Built Digital Payment Solution For A Leading Bank In Trinidad & Tobago To Embrace The Cashless Economy

Expertise: E-Wallet App Instant Messaging App
Verticals: Banking & Financial Services
Technologies: ASP.NET Java/J2ee Swift iOS Android Kotlen
Home > Portfolio > Built Digital Payment Solution For A Leading Bank In Trinidad & Tobago To Embrace The Cashless Economy
Client Overview
A leading bank in Trinidad & Tobago wanted people to go cashless and needed a digital payment ecosystem (mobile wallet) that would let anyone send, spend, receive, and manage their money with just their phones. The bank group is 184+ years old holding assets of US$16.3 million and declared a net profit after tax and non-controlling interest of US$195.8 million. The Group currently employs more than 6,058 staff in 23 subsidiaries operating in 14 countries. As a technology partner, we designed and developed a mobile wallet product that is hosted on MS Azure and offers the users social connectivity and nearby search features along with payment transactions.
Business Needs
Client was looking for custom digital wallet development services aiming to provide cashless payment solutions for both business and their customers. Client wanted wallet for both iOS and Android wallet apps for organizations to help them grow with an easy transaction process.

Client who is one of the reputed player in Fintech industry wanted core mobile wallet capabilities that would enable the users to securely and reliably send and receive electronic payments with appropriate participants in the mobile money ecosystem, constrained within national boundaries. Other than functional requirement client was very keen on supporting non-functional requirements, such as performance, availability, confidentiality, security, and usability characteristics necessary for the mobile wallet to meet the demands of its intended user profiles or roles (e.g., consumer, agent, merchant).

Client was looking for below main functional requirements:

  • User registers and self-activates a mobile wallet
  • Add amount to your wallet from bank account
  • Get cash out Transfer value from mobile wallet to bank account
  • Send wallet money to another consumer wallet
  • Utilize the mobile wallet stored to pay business end cash wallet account
  • Register one or more formal bank account(s) with the mobile wallet to enable funds transfer with financial institution
  • List in process activities requiring action by the user to complete the specific business processes
  • Get mini-statement Display balance and recent transaction
  • Manage account Update information related to the consumer mobile wallet account

Client was looking for below main non- functional requirements:

  • People will only use digital wallet if the money held in a digital account is secure, and not subject to theft or unauthorized withdrawals. User will need complete guarantee that money will go only to the designated recipient, with a complete track of the transaction to enable user to prove that payment has been made or received.
  • Robust. A digital payment system needs to be available for use as needed, like cash. Users should not have to be concerned about the system being down. As the number of users paying through this digital wallet grows, availability should always remain high and infrastructure wise and software wise it should be able to handle peak volumes.
  • Cost to use the system must be very low, both from the standpoint of holding money as well as transacting.
  • Convenient. The system needs to be easy to sign up for and use to support low literate consumers.
  • Open. The system needs to be able to reach many (ideally all) counter parties for both making and receiving payments taking various financial and mobile service providers in the country.

Client wanted below design principles to be embedded in the wallet application:

  • Irrevocability: The system should not specially manage transaction reversal by the originating party nor specify situations in which the liability for a transaction is passed from one participant to another. This does not mean that there should be no consumer protections: for example, the consumer should be able to make an inquiry into the status of a transaction, or lodge a complaint with their provider about an unauthorized transaction
  • Tiered KYC: The system should be able to tiered "know your customer" (KYC) that allows for usage of digital wallet by end users to level of use. Users lacking proper identification and financial documents can only open basic accounts, and the risk related to these accounts may be handled by putting strict maximum account balance and transfer limits. This will not only help increase volume through usage by the low income group, at the same time keeping proper levels of fraud control.
  • Payment standards: The system should adhere to internationally accepted payments standards (such as ISO 20022) rather than implementing system-specific, proprietary standards. Methods of development of different modules of the system by participants or other parties should also be enabled through open application program interfaces (APIs).
  • Immediate funds transfer: Funds should be available to the payee in near-real time, providing immediate notification of payment from the payer to the payee- logically necessary to replace cash, which is another form of immediate payment.
  • Open loop: Open-loop system will be able to have interoperability through the direct participation of all providers- Mobile, banking and Non-Banking financial service providers.
  • Push payments: The system should effect push rather than pull payments.
  • There should be no barriers to an individual's discontinuing use of the system

Strategy & Solution
To successfully redefine the digital payment paradigm, the client wanted to establish a strategic partnership with a trusted partner. That way, the client wanted to streamline how it was overcoming the challenges. To put the project from conception to completion, the client teamed up with our mobile app development team. Along with the client's business team, we brainstormed on the app's features that will cater to its audiences comprising customers and businesses. Below, we have mentioned the key highlights of the project's front-end and backend.


To build a secure and intuitive digital wallet, the client used our front-end expertise. We deployed front-end developers to help develop an intuitive interface of the app. Our front-end experts worked with the client to fine-tune the user experience to the extent that the learning curve became moderate. Some of the key highlights of the user-friendly front-end that we developed for the client are as follows.

  • Developing an easy-to-use user interface for merchants and customers
  • Creating a chat window where customers and businesses can communicate
  • Building an interface where sending and receiving payments is fast and secure
  • Enabling customers to find businesses based on categories
  • Helping customers to book a tab in a hotel or restaurant at a high speed
  • Empowering businesses to deliver unified brand experiences with a few taps


We helped the client build digital payment innovation that would weed out any friction points while strengthening security, improving convenience, and accelerating speed. Our backend developers used Microsoft.NET as the framework to build a robust foundation for the digital payment ecosystem. Here are a few highlights of the backend that we deployed for the client.

Development Process

We took this work as unique and custom, keeping the process very personalized for the product. We followed the below process:

  • Understanding and Analysing requirements: We commenced the development process of mobile wallet by conducting a detailed research about the market. We analyzed the existing wallet apps globally and to understand the current trends and requirements of the users in the market. The research also helped us with the risk management process to understand challenges while proceeding with the development process. We also discussed on the right audience for wallet app and had discussion with the team of end users to get feedback on the requirements and needs from a mobile wallet app. We also reviewed the rules and regulations of the payments and banking industry in the T&T. Every country has its compliance and we it in detail.
  • Freezing scope and development challenges: Developing a wallet app requires skill and experience. We had developers from fintech experience with a strong background on the payment gateways and financial transactions.
  • Wire Framing, study of App Data and User Experience Design: Designing was one of the critical juncture of the development of a wallet app. We focused on creating an attractive and engaging user experience with the principle in mind that great design will help attracting the targeted audience as User Experience plays a significant role in the efficiency of a wallet app because it involves money and security. We started with creating the wireframes of the app, visualizing app data flow, screens and data fields. We used tools like Balsamiq or Sketch to create wireframes. Professional designer from Flexsin worked on entire design of the app as UIUX (User Interface User Experience) is the key factor in retaining the user base.
  • Code engineering: In this phase we worked with the concept of Minimum Viable Product. Here we added all the features to Minimum viable product (MVP), test it, and implement additional functionality of the product with improvements. Developers integrated all the third-parties and databases, and bring the digital wallet to life.
  • Working on Third Party API: Third-party integration helped to create an e-wallet app with a lower investment of time and money. Therefore, developers widely use various frameworks, APIs (application programming interfaces), cloud solutions, and SDKs (software development kits). The ready-made tools and third-party codes simplified the project's work and allowed to get a high-quality application in a much lesser time.
  • Manual, Automated and User testing: We applied testing services: covering the entire life cycle or joining at any stage. Our QA engineers used a wide range of test design techniques, from manual testing to automated tools and writing scripts:
    • Functional testing that evaluates the compliance of a component or system with functional requirements;
    • Interoperability testing to determine the compatibility of wallet;
    • Loophole testing to ensure that there are no loopholes, deficiencies, or security flaws that could be exploited;
    • Penetration testing to protect the app against outside attacks and find any weak points; and
    • Non-functional, change-related, structural, and other types of testing.
  • Integration of Application monitoring and Analytics
  • Publishing Application on the stores: When wallet was successfully developed and tested, it was the time for delivery and launch. We place the mobile wallet in the app stores.
  • Users Data Analysis for Improvisation: Once app was placed in app stores, we and collect early user reviews for product analysis.
  • Maintenance and Support: After release, we provided client with professional maintenance to ensure the best possible interaction between wallet and user. Technical support covered various services, such as general system updates, program code correction, or security management. Android and iOS get updated regularly, wallet should answer this challenge, so we have to release new system versions on time. We made sure that wallet worked correctly across devices and platforms, support the latest OS versions, and continually improve the user experience.

Business Outcomes
As the engagement drew to a close, the client had the app ready to take T&T's consumer world and commercial landscape by storm. Once the app got released for businesses and consumers, the community became all set to introduce a new level of digital in the way it buys and sells commodities and services. Here is the list of benefits that the client reaped once the project was successfully deployed.

  • Making cashless transactions a possibility by banking upon payments made via QR codes. QR code-enabled digital payment systems, combined with strong growth in mobile phone penetration in T&T, enabled government strategic initiative, accelerating the replacement of cash with digital liquidity, including receiving and sending payments electronically.
  • This project played a key role in expanding T&T government mission to give access to financial services by enhancing the reach of digital payment services in poor and rural areas
  • This digital wallet solution helped major financial institutions in country for strategic planning and execution of financial solutions for poor people, while stimulating the adoption of efficient and low-cost digital payment solutions.
  • Allowing the user to self-issue a mobile wallet and account reduces the barriers to financial inclusion without compliance becoming a major challenge. Credit risk is reduced for all financial institutions, as all accounts are prefunded.
Client's Speak
The team at Flexsin has the right set of digital capabilities to build a digital wallet that has streamlined how cashless transactions happened in T&T. I am so happy with the final digital product and would recommend this team of experts to anyone who is looking for professionalism with deep digital expertise.
Denyse Ramnarine
GM, Republic Bank Limited, Trinidad and Tobago
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