For clients who wish to extend the scope of the loyalty experience to include payment, OnePurse™ is available as a module fully integrated with the OneLoyalty™ solution.
For cash reward implementations, this can provide a powerful customer experience where the customer is fully in control of the redemption process – on demand and instant. The solution is available for use where the redemption facility is fully under the control of the loyalty scheme operator or in a more open environment where partner redemption agents are involved. Either way, extending this payment option provides for a greater level of engagement with the customer.
OnePurse™ is a stored value application providing for full online transacting where the stored value token uses on an online secure transaction to access the funds deposited, or a secure offline token transacting in a ‘closed loop’ environment.
Each stored value token can be associated with a physical loyalty card (with a card number), and other types of identifiers such as a mobile phone number, entered by users at the point of transaction and on loyalty scheme web site. The token that can be used to initiate a transaction can be configured to be any or all the identifying tokens, include card number, mobile phone number etc.
The application makes available full card and key management functions and is inclusive of full merchant acquiring management, clearing and settlement processes and reporting.
The financial transactions supported by OnePurse™ include:
- Load/Reload (top-up), online and at the point-of-sale
- Payment online and at the point-of-sale
- Transfer of funds between cards
- Transfers of funds host to card / card to host
- Transaction cancellation
The e-purse will be operated under a policy observing a set of business rules that can be configured and changed by the card issuer. The parameters of the business rules include:
- Card validity period
- Card fee
- Card deposit restrictions
- Administration fees
- Maximum card balance
- Balance transfers
OnePurse™ supports transactions with the stored value token, over the internet, at the point of sale and through the mobile app.
Stored Value Solution
OnePurse™ is an ideal stored value solution where an organisation is looking to extend the experience to payment. This provides a platform to extend the capabilities of the existing ‘loyalty token’ to become a means of payment. Using OnePurse™, the loyalty token can use a virtual money store to give the customer access to the funds for redemption instantly and on-demand.
Gift /Prepaid Cards
OnePurse™ can deliver all the requirements required of a solution for ‘Gift cards’, allowing for both online and offline transactions in a ‘closed loop’ environment, particularly significant for retailers and event/entertainment outlets.
The availability of merchant acquiring management, clearing and settlement opens many options for the acceptance of the card beyond the physical locations of the loyalty scheme operator.