11. Credit Card Payments

11.1 Introduction

Oracle FLEXCUBE provides a facility to process transactions using Credit Cards. When Credit Card details are received from SELECT, the system validates for Card Number, Status and defaults the Card Holder details.

This chapter contains the following sections:

11.2 Processing Payments by In-House Bank Cheques

Oracle FLEXCUBE provides a facility to handle Credit Card payments by cheques issued by the bank. You can maintain these details using ‘Credit Card Payment By In-House Cheque’ screen. You can invoke this screen by typing ‘CRCM’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can maintain the following details here:

External Reference Number

Unique reference number is defaulted based on the branch.

Product

Retail teller product is defaulted as CRCM.

Credit Card No

Specify a valid Credit Card number from the adjoining option list.

Credit Card Holder Name

Name of the Credit Card holder is defaulted here.

From Account Branch

Branch code of the recovery account is defaulted here. However; you can specify branch code from the adjoining option list, if needed.

From Account Number

Recovery account number is defaulted here. However; you can specify account number from the adjoining option list, if needed.Account Title

Title of the recovery account is defaulted here.

From Account Currency

Currency of the account is defaulted, when account number is selected.

Cheque Number

Specify a valid cheque number for payment.

Note

Oracle FLEXCUBE validates for the availability and status of the cheque and also for the stop payment on the cheque.

Check Date

Current system date is defaulted as the check date.

Cheque Issue Date

Specify the issue date on the cheque from the adjoining calendar.

Note

If the difference between the ‘Cheque Issue Date’ and the ‘Cheque Date’ is greater than the ‘Cheque Stale Days’ maintained at the ‘Branch Parameters Maintenance’ screen, an error message stating that the cheque is a stale one will be displayed. However, stale cheque validation would not be done if the field ‘Cheque Stale days’ is not maintained at the ‘Branch Parameters Maintenance’ screen.

Amount

Specify the payment amount for credit card transaction.

Note

Amount currency can be FCY

Narrative

Specify remarks for the credit card payments, if any.

Click ‘Save’ icon to go to the next stage.

Enrichment stage

On clicking save icon, the system validates and ensures for minimum mandatory data entry. If the data entry is correct, the system generates additional details maintained at different levels. The following screen will be displayed:

 

In addition to the details maintained in the previous stage, the system defaults the following details:

Recalculate

Click this button to recalculate charges for the cheque deposited.

After validating for the availability of the data, click ‘Save’ icon to go to the next stage.

Authorization Stage

On clicking save icon, the system validates and ensures for the correct entry of the data. If the data entry is correct, then the system moves the contract to for authorization. Authorization Authority can approve or reject a transaction at this stage.

For authorization process details, refer ‘Depositing an In-house Cheque’ section in ‘Instrument Transactions’ chapter of this User Manual.

After successful authorization, you can generate the transaction from task list and save. After saving the task, the system processes accounting entries, debiting the total transaction amount from the recovery account and crediting the same to respective select GL maintained for the Credit Card Product. It then generates an advice for the same.

Note

11.3 Processing Payments by Other Bank Cheques

Oracle FLEXCUBE provides a facility to handle Credit Card payments by cheques issued by other banks. You can maintain these details using ‘Credit Card Payment By Cheque’ screen. You can invoke this screen by typing ‘CRCN’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can maintain the following details here:

External Reference Number

Unique reference number is defaulted based on the branch.

Account Branch

Specify branch code of the Credit Card from the adjoining option list.

Narrative

Specify remarks for the credit card payments, if any.

Transaction Currency

Currency of the transaction is defaulted here; however, you can modify if needed.

Transaction Amount

Specify amount of the cheque drawn.

Account Number

Specify the account number of the Credit Card to credit the account.during credit card payment. Alternatively, you can select the account number from the option list. The list displays all the valid account numbers maintained in the system.

If you do not specify the account number, during credit card payment, the system credits the GL maintained as part of Card Maintenance GL.

Clearing Type

Specify clearing type you need for the cheque drawn from the adjoining option list.

Credit Card No

Specify a valid Credit Card number from the adjoining option list.

Credit Card Holder Name

Name of the Credit Card holder is defaulted here.

Cheque Number

Specify a valid cheque number for payment.

Note

Oracle FLEXCUBE validates for the availability and status of the cheque and also for the stop payment on the cheque.

Routing Number

Specify routing number you need for the cheque drawn from the adjoining option list

Drawer Account Number

Specify Account number on which the cheque is drawn.

Cheque Date

Cheque date is defaulted here.

Cheque Issue Date

Specify the issue date on the cheque from the adjoining calendar.

Note

If the difference between the ‘Cheque Issue Date’ and the ‘Cheque Date’ is greater than the ‘Cheque Stale Days’ maintained at the ‘Branch Parameters Maintenance’ screen, an error message stating that the cheque is a stale one will be displayed. However, stale cheque validation would not be done if the field ‘Cheque Stale days’ is not maintained at the ‘Branch Parameters Maintenance’ screen.

