News!: Opus Technologies Launches FinGeniusAI Solutions – An Open Innovation Platform for Building Future-Ready Solutions.. Know More
News!: Opus Technologies Launches FinGeniusAI Solutions – An Open Innovation Platform for Building Future-Ready Solutions.. Know More

Digital Wallet

Modernizing Contactless Payments with Smart Digital Wallets

With deep experience and expertise in the digital wallet space, Opus enables businesses and merchants to facilitate intuitive customer journeys with secure contactless payments. Opus helps its clients position themselves as differentiated providers of e-payments with integration facilities across the payment ecosystem.

Key Challenges Faced by Businesses, Merchants, and Digital Wallet Providers

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Lack of payments technology expertise required to effectively integrate digital currency wallets in the existing payment systems

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High fraud rates and risk of theft of sensitive user data due to inadequate security measures

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Difficult to navigate regulatory compliance risking legal and financial penalties

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High friction during the customer journey, causing a poor experience

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Unautomated customer support and exception management making it difficult to manage high volumes of user queries

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Complex use cases involving closed-loop approach where customers’ funds are locked and can be used for payments to specific merchants only

Transforming Payments Experience with Future-Ready Digital Wallets

With the unifying global payments ecosystem, the future of payments is contactless, intermediary-free, and connected. Opus transforms the transaction experience facilitating hassle-free, secure, and seamless payments across physical and digital merchant interfaces. Incorporating a design thinking approach, Opus delivers simplified customer registration and login, user-friendly UI/UX, while enabling differentiated use cases, such as loyalty program features, contactless payments, BNPL, and instant loans. Disruptive technical proficiency in digital wallet app development at Opus enables businesses and merchants to offer compliant, and easy-to-integrate payment systems.

Our Digital Wallet Services Include

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Facilitating business scalability and configurability with modern digital wallet solutions

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Enabling seamless integration of existing infrastructure with third-party e-wallet

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Enriching user experience with customer-centric design, process flow standardization, and workflow automation

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Solutioning with design thinking approach across regulatory and compliance requirements, such as KYC, KYB, AML, and GDPR

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Building differentiated use cases to enable broader FinTech collaboration through a digital-first approach leveraging rich API library

Opus Facilitates Adoption with Compliant and Secure Payments

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Fosters a unified payments experience through digital wallets that support traditional and alternate payments methods

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Improves digital wallet adoption at a broader level using API-based integrations with financial institutions and retailers

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Facilitates scalability, and high configurability while significantly reducing time to market

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Escalates monetization with collaboration across the FinTech ecosystem through the API management platform

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Simplifies customer journeys through frictionless touchpoints

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Supports differentiated use cases such as bill payments, subscription renewals, cross-border transfers, consumer lending (BNPL), loyalty and rewards, account opening, tracking, and reporting

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Delivers secure future-ready e-payment solutions with advanced data security and privacy mechanisms

Recommended Resources To Explore

Frequently asked questions

A digital wallet, also known as an e-wallet or mobile wallet, is an application platform that allows users to securely store and manage information related to their credit cards, bank accounts, and digital currency.  It enables secure electronic payments in real-time without the need for physical card or cash. 

A digital wallet uses techniques such as near-field communication (NFC), magnetic secure transmission (MST), or QR codes to ensure secure transfers. It uses software links to encrypt the payment details of the end user to facilitate contactless payments.

Digital wallets can be closed, semi-closed, or open. A closed wallet allows payments only to a particular merchant. All refunds and rewards are credited to the wallet and cannot be used outside of the business. An open wallet on the other hand allows a user to make payments to any business or individual user. A semi-closed or semi-open wallet facilitates payments to a select few merchants who enter into a contract with the digital wallet provider.