Streamlined refunds for banks and corporate clients

The latest update to Electrum’s Enterprise Payments Channel now enables corporate clients to initiate and process refunds for completed PayShap Request payments.

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Corporate real-time payments

New Functionality

Easy customer refunds with Electrum’s RTP Refund solution

Electrum’s RTP Refund solution enables corporate clients to initiate refunds for completed RTP payments in a simple, real-time manner, with clear tracking and visibility across every step of the refund process.

This new functionality gives corporate clients the ability to handle customer returns and disputes efficiently, all completed using PayShap.

Seamless refunds

Refunds are tied directly to the original RTP, simplifying the tracing process.

Operational efficiency

Automate and track refunds via Electrum’s RTP store, reducing manual handling and customer service overhead.

Build trust with customers

A secure and real-time alternative for returning funds to end users.

Fully integrated processes

Electrum’s solution processes refunds through the same RTP infrastructure with linked message information for easy reconciliation.

Banks benefit from improved operational efficiency and simplified deployment and maintenance via this solution.

Operational efficiency

Electrum manages the technical aspects of refund initiation and processing, reducing the complexity for the bank and avoiding the need for bespoke builds.

Integrated with existing RTP flows

Works as part of the existing RTP integration, simplifying deployment and maintenance.

Improved customer experience

Enables banks to support seamless refund processes for their corporate clients to offer more flexible payment services to their end users.

Coming Soon

Banks can look forward to the next release of Electrum’s Enterprise Payments Channel solution, which is expected to include:

Bulk transaction processing for the initiation of multiple Request-to-Pay transactions via a streamlined bulk API operation.

Outbound PayShap for real-time disbursements to make real-time payouts using PayShap.

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