In the single stage flow, if there is an transaction level override or error during approval then the transaction will be moved to the pending queue. Without save action being initiated, the transaction will not be in pending queue.

On clicking Pickup button, the system populates the vales in all the callforms of the screen and clicking pickup button is mandatory if you make any changes to the Transaction amount and exchange rate after first pickup.

Once you click ‘Pickup’ button once, then on amendment of xrate, amount, charge, pickup will be mandatory before save. On pick up, the fields that are currently enabled in the enrich stage will alone be retained as enabled fields.

Enrichment stage

On clicking save icon, the system validates and ensures for minimum mandatory data entry. If the data entry is correct, the system generates additional details maintained at different levels. The following screen will be displayed:

In addition to the details maintained in the previous stage, the system defaults the following details:

Recalculate

Click this button to recalculate charges for the cheque deposited.

For further processing details, refer ‘Depositing a Cheque’ section in ‘Instrument Transactions’ chapter of this User Manual.

After validating for the availability of the data, click ‘Save’ icon to go to the next stage.

Authorization Stage

On clicking save icon, the system validates and ensures for the correct entry of the data. If the data entry is correct, then the system moves the contract to Authorization Authority for authorization. Authorization Authority can approve or reject a transaction at this stage.

For authorization process details, refer ‘Depositing a Cheque’ section in ‘Instrument Transactions’ chapter of this User Manual.

After successful authorization, you can generate the transaction from task list and save. After saving the task, the system triggers clearing transaction and stores RT transaction reference number in XREF column of the Clearing Transaction for reference.

11.4 Processing Payments by Cash

This section contains the following topics:

11.4.1 Invoke Credit Card Payment by Cash screen

Oracle FLEXCUBE provides a facility to handle Credit Card payments by cash. You can maintain these details using ‘Credit Card Payment By Cash’ screen. You can invoke this screen by typing ‘CRCP’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can maintain the following details here:

External Reference Number

Unique reference number is defaulted based on the branch.

Product

Retail teller product is defaulted as CRCA.

Credit Card No

Specify a valid Credit Card number from the adjoining option list.

Credit Card Holder Name

Name of the Credit Card holder is defaulted here.

Transaction Currency

Specify currency in which cash is deposited for the specified credit card number, from the adjoining option list.

Transaction Amount

Specify payment amount for credit card transaction.

Account Branch

Branch code of the current branch is defaulted here. However; you can specify branch code from the adjoining option list, if needed.

Narrative

Specify remarks for the credit card payments, if any.

In the single stage flow, if there is an transaction level override or error during approval then the transaction will be moved to the pending queue. Without save action being initiated, the transaction will not be in pending queue.

On clicking Pickup button, the system populates the vales in all the callforms of the screen and clicking pickup button is mandatory if you make any changes to the Transaction amount and exchange rate after first pickup.

Once you click ‘Pickup’ button once, then on amendment of xrate, amount, charge, pickup will be mandatory before save. On pick up, the fields that are currently enabled in the enrich stage will alone be retained as enabled fields.

Enrichment stage

On clicking save icon, the system validates and ensures for minimum mandatory data entry. If the data entry is correct, the system generates additional details maintained at different levels. The following screen will be displayed:

In addition to the details maintained in the previous stage, the system defaults the following details:

Recalculate

Click this button to recalculate charges for the cheque deposited.

11.4.2 Currency Denomination Tab

You can maintain the following denomination details here:

Currency Code

Currency code of the transaction currency is defaulted here.

Preferred Denomination

Specify preferred denomination for the Credit Card payment.

Total

Transaction amount is defaulted here from the main screen.

Denomination Details

You can maintain the following details here:

Denomination Code

Denomination code is defaulted based on the details maintained at ‘Denomination Maintenance’ level.

Denomination Value

Denomination value is defaulted based on the details maintained at ‘Denomination Maintenance’ level.

Units

Specify units you need for the specified denomination code.

Total Amount

Total amount is defaulted based on the denomination details maintained in this screen.

11.4.3 Charge Details Tab

Oracle FLEXCUBE defaults the charges maintained for the product and the customer group at ‘Arc Maintenance’ level. However; you can modify if needed and click on ‘Recalculate’ button to display the final total amount for the transaction.

For further processing details, refer ‘Depositing Cash’ section in ‘Cash Transactions’ chapter of this User Manual.

Click ‘Save’ icon to go to the next stage.

Authorization Stage

On clicking save icon, the system validates and ensures for the correct entry of the data. If the data entry is correct, then the system moves the contract to Authorization Authority for authorization. Authorization Authority can approve or reject a transaction at this stage.

For authorization process details, refer ‘Depositing Cash’ section in ‘Cash Transactions’ chapter of this User Manual.

After successful authorization, the system processes accounting entries to respective GLs maintained for Credit Card product.

11.5 Processing Payments by Account

Oracle FLEXCUBE provides a facility to handle Credit Card payments by Account. You can maintain these details using ‘Credit Card Payment By Account’ screen. You can invoke this screen by typing ‘CRAP’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can maintain the following details here:

External Reference Number

Unique reference number is defaulted based on the branch.

