DeepShield wallet allows you to add an ACH based wallet to your website so your customers can pay you from their bank account securely without any payment processing fee.
We achieve this by hosting a payment network on your behalf that exclusively serves your business. This means that, unlike PayPal or Venmo, the wallet your customers use to pay can only be used to pay you. You can see from the following figure 1.1 how we achieve this abstraction.
As you can see from figure 1.1, there is no escrow or intermediate account present. When a customer pays you or transfers funds in your wallet, the funds are directly transferred to your wallet instead of being held in a escrow or intermediate account.
Lets talk a little bit about the major components present in figure 1.1
1. Merchant Front End
Merchant front end is either a website or an app that you develop. We understand that all apps are completely different, therefore, DeepShield doesn't have any requirements on how the front end should be presented to your customer. How you manage the payments with your customers is totally up to you. We simply provide the APIs so you could provide an ACH based payment solution to your customers.
After taking a look at the API and feel that there is something missing, please don't hesitate to contact us through Customer Support. We will get back to you in less than 24 hours.
2. DeepShield Merchant API
'DeepShield Merchant API' is the main API you will be interfacing with. We have worked hard to ensure that there aren't a ton of APIs you will need to call to achieve the goal. We have designed the API's for both network efficiency and ease of use.
You can find the full documentation of the API's here.
3. Merchant Sandbox
Merchant Sandbox is the cloud based back end service that we host on your behalf. This service is run on a per merchant basis and is completely sandboxed from another merchant's sandbox. Your data is kept within your sandbox and can only be added, modified, removed or viewed by you only.
The sandbox design allows us to keep transaction, payment, transfer and customer data on a per merchant basis.
If you have any more questions regarding our sandboxes implementation, please don't hesitate to contact support with your questions.
3. DEEPSHIELD FRAUD AVOIDANCE
Perhaps the most important and unique part of our product is the fraud avoidance system. The DeepShield fraud avoidance system is a deep learning based neural network that is the gatekeeper of all transactions that occur through the system.
The fraud avoidance system asses the risk of fraud on a per transaction basis and provides the risk to the policy manager. The preconfigured settings in policy manager allows the payment processing back-end to figure out whether to allow or deny the transaction.
4. Payment processing back-end
DeepSheild's payment processing backend is responsible for communicating with all the different components in the system to make sure the transactions get processed properly.
The payment processing back end also provides a dashboard so merchants can login into their sandboxed account to manage their data.
5. Policy manager
DeepShield policy manager works with the fraud avoidance system to apply a policy based on merchant's preference.
Using the Policy Manager, merchants can set risk thresholds that allow the system to make a decision to allow or deny the transactions. For example, a merchant could set the thresholds described in Figure 1.2
You can always use the defaults that are set by the system. These defaults are dynamic and keep changing based on the recommendations from our deep learning neural network. The benefit of using the system defaults is that the fraud avoidance system adopts a more risk averse policy automatically in real time, if the system senses fraud within the system.