.png)
Web-based Payment Data Transfer Portal
Thitsa Payment Portal is a web-based payment data transfer portal powered by Mojaloop technology for financial institutions to connect real-time payment networks to perform digital payments without the necessity of acquiring a core banking system.
The objective of the current development phase of Thitsa Payment Portal (TPP) is to build the digital bulk repayment and disbursement capability for microfinance institutions (MFIs) and mobile money providers (MMPs). The system aims to assist MFI with a core banking system that does not support API integration or MFI without a core banking system.
Financial Service Provider: having Core Banking with API capabilities
Financial Service Provider without Core Banking
Financial Service Provider: having Core Banking without API capabilities
Payment Manager
Thitsa Payment Portal
Payment Switch
Wallet A
Wallet B
Overview of TPP
Technology behind TPP
Thitsa Payment Portal is powered by Mojaloop technology which utilizes the Interledger Protocol, enabling seamless settlement of payments across diverse networks, including multiple Mobile Network Operators (MNOs), commercial banks, and even central banks.
Use Cases
Loan Officer
Excel File
(Bulk Transfer)
Thitsa Payment Portal
Payment Switch
Wallet A
MFI Client 1
Wallet B
MFI Client 2
Disbursement
In “loan disbursement to wallet” use case, the bulk loan disbursement can be done with the simple process of uploading of the KYC details (phone number and mobile money provider name [example m pay, pigeon pay]) files of the borrowers for disbursement by the MFI. MFI borrower’s phone number (MSISDN) and mobile money provider name is used to identify the mobile wallet account and the recipient Mobile Money Provider (MMP).
Note that an end user may have multiple mobile wallet accounts with different Mobile Money Provider (MMPs), hosted on the same mobile device and associated with the same phone number (MSISDN). When an end user registers at an MFI to become a borrower, they must provide details of the mobile wallet account where they would like loans to be disbursed. This registration step involves specifying the Mobile Money Provider (MMP) that manages the chosen mobile wallet account which helps the MFI unambiguously identify where the loan must be sent.
Repayment
MFI Client 1
MFI Client 2
Wallet A
Wallet B
Payment Switch
Thitsa Payment Portal
Excel File
Treasury/ Finance
In the loan repayment from wallet use case, the MFI borrowers themselves or someone on behalf of the borrowers can easily repay their loans from their mobile wallet accounts by specifying the MFI account number (which is used to uniquely the identify the MFI they are making payment) and their mobile phone number.
Potential Use Cases
In terms of feasibility and scalability, Thitsa Payment Portal works with any payment switch powered by Mojaloop technology and will bridge Digital Financial Service Providers (DFSPs) around the globe without core system and/or API capabilities to a real-time payment switch.
Why Thitsa Payment Portal?
Tight Security
Thitsa Payment Portal ensures accurate data entry and verification through the Maker and Checker mechanism. Two factor authentication is used for verification for logging in to secure data privacy.
Easy to Operate
Within a few clicks of uploading and downloading, loans will be disbursed, and repayments will be listed down making digitization process timely and efficient.
Cost Effective
Thitsa Payment Portal is designed to remove the precondition of expensive modern core banking for MFIs and Credit Unions to realize the benefits of digitized payments and transactions.
Connected to An Ecosystem
Connecting to the real-time payment switch is made easier just by onboarding Thitsa Payment Portal. No need to acquire expensive core banking system or the human resources to maintain it. Log in to the portal and you are connected to the interoperable ecosystem.
Getting Started
-
An MFI without core banking system and/or API capabilities can connect to Thitsa Payment Portal to upload or download bulk payments.
-
Loan disbursement and loan repayment process will be real-time once the data is uploaded, and data privacy will be the top priority in this portal.
-
The identifier of the Digital Financial Service Provider, a mobile wallet account and a phone number of the borrowers would be all you need to make bulk payments through the portal.
-
Contact us for more details.
Get in Touch Today
+65 8598 0447
+959 770 220 002
SINGAPORE
14-04, Singapore Business Federation Centre, Singapore 068914
MYANMAR
No. 33, Latt Moe Swe 2nd Street, Bayint Naung Avenue, Insein Township, Yangon, Myanmar
Who we are
What we do
Products
Resources
© 2023 ThitsaWorks Pte.Ltd. | All Rights Reserved