July 6, 2020
The National Payment Corporation of Vietnam (NAPAS) launched a new ACH system based on CMA's IPS product. ACH system is based on ISO20022 standard and includes NRT (Near Real-Time) and DNS (Deferred Net Settlement) services with support of Direct Credit and Direct Debit instruments and additional modules such as
- Mandate Management,
- Central Addressing Scheme (CAS) in decentralized mode (requests for account resolutions are routed to from participant to participant),
- AML (Anti Money Laundry),
- Fraud Detection module,
- Dispute Management module,
- Electronic Bill Presentment module.
As part of project implementation, CMA and NAPAS teams have implemented ISO8583-based Integration Platform service that allows ACH system to be seamlessly integrated with internal NAPAS payment services (account to account, card to account, account to card and bill payments). The Integration Platform allows ACH Participants to use ISO8583 messages to communicate with ACH and to introduce new services to its clients services without significant efforts in customization of existing systems.