a debit account, while transfers in any other currency can be entirely rejected.
Separate transfer acceptance rules for each currency
<Enhancements to the existing product>
Now WAY4 combines biller data from its own database and external systems, and displays to customers an expanded menu of service providers and billers relevant to them. Customers can use either WAY4 to manage their list of service providers or an external system.
<New set of product options, separately licensed>
Now, the transaction history on the web banking channel is just as informative as the history in the mobile app. WAY4 displays store brand names and logos next to retail payments. Under the most recent transaction involving a specific merchant, app users can see discounts, coupons, cashback, and other benefits offered by that merchant.
Additionally, WAY4 marks past transactions with merchant category icons. It allows consumers to differentiate at a glance food purchases from fuel top-ups, entertainment spending from dining out, and so on.
The extended set of data is managed by the bank in its merchant handbook.