Transactions

At Falcon, transactions are the cornerstone of our financial ecosystem. Our platform is engineered to handle a diverse range of transaction types with precision, scalability, and compliance, ensuring seamless financial operations for our clients.

🔁 Transaction Lifecycle

Every transaction on the Falcon FS platform follows a structured lifecycle:

1. Initiation: Triggered by user actions such as payments, fund transfers, or card usage.
2. Authorization: Validates transaction details against account balances, limits, and fraud detection systems.
3. Processing: Executes the transaction, updating account balances and generating necessary records.
4. Settlement: Finalizes the transaction, ensuring funds are appropriately transferred and recorded.

💳 Supported Transaction Types

Falcon supports a comprehensive array of transaction types to cater to various financial needs:

• Card Transactions: Including purchases, cash withdrawals, and refunds
• Fund Transfers: Between accounts, both within Falcon FS and external institutions
• Bill Payments: Utility bills, subscriptions, and recurring payments
• Loan Disbursements and Repayments: Managing fund flows related to lending products
• Prepaid Card Loads: Adding funds to prepaid instruments
• UPI Transactions: Real-time payments and collections via UPI
• Savings Account Transactions: Deposits, withdrawals, and transfers

📅 Business and Value Dates

Understanding the distinction between business and value dates is crucial:

• Business Date: The date on which the transaction is recorded in the system
• Value Date: The date on which the transaction’s financial impact takes place

This distinction allows accurate financial reporting and interest calculations.

⏱️ Cutoffs and End-of-Day Processing

Falcon uses configurable cutoff times to define business days. Transactions after the cutoff are processed the next day.

Our end-of-day (EOD) process ensures:

• All transactions are settled
• Accounts are reconciled
• Reports are generated

🔒 Transaction Controls and Validations

To safeguard against unauthorized activity, Falcon FS implements powerful controls:

• Spending Limits: Per card or account
• Velocity Checks: Monitor transaction frequency
• Geographical Restrictions: Block/allow based on region
• MCC Filters: Filter by merchant category codes

These controls are fully customizable by clients.

📑 Reporting and Reconciliation

Accurate reporting ensures financial clarity and compliance:

• Daily Transaction Summaries
• Reconciliation Reports
• Compliance Reports
• Custom Analytics & Insights

These are accessible via the issuer dashboard or API.