Product

Retail teller product is defaulted as CRAC.

Credit Card No

Specify a valid Credit Card number from the adjoining option list.

Credit Card Holder Name

Name of the Credit Card holder is defaulted here.

Value Date

Current date of the system is defaulted here.

Transaction Currency

Specify currency in which cash is deposited for the specified credit card number, from the adjoining option list.

Recovery Account

Recovery account is defaulted here from the Credit Card number. However; you can specify a valid recovery account from the adjoining option list, if not defaulted.

To view the joint holder’s details of an account and the mode of operation maintained at the account level, place the cursor on the Recovery Account number field and press Ctrl+J. The system displays the ‘Joint Holder’ screen.

For more information on the ‘Joint Holder’ screen refer to the section ‘Joint Holder Maintenance’ in the Core User Manual.

Account Title

Title of the recovery account is defaulted here.

Account Branch

Branch code of the current branch is defaulted here. However; you can specify branch code from the adjoining option list, if needed.

Note

If account branch and transaction branch are different, then the system automatically pro­cesses inter-branch entries.

Amount

Specify the payment amount for credit card transaction.

Note

If the payment is in FCY, then the system converts the amount based on the exchange rate code maintained at the ‘Product’ level

Narrative

Specify remarks for the credit card payments, if any.

In the single stage flow, if there is an transaction level override or error during approval then the transaction will be moved to the pending queue. Without save action being initiated, the transaction will not be in pending queue.

On clicking Pickup button, the system populates the vales in all the callforms of the screen and clicking pickup button is mandatory if you make any changes to the Transaction amount and exchange rate after first pickup.

Once you click ‘Pickup’ button once, then on amendment of xrate, amount, charge, pickup will be mandatory before save. On pick up, the fields that are currently enabled in the enrich stage will alone be retained as enabled fields.

 

Enrichment stage

On clicking save icon, the system validates and ensures for minimum mandatory data entry. If the data entry is correct, the system generates additional details maintained at different levels. The following screen will be displayed:

In addition to the details maintained in the previous stage, the system defaults the following details:

Exchange Rate

Exchange rate value is defaulted here to convert the transaction currency to account currency.

Recalculate

Click this button to recalculate charges for the cheque deposited.

11.5.1 Charge Details Tab

Oracle FLEXCUBE defaults the charges maintained for the product and the customer group at ‘Arc Maintenance’ level. However; you can modify if needed and click on ‘Recalculate’ button to dsplay the final total amount for the transaction.

For further processing details, refer ‘Requesting for Funds Transfer’ section in ‘Cash Transactions’ chapter of this User Manual.

Click ‘Save’ icon to go to the next stage.

Authorization Stage

On clicking save icon, the system validates and ensures for the correct entry of the data. If the data entry is correct, then the system moves the contract to Authorization Authority for authorization. Authorization Authority can approve or reject a transaction at this stage.

For authorization process details, refer ‘Requesting for Funds Transfer’ section in ‘Cash Transactions’ chapter of this User Manual.

After successful authorization, you can generate the transaction from task list and save. After saving the task, the system processes accounting entries, debiting the total transaction amount from the recovery account and crediting the same to respective select GL maintained for the Credit Card Product.

11.6 Processing Credit Card Payment Reversals

Oracle FLEXCUBE provides a facility to handle reversal of Credit Card payments by Cash, Cheques and Account transfer. You can maintain payment reversal details using ‘Credit Card Payment Reversal’ screen. You can invoke this screen by typing ‘STDCCREV’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can maintain the following parameters here:

Credit Card No

Specify number of the Credit Card for which you need to reverse payments.

Transaction Ref No

Transaction reference number is defaulted here, when you select Credit Card.

Click Default button. The system defaults the following values:

Remarks

Specify remarks for reversal of payment, if any.

After defaulting the Credit Card payment details, click on ‘Save’ icon. The system triggers the reversal accounting entries and reverses the transaction for the selected transaction reference number. If the payment is an outward cheque payment, you need to manually reject the cheque transaction and trigger the Credit Card payment reversals.

11.6.1 Viewing Credit Card Reversal Payments

You can view a summary of Credit Card reversal payments maintained at the ‘Credit Card Payment Reversal’ level using ‘Credit Card payment Reversal Summary’ screen. You can invoke the ‘Credit Card payment Reversal Summary’ screen by typing ‘STSCCREV’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can view records based on any or all of the following criteria:

Authorization Status

You can view records based on the authorization status of the Credit Card payment by selecting an option from the adjoining drop-down list. This list provides the following options:

Credit Card No

Select a valid Credit Card number to view records based on the Credit Card number, from the adjoining option list.

Transaction Ref No

Select a valid transaction reference number to view records based on the transaction reference number, from the adjoining option list.

Transaction Branch

Select a valid branch code if you need to view records based on the branch code, from the adjoining option list.

Click ‘Search’ button. The system identifies all records satisfying the specified criteria and displays the following details for each one of them: