VisionPlus

VisionPlus is a Credit Card Processing Software owned by FDI who bought it from
Paysys. It is generally denoted as V+. Various banks and financial institutions use this
software application to store and process credit card, debit card, prepaid, closed end loan
account and process financial transactions against those accounts ex: AMEX, VISA,
MasterCard, Europay private label transactions.

It manages all aspects of Credit Card right from the time an application is made,
evaluated, account is created, transactions are authorized, raising disputes, sending
statements, customer service and online payment processing. It is a modularized system
consisting of several modules, called subsytems, with each of its subsystems performing
specific functions as mentioned above. eg -

ASM  Account Service Management - Customer Service Module

CDM  Credit Decision Management - Create New Accounts and evaluate credit card
applications
CMS  Credit Management System - Core V+ module. It is account receivable i.e. receiving
transactions, processing fees, posting transactions to account, generating statements.
FAS  Financial Authorization System - for online authorizations
CTA  Collections Tracking and Analysis - Collections of pending payments
TRAMS  Transaction Management system – processing and routing of transactions
SSC  Security Subsystem – Sign on Profile
LTS  Letter sub system to send various notifications, promotional letters to the customers. 
MBS  Merchant Banking System - Retail and Merchant acquiring
LMS  Loyalty Management System for frequent shopper points 
DPU  Payment Utility to schedule credit card payments

New features and subsystems are constantly being added.

Plan: A plan is a record to keep details for a particular type of transaction. It contains
following details for any transaction.
 What interest rate is applicable for that transaction and from which date it is applied.
 What will be the due date to pay for any transaction?
 What other charges will be applicable for that transaction in all the faces like if user
pays in time, if users doesn’t pay intime, if user pays the cheque but it is returned
from the bank, and various other such conditions.

Types of Plans:
Cash plan
Retail plan
Loan plan
Balance Transfers

Current Balance: Current Balance is the total amount at any point in time the card holder
needs to pay, it is increased with any debit transaction for the account holder like purchase
transaction and is reduced with the credit transactions made for the account holder like
payment transactions.
Open to Buy: Open to Buy is the amount available for the card holder to spend at any point
of time. As opposite to current balance it is reduced with any debit transaction for the
account holder like purchase transaction and is increased with the credit transactions made
for the account holder like payment transactions.

Principle Balance: principle balance is a component of the current balance, and it reflects
the actual amount the card holder has spent or used whereas, the current balance shows
the all interests and charges levied on to that account in addition to the principle balance.

Credit limit: as the name suggests, is the limit which user can have current balance up to.

Interest Accrual: When the card holder spends the bank’s money, the bank charges
interest on that amount. The interest is accrued until the amount is paid up. The following are
the different types of accruing interest
Daily Accrual
Monthly Accrual
Monthly adjusted ending balance.

Delinquency: When the card holder doesn’t pay the amount he is asked to, he becomes
delinquent. The more time he takes in paying the more delinquent he becomes. The
parameter on which delinquency is measured as follows.

Contractual delinquency - measures how many missed payments are on the loan.
Recency delinquency - is measured by the last time a (minimum) payment was made
on the loan
Days delinquency

Billing Cycle: Billing Cycle is the day of month decided for any account on which all monthly
processing required is done.

Cycle to Date: for any purpose if cycle to date term is used it implies the time from last
billing cycle to today’s date, Transactions made after the billing cycle to till date.

Block Code: A user defined code that identifies an account requiring special processing or
handling.

Grace Days: Number of days after the statement is produced during which finance charge is
not asserted if the customer pays the statement in full.

Payment Due Date/Days: Numbers of days or certain date before which if payment is made
no interest or other late charges will be calculated.

Statement: A printed document that furnishes the details of all the monetary transactions
made by the customer in interval between the two billing dates and the service charges that
were incurred by the customer.

CMS – Credit Management System is the accounts receivable system and functions as the
heart of the V+ system. It holds the Demographic, financial and historical information for
each account. Other modules needing that information obtain it from CMS, eliminating
records duplication. CMS also contains user defined parameters for interest, billing,
insurance, payment, and account processing.
ASM – Account Service Management is the online real time customer service module, ASM
enhance ability to provide superior customer service by utilizing user defined action codes to
perform customer – generated requests such as interest adjustments, address changes and
disputes.

1) What is card scheme and explain card scheme – 3

A) Card scheme is a central payment network system that uses credit and debit cards to
process payments.

A three-party (closed Scheme) scheme consists of three main parties , the issuer (having
the relationship with the cardholder) and the acquirer (having the relationship with
the Merchant) is the same entity. This means that there is no need for any charges
between the issuer and the acquirer.Ex: AMEX

In a four-party (open scheme) scheme , the issuer and acquirer are different entities,
and this type of scheme is open for other institutions to join and issue their own
cards. This is the type of card scheme used by brands such as Visa, Mastercard,
Verve Card, UnionPay and RuPay.

2) What is a BIN Number?

A) Bank identification Number, commonly used in credit cards and debit cards, stored-
value cards, gift cards and other similar cards.

3) Different Plan types ?

A) Credit, Retail, Loan and Balance Transfer.

4) What is PCT (Processing control Table) in CMS?

A) It defines a set of control tables. where each PCT will point to one Account control
table, Insurance Table, Service charge table and 12 Interest Tables. we can PCT at
System, org and logo level's simultaneously.

5) What is Dormant Account?

A) A dormant account is any financial account that isn’t used for a set of period. Bank,
investment, and retirement accounts are examples of accounts that could become
dormant