SkyPay Unified Payment Platform is a comprehensive banking solution developed by OpenArc which makes it possible to perform any payment to anyone, by anyone through one common system. This mobile and internet based total payment solution brings all banks and financial institutions onto a common platform to facilitate real-time interbank transactions.

SkyPay is an instance of branchless banking, which makes financial services accessible to the customers through their mobile phone or the internet. Also, an island-wide network of Agents is established to facilitate remote deposit and withdrawal of money. Therefore SkyPay is a true mobile banking application which will provide utmost convenience to the banking community; making their life easier. It will also make banking facilities more available and accessible to the rural, unbanked population; giving them access to financial services and improving their quality of life.

The delivery of this service to customers requires the participation of banks and mobile network operators (Telcos). Both these parties will benefit by being partners of SkyPay as they will be able to achieve superior customer service while earning a transaction-based income with no additional cost or hassle. Other companies such as utility companies and insurance companies can register with SkyPay to allow their customers to make payments to them via SkyPay. These companies can also use the SkyPay facility for all their bill payments and also to settle their monthly employee salaries.

Any individual with a mobile phone can be a customer of SkyPay by registering himself with the system. Registration can be done either through this web portal, or their bank, or the bank-appointed agents. Upon registration they are issued with a unique SkyPay number and a PIN. The customers can then enter their bank account and facility account details into the system. Then they may operate these listed accounts through their mobile phone or the internet without having to visit the bank at all. The mobile payment component is implemented using USSD technology. The customer can access this facility by dialing the short code #555# on their mobile phone.

What we offer :

• Balance inquiry of bank accounts and facility accounts
• Deposits and withdrawals remotely through agents
• Fund transfers between bank accounts in real-time
• Fund transfers to a remote recipients with no bank account (remittance)
• Utility bill payments
• Make installment payments of loans, lease facilities etc.
• Pre-paid mobile reloads
• Salary payments to employees by companies
• Serve as an internet payment gateway for online purchasing
• Make Inquiries on current exchange rates and interest rates
• View and manage transaction history

The term 'Bank' in this context refers to any bank or financial institution providing savings or current account facilities to customers. Being partners with SkyPay allows the bank's customers to do banking through internet and mobile phones. Thus, SkyPay will serve as a cost-efficient channel for effectively delivering financial services to customers with no additional cost and infrastructure. The bank will be able to acquire new customers and provide increased convenience to existing customers while earning a transaction-based income.

All the banks that are SkyPay partners are connected through a common banking switch (SkySwitch) in order to facilitate real-time interbank transactions. This allows a customer to electronically transfer money from one bank account to another account in some other bank through SkyPay. When a customer registers with the system, a tri-party agreement will be signed between the respective bank, the customer and SkyPay to allow for the disclosure of information.

A Bank will be able to enjoy the following benefits by being a SkyPay partner:

• Cost effective channel - a bank will be able to achieve island-wide virtual presence and extended reach to its customers through the SkyPay systems. Bank facilities are made available to the customers anytime, anywhere. This channel is much more cost effective to the bank than traditional brick and mortar branches or ATMs, as there is no additional cost of infrastructure or implementation.
• Transaction based income - for all the transactions that the bank's customers execute through the SkyPay system, the bank will receive a transaction-based commission.
• Acquire new customers - it is a fact that the number of mobile phone users in the country is much higher than the number of people with bank accounts. A bank will have the opportunity to tap this gap through SkyPay. It will encourage the unbanked population to form bank accounts and use banking services as these services will then be more accessible and readily available through SkyPay.
• Microfinance operations - SkyPay would be an ideal tool for a bank to implement microfinance operations. As SkyPay would increase a banks reach and presence, it will make financial services accessible even to the rural population. People in rural areas would no longer have to travel long distances to visit bank branches. They can do all payments through their mobile phone and deposit or withdraw money through the nearest agent.
• Alert sending - Alerts with regard to facility management (such as loan overdue notices etc.) can be automated and sent to the customer via SMS. Banks may also send the SMSs giving details about their promotions or new facilities.
• Means of internet banking - Banks which do not have Internet Banking service system may simply adopt this as their Internet banking solution. This is an important feature as many customers nowadays demand for this capability.
• Higher customer satisfaction - SkyPay will provide extreme convenience and efficiency for the bank's customers as they can do transactions from anywhere anytime with no hassle. Higher convenience will lead to more transactions and greater profitability to the bank.

We invite all banks to register with SkyPay to make this service available to their customers. Click here for the lists of currently registered banks.

'Telco' refers to the mobile network service providers who provide the mobile phone connections to customers. A telco needs to register with SkyPay in order to provide this mobile banking facility to its customers. By registering, the telco agrees to provide a USSD port for SkyPay through which the telco's customers may access the facility.

