Pyro’s Mobile Money Platform is robust and is built on multiple levels. It enables mobile users to make financial transactions even if they don’t hold a bank account. The various levels in the Platform such as Application level, the Database level, the Transaction level, Data security, Fraud Prevention and Management, Multi Access and Multi Level Report Repository and Audit Trail enable seamless mobile transactions.
The application is designed keeping the security and sensibility of financial transactions. All transactions interact directly with application and transaction related data are stored in the application. The application requires a valid user ID and password in order to use the system.
The database interacts with only authorised external entities. The data is stored in an encrypted form in the database. Access to the Master Database of transactions is protected by a strong password and database access is allowed only to the internal modules. All the vital data in the database is protected using the 3DES algorithm.
The application interacts with the server via secure channel with encrypted (3DES) data. The data is encrypted at the application end and transported over a secured medium. Once the request hits the server, the data is decrypted and further processed as per the request and a response is sent back in the encrypted form via secured medium to the application.
Data Security for all transactions is implemented using the 3DES algorithm. The 3DES algorithm is a very popular cipher block and secure algorithm which is used in several data communication systems. All transactions employ the 3DES algorithm for encryption of data between internal modules.
Velocity Check: The platform continuously monitors the application logs or transactional logs to ensure that multiple requests are not emanating from the same mobile number/IP within the specified time duration to same beneficiary. If such a case arises, the mobile money platform rejects such requests automatically.
Standard Velocity Check: Transaction denial occurs whenever the daily/weekly/monthly limit on the number of transactions for a wallet is exceeded.
Enhanced Velocity Check: Transaction denial occurs whenever too many authorisation attempts with different wallets from the same phone number or IP address within a certain time period are made.
Reports are generated at various access points like reports for users, admin etc. They also generate at various levels like Transactions Report at Application level, Failed Request & Error Reports at Database level etc.
The Mobile Money Platform provides Audit trail log for auditing purpose. The log information access is configurable based on user privileges. Log holds information files related to end-to-end transaction and log field includes information/reports related to Message originator/destination, time, user login details, recipients detail etc.
The following types of audit logs are available:
Pyro’s Local Recharge Hub is a seamless and intelligent mobile financial solution that enables the transfer of International Airtime and Remittances. It also enables Mobile Recharges and Top-ups under GSMA open standards.
This Hub gives mobile subscribers the convenience of sending and receiving international remittances directly from/to their mobile handset instead of using internet. Customers will benefit from recharging their mobile phone while roaming using the visited network infrastructure and the visitor network Recharge voucher. Customers will not only be able to transfer money internationally, but would be able to pay bills/merchants in the visited country in a roaming scenario, and can pay bills/merchants of their loved ones from wherever they are in the world. Local Recharge Hub will also help the customers to send value to the receiver's mobile money account, which can be cashed out from the operator's retail chain.
MNOs are able to derive direct revenues from international remittance transactions & recharge transaction as well as indirect benefits from reduced customer churn. This provides additional revenue for MNOs as the subscribers perform other financial transactions from their mobile wallets. This platform will also help the web based Airtime seller to interface with only one system to get access to multiple services of multiple MNOs. In turn, MNOs can rely on single platform for settlement and reconciliation and receive a single Invoice for settlement.
Originating Mobile Money Operator
Mobile operators today are looking to cut down costs in terms of production and distribution and increase their over-all profits. As the pre-paid mobile customers are increasingly becoming a major part of a mobile operator’s subscriber base, the production and distribution of pre-paid recharge cards involves significant expenditure to a mobile operator. Pyro’s E-Top-up solution aims at cutting these costs for the mobile operators.
Pyro’s E-Top-up solution is designed to deliver a convenient way for prepaid subscribers to top-up their airtime irrespective of time and place with multiple channel sources. Pyro’s E-Top-up solution at the back-end enables the production and distribution of airtime for MNOs prepaid platform. This replaces the physical voucher recharge system by a dynamic system that enables the financial transactions seamlessly. It enables prepaid mobile subscribers to recharge their pre-paid accounts at a retailer outlet by making the payment directly to the retailer by sending appropriate commands to the Intelligent Networks (IN), which in turn handles the talk time transfer process. This solution offers all recharge denomination values.
Airtime stock distribution happens across the distribution network of the MNO and Pyro has set-up the seamless network for 117 million subscriber base and distributing airtime over a vast retail network of over 7,00,000 active retail points for BSNL across 21 circles for more than 5 years.
The benefits of the e-top up solution are as follows
Stock Movement (Main dealer to sub dealer and sub dealer to retailer)
Pyro is a Merchant Aggregator and Payment Solution Service Provider that enrolls merchants through whom e-commerce, bill payments, recharges and other mobile payment transactions can be processed. Pyro’s platform has aggregated merchant and retailers for mobile payment services with over 7,00,000 active retail points that virtually enabled for mobile money transactions and bill payments.
Pyro aggregates merchants, retailers and even small entrepreneurs and businessmen to become channel partners and setup a merchant account even though they or their customers does not have a bank account or credit card. Pyro provides the means for facilitating payment from the consumer via Pyro’s Mobile Money Platform that maintains virtual money for virtual transactions.
Pyro’s SpeedPay is a one stop solution that empowers merchants, retailers and customers to maintain virtual wallets on the Mobile Money Platform and make Mobile recharges, Bill Payments for utilities such as Electricity, Water, Gas etc, DTH/TV recharge, Broadband recharge, Movie tickets, Mobile Wallet top-ups, Indian Railways Tickets (IRCTC) Bus Tickets etc.
Airtime Advance Service solution is based on the concept of airtime advance to prepaid subscriber. Pyro’s Airtime Advance Platform allocates advance based on subscribers past record of consumption & recharges. Multiple parameters are considered for advance such as age on network, value of recharge, frequency of recharge, etc. After analysis of various parameters advance is allocated.
Airtime Advance Service platform is future ready and provides extensive reports on transactions and reconciliation. For handling customer queries the platform may also be integrated with Customer Care.
Airtime Advance Service solution provides operators a high revenue earning potential with minimal investment and zero financial risk.
Post analysis of subscriber history on certain parameters profiling is done, these parameters can be:
User Access Management:
Customer Care interface:
Pyro’s Mobile Money Platform also provides mobile wallet linked reloadable prepaid cards which are used to store money, transfer funds, make payments (in-store & online) and withdraw cash from ATMs. These cards are like prepaid money cards that allow the card holder to avail the following features: