Set of transactions supported by Symbolic India Software Solutions APIs
Symbolic India Software Solutions's API allows you to:
1. Create a customer.
2. Enquire about customer profile.
3. Add entity, like recipient bank account, to a customer profile.
4. Process financial transactions on behalf of customers via IMPS/NEFT.
5. Collect repayment of loans.
6. Enable verification of bank account details.
7. Verify your customers/merchants via eKYC.
8. Process biometric-based cash-out transactions via AePS (Aadhaar enabled payment system).
9. Verify your customer's PAN card for KYC.
10. Verify account details.
IMPS/NEFT limit is:
1. Rs 5,000 per sender per transaction.
2. Rs 25,000 per sender per month.
In case of Indo-Nepal remittance, the limit is:
1. Rs 50k per sender per transaction.
2. Rs 6 lakh per sender per year.
3. 12 transactions per customer per year.
Limits for AePS transaction:
1. Upto Rs. 10,000 per transaction.
2. Number of transactions per Aadhaar per day: 5.
Describes the transaction flow for a money transfer transaction
Any financial transaction has the following flow:
1. CUSTOMER ENQUIRY :
For an existing customer, an inquiry can be made to check if a
customer with a mobile number exists or not on the platform.
If the customer does not exist then the customer needs to be
2. CUSTOMER CREATION :
A customer is created with a mobile number and name. The mobile
number needs to be verified via OTP or by doing a missed call to
a defined number.
3. FETCHING LIST OF RECIPIENTS :
For an existing customer, the list of recipients can be fetched
for a customer.
4. RECIPIENT ADDITION :
For transferring money to a bank account, a recipient (bank
account) needs to be added to a customer profile. The bank
account number can be verified by returning the name of the
beneficiary bank account. This functionality also needs to be
developed for an existing customer who wants to add a new bank
5. TRANSACTION :
A transaction can be initiated into a bank account via IMPS/NEFT
for a customer.
6. REFUND :
For a cash to digital transaction, if the transaction fails then
the customer can take refund via OTP.
7. TRANSACTION ENQUIRY :
For a transaction which is in pending state, an inquiry can be
made on the system to check the current status of the transaction
using Eko transaction id or client's unique reference id.