Overview

The solution enables identification of remitter information for RTGS/NEFT/IMPS payments. Inward transactions to virtual accounts (domestic and foreign transactions) will assist in segregating cash flow at a different business unit or at a product line level. Credit to customer’s account will be only for validated transactions, which will follow with MIS inclusive of the remitter details.

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Features &
Benefits

Features & Benefits

  • imgCredit to single/multiple account
  • imgIdentification of remitter
  • imgReconciliation of voluminous transactions
  • imgValidation of transactions through offline data maintained with Axis Bank or online through Host-to-Host (API) integration with client web service
  • imgValidation of transaction at multiple level codes
  • imgParking account feature for validation failed/timeout cases
  • imgCustomised reverse feed via email/SFTP/API
  • imgMIS dispatch at customised frequency
  • imgSAP integration
  • imgDedicated IFSC based processing
  • MIS will be auto triggered to the corporate which will ease out the reconciliation process and improve transaction inflow efficiency.

How it works?

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Register with Axis Bank to avail of Power eColl – Virtual account based collection that works best for you
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For offline validation, master data will be maintained with Axis Bank
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Remitter will initiate transaction to virtual account & specified IFSC
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Under offline solution, transaction will be validated with the master data maintained with Axis Bank. Under online solution, transaction details will be sent to client via API for validation.
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Transactions validated successfully will be credited to client’s account. Failed transactions will be returned to Remitter
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Reverse feed will be dispatched to client via Email/SFTP/API
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Fee &
Charges

Fee & Charges

  • Minimal on-boarding charges
  • Transaction based charges
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Value Added
Service

Value Added Service

  • Multi-level validation

     

  • Exceptional credit for validation failed transactions & timeout cases

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  • Customized MIS
 

Related Products

 

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CMS application form and Power Ecoll form

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