Xenia Description
Xenia is a fully functional card processing system for financial institutions and processors for acquiring and routing payments as well as managing the card issuance process. Xenia supports the full range of card products — credit, debit and prepaid — as well as transactions across all channels from ATM and POS to e-commerce and mobile.
It is designed to be robust, scalable, with specific focus on ensuring faultless processing while optimizing operational costs.
| Complete card lifecycle management | The complete cycle of card management including production, activation, redemption and reporting is supported, including bulk issuance and breakage. Xenia can manage debit, credit, prepaid and gift cards, whether magnetic stripe, EMV or contactless. |
| Multi-channel, multi-currency, multi-institution | Whether card payments are executed through internet, ATM, POS or slips — Xenia can process them providing a single hub for all card payments. Currency conversions are supported including support for dynamic currency conversion. Xenia is also designed to operate in a multi-institution environment providing segmented services for each entity. |
| Data-driven workflow engine | All Xenia transaction processing is driven by a data-driven workflow engine with processing workflow completely determined by hundreds of configurable logical rules. By means of this engine banks and processors eliminate human mistakes causing penalty and rejection costs, reduce dependency on human expertise, handle automatically period expiry events regardless of the transaction volume.
A complete audit trail of every transaction processing actions is available to support any audit or arbitrage process. |
| Automatic MP Parameter Extract and Edit Package Updates | Periodic major and daily updates issued by MasterCard and Visa can be automatically imported in Xenia database and any processing rule changes, new members, settings, etc. automatically get into effect from the moment of the update. This completely eliminates all issues caused by discrepancies between system logic and MasterCard and Visa effective rules. And eliminates the need for frequent software updates. |
| Guaranteed Interchange Fees Optimization | Xenia guarantees best achievable monetary effect for the institution from the interchange fees that are paid/collected through the settlement process. |
| Accounting | Xenia incorporates a powerful and flexible accounting integration module used to set and customize all aspects of the integration between Xenia and any core-banking system accounting. All key aspects of the card transaction processing accounting can be configured allowing Xenia to easily fit in any accounting approach.
Unlike most other card processing systems Xenia has full automatic support for MasterCard and Visa transaction closing notifications allowing implementaion of robust and detailed accounting reporting. |
| Reporting | Rich back-office and management reporting. Generic automated reconciliation, funds settlement and billing reports that are easy to customize for client needs. Special reports available to support the chargeback management process reports. |
| Future developments | While providing support for the popular payment products Xenia also enables your freedom of choice in the future. We are constantly enhancing our solution to be in line with the changing landscape of the global trends in payments. And we are working to harness the power of the technologies of the future like blockchain payments. |