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I&M Payment API Gateway
(Host to Host API Integration)
B2B API Integration
I&M Bank’s vision is to play a central role in providing innovative payments solutions to all her chosen customer segments hence the robust Open Bank Solution called I&M Payment Gateway. I&M Payment Gateway (Host 2 Host) module facilitates straight through processing (STP) of payments directly from our Customer’s ERP system.
The H2H API integration is done through a secure VPN link or point to point integration. Through this channel, our Customer’s authorized team are able to originate payment files from their ERP system and are remitted to I&M bank for processing without manual intervention. In addition, a return file is sent back to the ERP in acceptable file format that can be consumed by our Customer’s ERP system for auto reconciliation.
I&M Payment Gateway securely executes payment instructions from various channels. It receives payment instructions and transforms as per the payment service provider and sends it for processing. It also handles authentication, authorization, payment processing and auto-reversals.
Benefits:
- Internal funds transfer to I&M Beneficiaries
- Own Account Transfer – your Accounts within I&M
- Electronic Funds Transfers (EFTs) – across all Banks
- Real Time Gross Settlement (RTGSs)
- International Transfers
- Pesalink transfers
- Mobile Wallet Payments - M-Pesa & Airtel Money
- Utility Payments
- APIs as a channel of doing Business e.g. connecting additional services in a Plug-and-Play manner
1. Straight through process where once duly authorized transactions on your ERP have been submitted to the system the transactions are executed automatically.
2. Multiple payment types;
2. Real time tracking of payment status, file upload, rejection/repair.
3. Two factor authentication to enhance security. Security token and User credentials
4. Accurate processing; Beneficiary accounts are credited electronically. This eliminates errors associated with manual intervention.
5. Reduced Workload: Owing to STP processing functionality you can upload all the payments as a single batch.
6. Secure seamless transmission:the system being a Straight-through-transaction process, there is no human intervention which therefore ensures data integrity.
7. Enhance service offerings with Open Banking APIs:
Some of the I&M Business Connect Products and Services include:
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