The bill consists at least of the name of the merchant, identificationnumber of the bill, what is paid for, due amount, currency of the payment and the account where to pay.
The payment approval procedure adds to the bill the payer's account tobe debited, timestamp, identification of the payment device, thatapproves the payment and signature.
Clearing and Settlement of Payments
Way4Pay provides 3 basic options for clearing of a payment according to the way of implementation at the bank operating the system:
- against a current account kept in the Solution4Clear component installed at the bank
- against a shadow account kept in the Solution4Clear component installed at the bank
- directly against a banking account kept in the bank core system