Funding

The Funding module in Falcon is an important aspect for managing the inflow of funds into user accounts, ensuring seamless financial operations across various products like credit cards and more. It facilitates the addition of funds through multiple channels, maintaining compliance with regulatory standards and providing real-time tracking and reconciliation.

⚙️ Key Features

Multi-Channel Support: Accept funds via UPI, NEFT, IMPS, and other banking channels.
Real-Time Processing: Instantaneous fund availability upon successful transactions.
Compliance and Security: Adheres to RBI guidelines and PCI-DSS standards.
Automated Reconciliation: Ensures accurate tracking and matching of fund transfers.
Scalability: Handles high volumes of transactions efficiently.

💸 Adding Funds

This section outlines the methods and processes for adding funds to user accounts within the Falcon platform.

Process Flow

Below is the process flow:

Initiation: A user initiates a fund addition request through the application interface.
Verification: The system verifies the source and amount of funds.
Processing: Funds are processed through the chosen channel (UPI, NEFT, etc.).
Confirmation: Upon successful transfer, funds are credited to the user's account, and a confirmation notification is sent.

Supported Methods

Below are the supported payment methods:

UPI Transfers:
- Users can add funds using UPI by linking their bank accounts.
- Real-time fund transfer with instant reflection in the account balance.
NEFT/IMPS Transfers:
- Traditional bank transfers are supported with unique virtual account numbers (VAN) assigned to each user.
- Funds are credited upon successful transfer and verification.
Auto-Debit Mandates:
- Set up recurring funding through e-mandates for a seamless addition.
- Useful for subscription-based services or regular fund additions.

↑