Defining payment processing elements

The image below illustrates a hypothetical payment processing configuration, showcasing the maximum number of elements available within the Tuum system.

To determine the elements needed for your payment processing, answer the three questions below. They pertain to the service providers you will use and will help you decide how to split payment processing between Tuum and your other application.

Who is your settlement service provider?

Depending on your chosen settlement service provider, you have two options for connecting with Tuum payment processing:

1. Via native connector APIs.

2. Via payment router.

Native connector APIs

You should use the native connector API provided by Tuum if you use any of the following settlement service providers:

• LHV Bank;

• Banking Circle;

• Currencycloud; or

• Centrolink.

Payment router

If your settlement service provider is not listed above, configure the Tuum payment router to integrate with that external provider (or multiple providers) for payment settlement.

Where do you keep track of nostro transactions and balances?

You have two options for tracking nostro transactions and balances:

1. Within Tuum.

2. Outside of Tuum.

Within Tuum

Tuum allows you to manage nostro transactions and balances conveniently through its BackOffice interface. We recommend this option if your settlement service provider is LHV Bank, Banking Circle, Currencycloud, or Centrolink, as Tuum can effectively record these transactions.

When selecting this option with some other settlement service providers via the payment router, you might need to undertake additional development efforts to achieve a similar level of workflow fluency.

Outside of Tuum

Tracking nostro transactions and balances outside of Tuum might be preferable if you already have established workflows in place.

How do you perform AML screening?

You have two options for integrating AML into the payment processing workflow:

1. Embed AML screening directly into the Tuum payment processing workflow.

2. Conduct AML screening remotely outside of the Tuum payment processing workflow.

Embedded AML screening

Embedding AML screening in the Tuum payment workflow gives you a clear view of the payment process. With this setup, AML screening runs automatically, and once it is passed, the payment processing continues seamlessly.

It is advisable to use embedded AML screening when settling payments with the following service providers:

• LHV Bank;

• Banking Circle;

• Currencycloud; or

• Centrolink.

This option is also recommended if you are working with an AML screening service provider integrated with the Tuum system, such as Hawk.ai or Comply Advantage.

Remote AML screening

If you have established workflows in place, you may prefer to perform AML screening of payments remotely, outside the Tuum system.

Conclusion

Once you have decided on the elements to include in the Tuum payment processing flow, you can proceed with configuring those specific elements.