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The eWallet can connect to all IBAN bank accounts and bankcard accounts (including certain prepaid debit cards, such as our cards) to provide for the users the capabilities of:

  1. Sending/receiving funds - like PayPal - through banking networks or through eWallet-to-eWallet-transfer
  2. Managing and moving funds at multiple bank accounts and bankcard accounts (including loading our prepaid debit cards)
  3. Sending funds, automatically, to multiple users at the same time - as in employers making payrolls and MLM making payouts.

Advantage Of Integrated Approach To Client Groups:

  • GIVE (One Debit is part of GIVE) has all the solution pieces and can provide an Integrated Approach to global payment and payout needs.
  • Without such an integrated approach, businesses will have to obtain individual solutions from different providers and somehow try to integrate these piecemeal solutions.

Example, in the case of a multinational MLM group, a commission payout event can be seamless. On payout date, the group can execute one command and load all the appropriate member accounts on the eWallet. The members then at their convenience move portions or all their funds in the eWallet to their bank accounts, U.S. prepaid debit cards and or international prepaid debit cards. Worldwide Connectivity Of Funds

 

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eWallet Solutions

One Debit has several eWallet systems that could meet different deployment needs, including

  1. To provide higher capacity of funds storage (higher than payroll cards) for some of the payroll and payout recipients.
  2. To provide an “International Bank Accounts” for users who may not be qualified to have one when applying by themselves
  3. To provide an “International Bank Accounts” for users to do payments (remittances) and trading internationally (local banks may have restricted or do not allow international funds transfers.)
  4. To serve as intermediate platform for low-value cross-border personal remittance
  5. To achieve “Self-Funding” capability for both the eWallet accounts and bank cards
  6. To be an intermediary platform for gaming and gambling applications
  7. To serve as an electronic platform that can integrate banking with funds transfer, bill payments, eCommerce and telecom.

Deployment Considerations

An eWallet operations should be kept as simple as possible and should be offered only to sophisticated professionals for the following reasons and considerations:

  1. Most prepaid cardholders do not need “International Funds Transfer” capabilities.
  2. eWallet funds transfer offers too much do-it-yourself-operation; whereas in the U.S., you have to go to the bank and fill out funds transfer request with a banker.
  3. Accurate and detailed information has to be known ahead of time (for example the exact Beneficiary bank’s Coordinates), and these information has to be understood. And, there is no banker infront of you to teach you on filling out the transfer requests.
  4. eWallet funds transfer requests also need the entry of a Security Code (Digital Signature), which requires good safe keeping and can be tedious.
  5. Mistakes can easily be made because IBAN could be 16-34 characters in length.
  6. International SWIFT transfer of funds can take 1 day to 9 days (depending on the number of correspondent banks in the chain). The eWallet user may call the service provider everyday and several times a day blaming the bank and the provider. I February 2016, we had 2,000 eWallet users came onboard, and we received hundreds of calls and ticket complains a day.
  7. To stop and resend a transfer can take up to 10 business days. The sophisticated users understand the delay, but not the typical cardholders.
  8. To deploy the eWallet, both the customers and the support personnel have to be trained and educated extensively.

What is an eWallet

An eWallet is an online banking system that could information access (through electronic interfaces) the depository accounts of a hosting financial institution (bank, currency exchange, etc.) and can perform funds transfers between the depository institution’s internal accounts.

An eWallet also has the access of an electronic funds transfer capability (either through the hosting financial institution or through a Payment Gateway external to the institution) that enables the depository account holders to send (payout) and receive funds (pay-in), externally, through the eWallet.

Operating Functions

Pay-In

A full-function eWallet can top-up the depository accounts in the following ways:

  • By batch transfer of funds from a Treasury (Funding) account through a “Mass Payout” process
  • By credit/debit cards
  • By wire transfer (SWIFT, PayPal, Western Union, MoneyGram, etc.) funds directly into his currency account with IBAN addressing.
  • By eWallet-to-eWallet-transfers from other eWallet account holders
  • By the User Group moving funds from the Treasury Account to the individual account.

Most of the commercially available eWallets allows only the Mass Payout method of pay-in to the eWallet accounts.

Payout

With a full-function eWallet, an eWallet account holder can withdraw funds in the following ways:

  • By wire transfer out funds
  • By topping up a credit/debit card
  • By loading a prepaid card through an electronic interface (API)
  • By eWallet-to-eWallet-transfers funds to other eWallet account holders

 

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The GIVE mWallet (Stylopay Wallet - An Option To Use For The Cardholders)

Stylopay

The Stylopay Wallet is a major Tap-&-Pay initiative for contactless transactions using the smart phone. This Initiative has its own Token Service for card issuance and transaction authorization, and, with multiple BIN Issuing bank partners, the Initiative has its own BIN ranges to support Dynamic Tokenization.

  1. The Stylopay Wallet is a downloadable Android app. Under passive marketing rules, the Global GPR program can proliferate at retail locations worldwide.
  2. With the GIVE Wallet, users can shop and transact from mobile phone by taping or waving at merchants’ contactless POS devices.
  3. With major banks around the world implementing card-less ATMs, soon the GPR Wallet can help users withdraw funds from many ATMs.
  4. The GIVE Wallet has a flexible API set, which can accommodate special functions, such as loading the card with different Digital Currencies and integration with e-shopping malls, etc.
  5. HCE Service For Optimal Security - At the bank host, the platform is a HCE (Host Card Emulation) Service, which can enables NFC devices to perform contactless transactions in card emulation mode. It employs Dynamic (One-Off) Tokenization, which is a method for protecting card data by substituting a card’s Primary Account Number (PAN) with a unique, randomly generated sequence of numbers. This “token” can be reversed to its true associated PAN value at any time with the right decryption keys. The unique device identifier that is created in a mobile transaction serves a similar purpose to the microchip on an EMV card, transmitting a dynamic cryptogram with every transaction.
  6. With HCE, the system bypasses the need for a hardware SE (Secure Element). With SE in the Cloud, application issuers can do provision without third party involvement and apps issuers aren’t dependent on the device’s SE owner for storing credentials and, instead, can do provision directly in the Cloud.
  7. Dynamic Tokenization - With Dynamic Tokenization, this card-wallet combination is much more secured than a physical card as it does not pass the Card Credentials to the merchants. Robust on-device dynamic management of data also protects the tokens throughout the HCE operating environment. The dynamic management of mobile issuance coupled with on-device management is what ensures the security of tokens on HCE-enabled mobile devices.
  8. Cryptogram In Cloud Based Payments – Cryptogram is created half in the cloud and the other half is created at time of tapping the phone on a contactless device. This strategy eliminates latency issues involved with network connectivity. This strategy also offsets the relay threat within app security and the sensor rich android OS.

Mobile_Wallet

Mobile_Commerce

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