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Solutions > Payment > Xalis

How Does It Work?

Consumers sign up by downloading the Xalis Wallet application into their mobile phones or Subscriber Identity Module (SIM) cards. The mobile phones must be NFC -enabled as it is the preferred security mode. However, consumers can use Xalis -certified NFC stickers on the back of non-NFC -enabled phones for limited services. By activating the wallet application, a consumer's mobile phone is automatically linked to a virtual bank account on the Xalis platform. Consumers load money into their Xalis accounts by linking them to their existing credit/debit cards, by buying prepaid Xalis cards, or by visiting Xalis authorized cash-in/cash-out agency points. Consumers can then check balances, reload money, view transaction histories and transfer money between themselves either via remote or proximity (i.e. NFC) exchange. Consumers can also make instant purchases for goods or services at merchant locations equipped with Xalis-certified contactless terminals. Xalis is not a real bank as accounts are neither generating interest nor used in sophisticated investment transactions. There is also a maximum balance amount that a consumer can have in a Xalis account or transfer to another Xalis account holder. Consumers are guaranteed low remittance fees.

Merchants join the Xalis Network and start accepting cashless mobile payments from consumers equipped with Xalis-powered mobile phones. It is generally 5-15% faster than cash-based transactions while mitigating the security issues associated with managing cash within their stores. A typical authorization transaction takes about 2 seconds via ISO-8583 or XML-based auth request message transmission. Merchants receive then funds instantly if they have Xalis virtual bank accounts or within 24-48 hours if they use their existing acquiring banks. Merchants are guaranteed low interchange fees.

The reasoning behind lower interchange and remittance fees is that, unlike card networks and banks, large datacenters, the sizes of football fields, do not have to be built and maintained. Highly-available and scalable state-of-the-art cloud computing can be used for most of transaction processing making a Xalis deployment much more cost-effective. Moreover, security doesn't have to be sacrificed at it remains the service's backbone. Contactless Data's deployment requirements guarantee superior custom services adapted to the local context and regulations including the setup and training of licensed agency points for cash deposit and withdrawal.

As an open-platform, Xalis is not intended to reinvent the wheel. It can be integrated with current mobile banking platforms and is well-suited to be deployed by wireless carriers.

The following diagram illustrates the Xalis system.