The Perfect Combination:
Close-Loop Wallet Powered with vIBANs
Control over funds and transactions, streamlining payments globally and locally.
Centralize financial operations, reducing complexities and improving efficiency in managing both customer payments and internal transactions.
Enhanced Financial Management: A close-loop wallet and vIBANs provide precise control over transactions inside and outside the ecosystem, allowing for effective management of customer funds and payments.
Streamlined Operations: This integration simplifies financial operations by providing a single platform for various transactions, reducing the need for multiple accounts and tools.
Improved Security: With transactions confined to a controlled environment, a closed-loop wallet minimizes the risk of unauthorized access and fraud. Using vIBANs for external transactions ensures compliance with international banking security standards.
Cost Efficiency: Businesses can significantly lower operational costs and banking fees by decreasing the number of physical bank accounts needed and leveraging vIBANs.
Global Scalability: vIBANs enable businesses to easily expand internationally, allowing them to manage payments worldwide without establishing a physical presence in each country.
Combine a Close-loop Wallet with vIBANs for enhanced financial control, security, and operational efficiency.
Different types of close-loop vIBAN Wallets
Merchant-Specific vIBAN Wallets
Tied to a specific merchant or business and use vIBANs to facilitate transactions exclusively within the merchant’s ecosystem.
Example: A large retailer could offer a wallet where customers receive a unique vIBAN to top up their wallet directly from their bank account, and these funds can only be used within the retailer’s stores or online platform.
Multi-Merchant Wallets
Designed to be used across a network of partner merchants. Each merchant within the network recognizes and accepts the wallet, but the vIBAN structure allows for easy fund allocation and management within the wallet.
Example: A shopping mall could implement a wallet system where customers top up their wallet via a vIBAN and then use it across various stores in the mall. Each store can see exactly where the funds come from and manage its accounting more efficiently.
Corporate or Employee Expense Wallets
Issued by companies to their employees for managing work-related expenses. Each wallet is linked to a vIBAN for seamless fund transfers and tracking.
Example: A company issues vIBAN-powered wallets to employees, who can use them for travel or other business expenses. The company can directly load funds into each employee’s wallet via a vIBAN, and all transactions are automatically recorded for easy expense reporting.
Subscription-Based Wallets
Tailored for subscription services, in which users regularly top up their wallets via a vIBAN, and funds are automatically deducted for recurring payments within the service ecosystem.
Example: A streaming service might offer a vIBAN-powered wallet through which users can pre-load funds. The wallet is then used to pay for monthly subscriptions automatically, ensuring uninterrupted service.
Gift or Prepaid Wallets
Designed as gift cards or prepaid accounts, where funds are loaded via a vIBAN and can be used within a specific network of stores or services.
Example: A parent could top up a child’s vIBAN-powered prepaid wallet, which the child can use at specific stores or online platforms within a particular network, such as a gaming ecosystem.
Event or Festival or Service-Specific vIBAN Wallets
Used for specific events or festivals, or services where attendees can load money into a wallet via a vIBAN and spend it exclusively within the event premises.
Example: A music festival might issue vIBAN-powered wallets for attendees, who can pre-load their wallets and use them to buy food, merchandise, and other items at the event.
Utility-Specific Wallets
These wallets are used for specific utilities, like mobile prepaid plans or electricity. Users load funds and use them exclusively for the intended utility service.
Example: Prepaid cards in some countries allow users to load money onto the card via vIBAN wallets and use it to pay for electricity, water, gas, etc. limiting its use to that utility only.
Transportation Cards vIBAN Wallets
Used exclusively for transit systems. Users load money onto the card and use it to pay for public transportation fares within a specific city or region.
Example: A city transportation provider issues vIBAN-powered wallets for attendees, who can pre-load their wallets and use them to buy top-ups for using the public transport system, including buses, trains, and the subway.
Education and Campus vIBAN Wallets
Used within educational institutions or campuses. Students and faculty can load funds and use the wallet for on-campus purchases, such as meals, supplies, or event tickets.
Example: University ID cards that double as payment systems issued by vIBAN wallets for campus dining, bookstores, and other facilities.
Choose the integration that is right for your business
Direct API Access
Ideal for businesses that manage their operations directly, this integration grants direct access to multi-currency IBAN accounts. It's perfectly suited for enterprises that handle multiple currencies and require seamless financial transactions across borders.
Embedded Banking API
Designed for businesses that wish to offer branded banking services alongside their existing products. This solution enables your clients to utilize multi-currency IBAN accounts effortlessly. It includes comprehensive services such as KYC/B procedures and client onboarding, all without the regulatory complexities typically associated with financial services. This option extends your abilities, allowing you to provide enhanced value to your clients while maintaining your brand identity.
Web-based Access
Clients can access our services directly through our secure web banking platform, ensuring convenience without compromising security. Our platform features strict multi-factor authentication (MFA) protocols and robust security measures, providing peace of mind for all our clients.
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A close-loop wallet is designed for transactions within a specific network or ecosystem. They typically do not allow direct transactions with external bank accounts or financial systems. However, when paired with vIBANs, this wallet can receive and send funds to external sources, including international transactions. This combination enhances their functionality while preserving the advantages of a closed environment.
E-commerce platforms benefit from efficiently managing payments and refunds within a controlled marketplace while handling international transactions.
Gaming and betting platforms use them to offer secure deposit and withdrawal options within a regulated framework, ensuring compliance and quick access to winnings.
Subscription-based services leverage a closed-loop wallet to facilitate recurring payments and manage promotional payouts and refunds.
Additionally, loyalty and rewards programs use them to enhance user engagement by allowing the accumulation and spending of points within a closed system, with the option to connect to broader financial systems for greater flexibility.The key benefits include enhanced financial management, streamlined operations, improved security, cost efficiency, and global scalability. This combination allows businesses to control transactions within a closed ecosystem while managing international payments through vIBANs.
A close-loop wallet enhances security by confining transactions to a controlled environment, which minimizes the risk of unauthorized access and fraud. When paired with vIBANs for external transactions, they also ensure compliance with international banking security standards, further safeguarding your funds.
Yes, a close-loop wallet combined with vIBANs is designed to support global scalability. It allows businesses to manage international payments and transactions without needing to establish a physical presence in each country, making it easier to expand into new markets.