Through OPC Payment Applications, Financial service providers not only maximise the reach for their financial services across SMEs and corporates; through OPC compliance tools service providers can also maintain a better oversight of how the Programme Managers are operating such services.
Integrating the OPC into the current infrastructure of a service provider
The OPC platform is cloud-based. It also provides various “connectors” that connect it to existing banking infrastructure as required, such as payment gateways, card issuing platforms, bank payments, etc. Simulators and test suites are provided as part of the developer kit.
From a market perspective, banks’ customers will have a richer supply of services that can cater more precisely to their needs.
The Value of OPC
Traditionally banks and service providers could not deal with the SMEs individually as there were too many overheads. However, with OPC they can approve an application or a payment use case that applies uniformly across a specific horizontal or vertical stream e.g. purchasing in travel or payroll across a variety of sectors. In addition, rather than vet each SME individually, they can use the technology to enforce and maintain all applicable regulatory constraints.