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People’s Credit Funds Products & Services Digital banking services PCF Payment Hub

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Payment Hub

Benefits of implementing Payment Hub for PCFs

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Interconnected, Seamless, 24/7 Connectivity
Enabling PCFs to achieve interconnected, seamless, 24/7 connectivity with the banking network and service providers via Co-opBank
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Enhancing Connectivity, Building
the Foundation
Expanding the product and service portfolio while enhancing the competitive advantage of PCFs
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Reduce Processing Time and
Minimize Errors
Improve Operational Efficiency for PCF Transactions
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Automate Reconciliation Processes
Improve Accuracy and Optimize Resources Across PCFs and Co-opBank
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Lay the Foundation for Application Deployment
A Mobile Banking solution for PCF members and customers

Implementation Scope

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24/7 fast fund transfer from PCFs to other banks via Napas (P2B)
24/7 fast fund transfer from other banks to PCFs via Napas (B2P)
24/7 fast fund transfer from PCFs to Co-opBank (P2C)
24/7 fast fund transfer from Co-opBank to PCFs (C2P)
24/7 fast fund transfer from PCF to PCF (P2P)

Eligibility Criteria for PCFs to Join Payment Hub

The PCF must be a member of Co-opBank's CF-eBank electronic fund transfer system
Meeting the technical requirements of the Payment Hub system
Reporting and updating data on transactions processed through the Payment Hub system upon Co-opBank's request (if any)

Payment Hub Registration Process

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1
Application Assessment
Infrastructure and Technical Assessment
PCF Readiness Assessment
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2
Confirmation / Rejection
Under the authority of Co-opBank
Based on the dossier appraisal results
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3
Notify the PCF of the Result
Within 15 working days from the date of receipt of the application
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4
Complete the Registration Process
Contract signing
Pay the Applicable Fee
System Operational Procedures

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