Case Study for CashFree Card Mandate Management System
When the RBI’s new set of guidelines in 2021 stated that customer approval is a must before any online transaction, payment gateways were in a mini turmoil. They were looking at options that would enable them to reach customers and at the same time provide RBI compliance. Cashfree was also facing similar challenges to set up a software that will provide mandate to their customers and also manage them.
Challenges Faced by Cashfree
They needed a Mandate Management System for the issuing banks. It was because they lacked a central service that consumes information from various touchpoints. The biggest challenge here was to share information across platforms and increase versatility for the end-users.
Entities That Were Involved
- Merchant with Integration to cyber sources.
- Issuing bank
- A Merchant/Acquirer Facing System
- Mandate Management System
- Issuing Bank Facing System (API/UI interface/Report Summary)
- End Customer Portal (UI Interface)
The Project Setup
The project was initially setup for approximately 45 days. Our developers had to run APIs for their application and integrate the card MMS in it. However, the backend part of developing an app was the primary challenge for the clients for which they came to us. Because of this, the project was pushed for a lengthier timeline.
Our team developed an algorithm for this application where the mandate is systematically calculated. This was mostly focused around the debit transactions of customers. We developed Pre-Debit Flow, Debit Flow, and Updated Mandate Flow features where detailed updates of each transaction are listed on a customer’s screen when some sort of action is implemented. It took us just 9 months to deduce a solution and deliver Cashfree with the Card Mandate Management System.