Instant Payment Network Gateway - IPN

Instant Payment Network

Overview

Ever since the events of 2020, all sectors have realized the importance of wireless transactions and contactless services, and in support of that the Central Bank of Egypt (CBE) released a mandate requiring all banks to add support of Instant Payment Network (IPN). IPN allows individuals to transfer money instantly giving them access to multiple sources of fund through their mobile phone numbers. This network is designed for instant transactions between bank accounts, wallets, cards as well as Payment Service Providers (PSPs).

IPN Payment Gateway Solution Overview

IPN Core Functionality

Customer onboarding and Registration
Authentication for source of fund
PIN management for registered source of fund
Accounts management, balance enquiry and mini statement
Handling different account types: accounts, wallets and Meeza cards
Notification to the sender
Business reports

IPN Financial Functionality

Funds transfer
Handling reversals, blocking and unblocking

IPN Technical Capabilities

Integration adaptors for Core banking and Cards Management system
API gateway & 3rd parties’ interfaces
Security
Caching
Autoscaling
Self healing
IT Operations monitoring

IPN - Benefits

Implementation of IPN has become more and more inevitable, with the whole world going for a completely wireless future, the drivers pushing for IPN have embossed. Statistics show that 67% of the Egyptian population is unbanked all the while 93% of the population has a mobile subscription. On the other hand The cost of transferring money between individuals is high through banks. Options are limited and time-consuming. To wrap them all up, the Central Bank of Egypt (CBE) is promoting the collaboration between banks and rising FinTechs.

: Send Money to Digital Wallets and Meeza Cards

: Instant, Secure, Convenient & 24/7

: Enable Accounts, Wallets & Cards interoperability

: Use Mobile Number or IPA to send and receive money

: Super Consumer experience driven by big tech apps

: Seamless integration of financial services within popular applications

: Allow easy and fast product development through bank or partners

IPN - Technical Benefits

: End-To-End DevOps & CI/CD Pipelines

Code & Artifacts Repositories, CI pipelines, Automated Build ,Testing & Deployment

: Full Monitoring of All Solution Components

Using Prometheus & ELK Stack

: Fully Covered by Test Automations

Including Unit Testing , Integration Testing , End-2-end Testing & Test Data Management

: Monitoring & Reporting on Latency & Performance

On Provided, consumed & internal API calls

: Make use of Auto Scaling and Auto Healing

Capitalize on Microservices benefits

IPN - Features

: Customer onboarding and Registration

: Authentication for source of fund

: PIN management for registered source of fund

: Accounts management, balance enquiry and mini statement

: Handling different types of accounts: bank accounts, wallets and Meeza cards

: Push payments and collect payments

: Transaction management and handling reversals, blocking and unblocking

: Integration with Core banking and Cards Management system

: Business Reports

: Notification to the sender

Book a Free Consultation with our IPN Team

Book Now

IPN Ecosystem Components

With the Central Bank of Egypt issuing mandates regarding IPN and the need to take the market to a step further, we at Sumerge have perfected the formula for a 4-6 weeks ready to launch solution, covering your every business and technical need. IPN comes with a whole ecosystem that enables banks, consumers and PSPs all the while covering a secure library.

Instant Payment Network Ecosystem

Path to a Wireless Future

Instant Payment Network

Rules and Regulations
Connect Customers, Banks, and PSPs
Exchange Financial Messages
Mapping between IPA and Mobile Number
Enforcing 2-Factor Authentication

Payment Service Provider

Mobile Application Provider
Enhanced User Experience
Fintech Gateway

Secure Library

Encrypt Customer Data
Ensure Data Integrity

Banking Gateway

Responsible for Authentication
Access to Source of Funds
Transaction Processing
Impose Bank Rules and Consumer Profiling

IPN Payment Gateway Consultation

Book Your Free Session

Sumerge team has achieved new heights of technological advancements with IPN Payment Gateway and our team is here and ready to completely help out. Click the button below and get a free consultation and learn everything you need to know to get the gears in shift.

Let’s conquer new grounds!

Book Now

IPN Payment Gateway Consultation

Book Your Free Session

Sumerge team has achieved new heights of technological advancements with IPN Payment Gateway and our team is here and ready to completely help out. Click the button below and get a free consultation and learn everything you need to know to get the gears in shift.

Let’s conquer new grounds!

Book Now

AlexBank's IPN Payment Gateway Journey

Earlier, we at Sumerge partnered with AlexBank and implemented our state of the art IPN Payment Gateway solution. Where we built a Microservices architectural solution to deliver the IPN services to be the trigger for Alexbank digital transformation strategy. We’re excited to join hands with many more major market players and help kickstart IPN services and solutions within the Egyptian market!

Download Case Study