Copyright © 2012 CorPay Solution The Corporate Payment Channel EG-ACH Direct Credit.

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Presentation transcript:

Copyright © 2012 CorPay Solution The Corporate Payment Channel EG-ACH Direct Credit

Copyright © 2012 Egyptian Banks Company EG-ACH Introduction  The Egyptian Automatic Clearing House (EG-ACH) is a nationwide Electronic Funds Transfer (EFT) network.  EG-ACH processes batches of interbank Credit and Debit transactions.  EG-ACH facilitates a wide range of (B2B, B2C, C2C) payments such as salary distribution, supplier payment, governmental payments, pension distribution and many more. 2

Copyright © 2012 Egyptian Banks Company EG-ACH Workflow 3 Originating Bank Receiving Bank Payees: Individuals Payers: Corporations RTGS  Corporate  Individual Funds Movement

Copyright © 2012 Egyptian Banks Company ACH Benefits for Corporate  Cash management  Initiate all payments from one bank to all banks  Business-to-Business payments (Supplier payments, Merchant payments)  Improves cash flow management  Reduces processing cost (No paper work, less time)  Easy recurring payments  Reduce domestic transfers transaction cost  Secure and cost effective mechanism to eliminate cash transfer risk 4

Copyright © 2012 Egyptian Banks Company What is CorPay?  CorPay is a user friendly web based solution hosted at the bank in order to avail the following:  Transfer funds to all banks in Egypt  Track the payment online  Concrete workflow for corporate users  Eliminate manual operations 5

Copyright © 2012 Egyptian Banks Company CorPay Features 6 Comprehensive Reporting Engine

Copyright © 2012 Egyptian Banks Company CorPay Overview 7 Corporate Payment System Maker Checker Confirmer Payment File CorPay (Hosted at the Bank) Upload Payment File Check Payment File Confirm Payment File EG-ACH Direct Credit ISO file Response Different Banks Bank A Bank B Bank C

Copyright © 2012 Egyptian Banks Company System Users Roles 8 Upload file Add Single transaction Edit and correct batches/transaction Forward to upper level Maker Review batch Reject batch/transactions Approve batch Checker Review batch Reject batch/transactions Approve batch/send to bank Confirmer Corporate Users

Copyright © 2012 Egyptian Banks Company 9