Debit Card Round Up - DNAappstore - Home · PDF fileDebit Card Round Up – The first...
Embed Size (px)
Transcript of Debit Card Round Up - DNAappstore - Home · PDF fileDebit Card Round Up – The first...
Debit Card Round Up Debit Card Round Up PS_DEBIT_CARD_ROUNDUP Application 14537 Debit Card Match PS_DEBIT_CARD_MATCH Application 14538
Page 2 of 29
2011-2014 Fiserv, Inc. or its affiliates. All rights reserved. This work is confidential and its use is strictly limited. Use is permitted only in accordance with the terms of the agreement under which it was furnished. Any other use, duplication, or dissemination without the prior written consent of Fiserv, Inc. or its affiliates is strictly prohibited. The information contained herein is subject to change without notice. Except as specified by the agreement under which the materials are furnished, Fiserv, Inc. and its affiliates do not accept any liabilities with respect to the information contained herein and is not responsible for any direct, indirect, special, consequential or exemplary damages resulting from the use of this information. No warranties, either express or implied, are granted or extended by this document. http://www.fiserv.com Fiserv is a registered trademark of Fiserv, Inc. Other brands and their products are trademarks or registered trademarks of their respective holders and should be noted as such.
Page 3 of 29
Overview: This application "rounds up" debit card purchases (to the next whole dollar) and deposits the funds into a related account. An additional feature of this process allows the Financial Institution to match a percentage of the rounded up portion of the transactions as an incentive to use the program.
Debit Card Round Up The first application identifies debit card withdrawal transactions. The purchase price of item purchased is rounded up to the nearest dollar amount. The difference between the purchase price and rounded up dollar amount is transferred from the individuals checking account to their savings account.
Debit Card Round Up Match The second application allows the institution to match a percentage of the rounded up portion as an incentive for the program. A process sums the savings account credit transactions posted within a predefined period of time, for example monthly or quarterly. This period is defined by the institution. A yearly ceiling can be set on the matched dollar amount.
Key Benefits: This application will help financial institutions to compete with others in their market offering a similar capability (to round up debit card transactions and deposit the rounded up amount into another account owned by the customer or member).
-Debit Card Round Up-
1. Setup Process
The Parameters referenced in the next section will control which accounts are selected for processing.
Using the Start Date and Through Date parameters to define the date range used to pick up the debit card withdrawal transactions.
The Delivery Method Code(s) parameter is used to define specific account cycles which will be used to determine which account are picked up during runtime. This parameter is
Page 4 of 29
not required. Leaving the value null will process all accounts where the Use New Processing YN product variable is set to Y.
The eStatement parameters shown below are optional. Each parameter is described in more detail under the Parameters section of this document.
o eStatement Qualification Meth
o eStatement User Field Values
o eStatement Cycle Codes
The Include Organizations parameter will be used to define whether Organization owned accounts will be considered for Debit Card Round up process or not.
The Log Participation Exception YN parameter is used to define whether Exception section of the report logs and shows the exceptions of a scenario where Use New Processing YN variable is set as Y at product level (i.e. Product is participating in Round-Up program) but the variable is overridden at account level and set as N. In that case, no round-up will be done but logging this scenario in exception section will depend on the parameter value. The default value of the parameter is Y i.e. it logs and shows all such scenarios in exception section
The Log Whole Amt Exception YN parameter is used to define whether transactions with whole dollar amount should be logged in exception section or not. The default value is Y i.e. it shows all such transactions in exception section.
Be sure to set the Use New Processing YN product level variable to Y for minor account types eligible for the Debit Round Up processing. Setting this to Y tells the application that this product will be included, and accounts in this product will be eligible for this application unless overridden at account level as N.
c. Transaction Types: Be sure the new transaction types, referenced in item two of this section, are assigned to the applicable products and all required GL mapping is complete.
2. Savings Account Selection There are three methods that this application uses to determine
which savings account will be used for posting the credit transaction:
a. Minor Code (MICD) parameter value. This parameter controls the savings product that is eligible to receive the credit transaction. This value will be used when the 8ISM (Use Interface tables to locate Savings Minor) is set to N. If the MICD parameter is blank and the 8ISM parameter is set to N, then the program will generate a queue error and terminate without processing any transactions.
b. Debit Card Round-Up External Interface Product Mapping. This method is used when 8ISM (Use Interface tables to locate Savings Minor) is set to Y. Use this method when the savings account product to use may differ depending on which checking account product the POS transaction was posted to. The External Interface Cross-
Page 5 of 29
Reference screen (shown below) will be used to maintain these assignments. The navigation to this screen is System Module -> System Tables -> C-G Tables -> External Interface Cross-Reference. The checking account minor will go in the From Value field and the savings account minor will go in the To Value field. Note that a single checking product may not be mapped to multiple savings products, but multiple checking products may be mapped to a particular savings product. A specific External Interface Code and External Interface Variable will be created for this purpose as 8DCR (Debit Card Roundup) and 8SMM (Checking/Savings Minor Mapping) respectively.
c. The third method allows for either of the first two methods to be overridden at the
account level. In order to use this feature an account-level user field must be setup and assigned to all checking products processed by this application. This user field value would then be set to the savings account that would be used to post the round-up credit transaction. For example the account-level user field 8IDP (Debit Card Roundup Acct #) for checking account #123 is set to a value of 456. For each point-of-sale transaction posted to account #123, the offsetting credit would be posted to savings account number #456. Prior to using the account entered in the user field, the application will insure that the accounts major equals SAV and has a status of ACT (Active). Note that this account may or not belong to the same tax owner associated with the checking account. The account-level user field 8IDP (Debit Card Roundup
Page 6 of 29
Acct #) will be setup when this application is initially installed. Once it is associated with the appropriate checking products, it may be used as needed.
3. Product/Account Eligibility
a. The application will first identify all point of sale transactions for those products which have active record for calculation variable Debit Card Round Up Processing (8DBC)/ Use new processing YN(METH). The value could be either Y or N.
i. If the Use New Processing YN (METH) product level variable is set to Y, the product and all accounts associated with the product are eligible for Round Up processing. If the variable is overridden at account level and set as N, the account will not be considered for round-up process. The transaction will be shown in exception section depending on value of parameter - Log Participation Exception YN (8LPE).
ii. If the Use New Processing YN (METH) product level variable is set to N, then it means that the product is declared as non-participating product but if the value of the calculation variable is overridden at account level, the account will be considered for processing. If the accounts has overridden value for this variable as N (similar to Product value), no exception will be logged but will be ignored for Round-up process.
b. It then checks for the transaction amount. If it is whole dollar amount. If not, proceed with further validation but if it is a whole dollar amount, show it in exception section depending on value of parameter - Log Whole Amt Exception YN (8LAE)
c. The next step checks the Minor Code (MICD) parameter value. This parameter controls the savings products that are eligible to receive the credit transaction. The job first checks the value of parameter '8AUF'.
i. If parameter '8AUF'supplied with user field code, check if the user field contains the proper value of savings account. If found the control goes go to point (e) else throws exception if not valid value found.
ii. if parameter '8AUF' is not supplied , check value of Parameter '8ISM':
1) If "Y" --> check if checking product is properly mapped to savings product
a) If it is, use that minor
b) Else throw exception
2) If "N", saving product defined in Parameter 'MICD' will be considered.
If the application does not