A telco will be able to enjoy the following benefits by being a SkyPay partner:

• Improved VAS - in this highly competitive market customers are increasingly demanding for more facilities and convenience. By registering with SkyPay, mobile banking facility is made available to the customers of the telco; which can be promoted as another Value Added Service. This will increase customer satisfaction and avoid customer churn.
• Transaction-based income - when a customer of the telco uses SkyPay to do a transaction, the telco will also receive a fee based on the transaction amount (amounts to be discussed). This serves as additional revenue for the telco.
• Reloading and bill payments - SkyPay can be extended to provide the customers with the ability of purchasing credit (in pre-paid packages) or bill settlements (in post-paid packages) through the system

We invite all telcos to register with SkyPay to make this service available to their customers. Click here for the lists of currently registered telcos.

An 'Agent' is a bank appointed dealer who represent the bank to the general public. Agents allow the bank customers to perform cash deposits and withdrawals remotely without having to visit a branch or ATM. Any individual, who is easily accessible to and have direct contact with the general public, such as a retailer or a small shop owner, may register as an agent.

An agent receives a commission for each transaction executed through them. A bank may also decide on their own scheme for rewarding their agents.

An individual will be able to enjoy the following benefits by registering as an agent:

• Transaction-based income - when a customer performs a deposit or withdrawal through the agent, the agent receives a certain commission. This commission rate will be higher if the customer's account is also in the same bank as the agent's. This gives the agent the incentive to represent as many banks as possible so as to increase his income.
• Attract more customers - small shop owners and retailers would benefit by being SkyPay agents as it will help attract more people to their shops. This would help increase sales for themselves.
• Rewards from banks - banks may form their own incentive scheme to reward their agents. It is important for a bank to encourage and support agents because they replace the need for bank branches and allow a bank to have more widespread reach at no cost.

The term 'company' is used to denote any public or private organization who wishes to make use of the SkyPay facility. A company can receive payments from customers for goods and services through SkyPay.

If you represent a company that requires customers to make regular payments to you (e.g. utility company or an insurance company), registering your company with SkyPay will allow them to do those payments through the internet or through mobile. This will give your customers utmost convenience and may minimize late payments.

A company will be able to enjoy the following benefits by registering with SkyPay:

• Extending services to mobile and internet - if the company does not already have a mobile or internet based payment arrangement, SkyPay can be adapted as the company's mobile/internet solution.
• Increased customer satisfaction - As customers increasingly demand for high convenience and ease of access, SkyPay will be an ideal way to provide these benefits to the customers. Once a company becomes partners of SkyPay, its customers will be able to make settlements from the comfort of their home. The customers will also be able to view the due payment amounts anytime they want. This increased convenience will lead to greater customer satisfaction.
• Electronic salary payments - a company can be given the facility to make salary payments electronically to employees' bank accounts through the SkyPay web portal and inform them via SMS. This service is to be implemented through the integration with sub module 'SkySalary'.
• Reduced administration costs - allowing payments to be settled through SkyPay would save a great deal of paper work and other administrative work for the company as everything will be automatically handled by SkyPay.

In today's dynamic society with our busy schedules, time has become the most valuable and scarce resource above everything else. We can't afford to waste time in long queues or travel for hours to get a simple thing done. We need information to be readily available, and easily accessible. In short, we need convenience and efficiency.

Imagine being able to settle all your bills and do all your money transactions anytime, anywhere, without having to visit the bank or the payee. SkyPay facility allows you to access banking facilities through this web portal or through your mobile phone so that you no longer have to make time to visit the bank, or be worried about bank working hours, or be stranded in long queues!

SkyPay is a unified system and can be accessed by simply anyone with no restrictions. However, this requires your telco and your bank to be partners of SkyPay. Click here to see the list of existing partners.

Here are the benefits that you will be able to enjoy as a SkyPay customer:

• Increased availability and accessibility - banking facilities are made more easily accessible to just anyone. You may access banking facilities 24/7 from where ever you are. Even rural population may easily make use of banking services without having to travel great distances to visit a bank branch.
• Increased convenience - all the features provided by SkyPay will lead to extreme convenience and ease of use to the customer. The system is very user friendly and it takes only minutes to perform any transaction. You will be able to do all your transactions from the comfort of your home, whenever you are is free, with no cost or hassle of traveling around.
• Access account information anytime - you can view your bank balances, bill status, and due payment details anytime you want.
• Accesses to information - you are given the facility of viewing general financial information such as exchange and interest rates through the system.
• View transaction history - you will be able to view a summary of all the transactions done within a certain time period through the web portal. This could be extremely helpful for accounting and fund planning purposes.

OpenArc Systems Management (Pvt) Ltd.
#120, Highlevel Rd, Colombo 06
Sri Lanka.

www.openarc.lk
admin@skypay.lk