Payment Purpose Mapping

The customers of the bank initiate various outgoing payments from their accounts using channel banking facility. As per regulations set by Central Bank of various countries, outgoing payments must contain the purpose of payment which needs to be provided by the customer while initiating a transaction. Core banking application /ProductA product is created based on the bank's business requirements and has certain typical parameters that describe its attributes or characteristics. Every product is defined under Product Class and Product Group. For example, a product 'Fixed rate home loan' is defined under product group 'Home Loan' and product class 'Loans'. Processor maintain various purposes of payments.

System AdministratorAdministrator is a set of individuals that administer the applicant/Affiliate entity. For example, Accountants, Authorized Signatories for organizations, Power of Attorney for individuals. maps these purposes to each type of payment available through channel banking, which are then made available to the customers for selection while initiating each payment

Pre-Requisites

• Transaction access is provided to System Administrator.
• Payment purposes are maintained in core banking application.
• All payment types for which the purposes can be maintained are set as day 0.

Workflow

Features Supported In Application

This option allows the System Administrator to:

• Map Purposes
• View Payment Purposes
• Edit Payment Purposes

How to reach here:

System Administration Dashboard > Payments > Payment Purpose Mapping
OR
System/ Bank Administration Dashboard > Toggle Menu > Payments > Payment Purpose Mapping

Payment Purposes - View

System Administrator logs into the system and navigates to the Payment Purpose Mapping maintenance. This screen allows the administrator to search and view payment purposes mapped to payment transactions.

User selects the transaction type to view the mapping; the results are displayed on the same screen.

To search purposes for the payment type:

• From the Payment Type list, select the appropriate option.
• Click Search to search the purposes mapped to selected transaction type.
• Click Edit to make the changes if any. User is directed to the Payment Purpose Mapping – Edit screen with values in editable form.
• Click Cancel to cancel the transaction and navigate the user back to Payment Purpose Mapping - View screen.

Payment Purposes - Edit

Administrator can edit payment purposes mapped to specific transaction type. As a part of edit payment purpose mapping, user is allowed to remove the existing payment purposes and map new payment purposes to the transaction type.

To edit purposes for the payment type:

1. From the Payment Type list, select the appropriate option.
2. Click Search to search the purposes mapped to selected transaction type.
3. Click Edit to make the changes if any. User is directed to the Payment Purpose Mapping – Edit screen with values in editable form.
   OR
   Click Cancel to cancel the transaction and to go back to dashboard.
   

4. To update the purposes of payment, select the Purpose Description check box.
5. Click Save to save the Payment Purpose Mapping.
   OR
   Click Cancel to cancel the transaction.
6. The Review screen appears. The Verify the details, and click Confirm.
7. The success message of payment purpose mapping edit appears along with the transaction reference number.
8. Click OK to complete the transaction.

Payment Purposes Mapping- Map Purposes

Administrator can map payment purposes to new transaction types for which an existing mapping is not available.

To map the payment purposes:

1. In the Payment Purpose Mapping screen, click Map Purposes. The Map Purpose screen appears.

2. From the Payment Type select the appropriate option.
3. Select the Purpose Description check box.
4. Click Map to save the Payment Purpose Mapping.
   OR
   Click Cancel to cancel the transaction.
5. The Review screen appears. The Verify the details, and click Confirm .
   OR
   Click Cancel to cancel the transaction.
6. The success message of payment purpose mapping appears along with the transaction reference number.
7. Click Done to complete the transaction and navigate back to ‘Dashboard’.

FAQs

Who can create-edit this maintenance?

System administrator can create and edit this maintenance.

Can I maintain new payment purposes using this option?

No, the payment purposes are maintained in core banking application, only mapping of these purposes to the transaction type can be done using this maintenance.

Can customer specify his own purpose of payment while making a payment from channel?

Yes, if ‘Other’ option is mapped by an administrator to specific transaction type. Customer can select purpose of payment as ‘Other’, and can specify purpose while initiating a payment.

If new purposes are added in the core banking application, will they get mapped automatically to a transaction type for which the existing maintenance is available?

No, System Administrator will have to operationally map these newly added payment purposes to a specific transaction type.

Can I edit the payment purpose mapping? How does it impact the transactions

Yes, administrator can edit the transaction type – payment purpose mapping. The changes will be applicable with an immediate effect. Customers will see the updated list of payment purposes while initiating payment.

What happens if the payment purpose code mapped to a transaction type is deleted from the core banking application?

Payment purposes deleted from the core banking application needs to be manually unmapped from a specific transaction type by System Administrator.

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