Closed-Loop Wallet Management

Closed-Loop Wallet API enables businesses to implement merchant-specific digital wallet solutions that can only be used within the issuing merchant's website or mobile application. This prepaid payment instrument provides a controlled, branded payment experience that drives customer loyalty and repeat engagement.

Unlike semi-closed-loop wallets, closed-loop wallets are not regulated by RBI and operate within the merchant's ecosystem, making them ideal for businesses looking to create a seamless, integrated payment experience for their customers.

Closed loop wallet management involves the following APIs:

• Create Wallet/Card API: This API will be required by the merchants to register the customer for wallet.
• Retrieve Customer Record API: This API will be required by Merchants to fetch customer details and balance present in the customer wallet.
• Update Profile API: This API will be used to update the customer profile details.
• Load API: To load the money in the wallet post receiving success of the transaction.
• Unload API: To spend the money from the wallet.
• Check Status API: This will be required to check status of the load API used in the top-up journey.
• Statement Inquiry API: This API can be used to fetch wallet transaction data between specific range.
• Change Card Status API: This API used to change the card status of the card number of the customer.