Pay2Corp

Struggling with mapping of invoices? Not anymore! Pay2Corp helps you do exactly the same.

Large corporates or Government banking entities, receive large number of payments via RTGS/ NEFT from their distributors/channel partners. E-collection does the job for mapping the source of payment, but still, there is a need to identify the source as well as the invoice against which such payments have come through.

Pay2Corp is customised to address the above concern and enables Dealer/Distributers to pay the funds through National Automated Clearing House (NACH), Payment gateways, Real Time Gross Settlement (RTGS)/National Electronic Funds Transfer (NEFT), Unified Payments Interface (UPI), Immediate Payment Service (IMPS) and other payment modes and thereafter allocate the same against invoices issued by Corporates along with real time updates to the Corporate’s Enterprise Resource Planning (ERP).

Pay2Corp platform directly integrates with the Merchant ERP. This enables a single sign on feel to the end Customers. These customers will be able to access the Pay2Corp account using their existing login ID/password through the ERP system/mobile app of the merchant itself.

If the merchants do not have separate login functionality for their customers, ICICI Bank offers a mobile app and web portal based solution, where the merchant can upload all the invoices pertaining to its various customers in the Corporate Finance portal (access can be given to any team authorised by the merchant) and the customers can select and pay against the selected invoices through multiple payment options available on the mobile app or webpage.

Salient features

Payment Modes: Multiple online payment modes with real time status confirmation are available under Pay2Corp – Payment Gateway (PG), RTGS/NEFT, NACH and UPI.

Availability: 24x7 availability for making payments with real-time confirmations, thus evading cycle times and enabling faster funds settlement.

Flexibility: White-labelled offering with that readily integrates with Merchant’s portal through Web and Application Program Interface (API) based protocols.

Transaction Security: Configurable Two-Factor Authentication (2FA) through dynamic One-Time Password (OTP) for transaction security.

Configurable business logic: Handles over-due invoices, credit notes and part payments along with tracking of the scheduled payments.

Plug and Play: Standardisation through consistent request/response formats with additional parameters for transaction processing and MIS generation across disparate collection and payment modes like Internet Banking, RTGS, NEFT and fund transfers.

Single sign on: Pay2Corp can be integrated with the client’s ERP portal where users can login using their existing credentials and make payments. The underlying integration is a web service based integration which makes the solution versatile across technology platforms.

Manual versus Straight Through Processing (STP): Pay2Corp is completely automated (100% STP) solution and does not warrant any manual punching by customers/merchant.

Status API: The status of the transactions can be rechecked through transaction status API call which can be triggered as and when required by client. This would help us update the status of the initial attempt before allowing the user to make another payment. Hence, duplicate transactions can be avoided.

Enriched MIS: Customer can download the MIS through front-end in excel or txt as required. Up to 10 additional details can be captured as part of payment API, for MIS purpose. Sub-division based MIS is also available.

Escrow procedural guidelines

Escrow terms and conditions

Payment Gateway terms and conditions