Cashfree Payments brings you the concept of a new wallet called the UNO Wallet. The first of its kind in the market. This wallet acts as a fund source for the merchants and is available for them in the Merchant Dashboard. The objective is to associate every wallet with one bank for routing purposes. It deviates from dynamic routing (cross-escrow routing) to single-bank routing. Transfers or recharges happen only from or to that bank account.
Benefits of UNO Wallet
- Trust and traceability of funds
With the introduction of the UNO Wallet, banks can identify the source of funds in the wallet. Every minute detail is accessible by the banks from the dashboard.
- Transfer data on-demand
The bank's association with the wallet enables accountability for every transaction detail from or to the wallet, and the data is available to reconcile inflows and outflows and balance the account.
- Easily identify the beneficiaries
Cashfree Payments provides complete transparency on who receives the transfers from the UNO wallet.
Banks, where Cashfree Payments holds an escrow account, can monitor the complete flow of money into their accounts through recharges and out of the accounts through transfers (UNO Wallet as a fund source) using the dashboard capabilities.
Use the credentials to access the dashboard and view the following sections in the dashboard:
Take a glance at the summary of the account. View the account details, available balance, and the number of merchants associated to the escrow accounts. A graphical representation of the transfer statues is available to you.
You can view all the merchants associated with the escrow account. You can view the merchant details, submitted KYC documents, and recharge history.
Every transfer detail is accounted for and tabulated for traceability and accountability of the funds that go in and out of the wallet.
You can also view the details of beneficiaries who received the money from the wallet fund source.
Updated about 2 months ago