02 | Payment Structure
Simplified Payment Solutions
Simplifying transactions and ensuring financial efficiency with integrated payment systems.
Effortless Payments Across Utilities, Rent, and Services
Managing payments for utilities, rent, and services in a smart space should be simple. Our integrated payment structure—featuring Embedded Finance, Digital Wallets, Convergent Billing, and a flexible Billing Engine—streamlines every transaction. The Waterfall of Payments ensures automatic, prioritized collections, reducing admin and enhancing financial control.
As smart spaces evolve, so too does the payment structure, creating an effortless, cashless ecosystem where both clients and end-users can enjoy a seamless, hassle-free experience.
Embedded Finance
Integrates financial services directly into the smart space ecosystem for seamless transactions.
Digital Wallet
A cashless solution that simplifies payments and enhances convenience for end-users.
Convergent Billing
Combines multiple services into one unified bill, streamlining payment processes.
Billing Engine
Automates billing cycles and reconciliation, reducing manual workload and errors.
Waterfall of Payments
Prioritizes payment allocations to ensure timely settlement and uninterrupted service.
Payment Structure Services
Managing payments efficiently is essential in a smart space. Our comprehensive payment structure integrates five key services—Embedded Finance, Digital Wallet, Convergent Billing, Billing Engine, and Waterfall of Payments—ensuring seamless, automated, and reliable payment management across multiple layers. With our platform, payments become simpler, faster, and more transparent, offering both convenience and control.
Embedded Finance
Embedded finance plays a crucial role in smart residential estates by seamlessly integrating financial services into everyday living, enhancing convenience, fostering community engagement, and streamlining transactions for residents and businesses alike.
Digital Wallet
Digital wallets are essential in smart residential estates, facilitating seamless transactions for utilities, services, and amenities. They enhance convenience, promote cashless interactions, and contribute to efficient community management and security.
Convergent Billing
Convergent billing is crucial for smart residential estates as it streamlines billing processes, enhances customer experience, and facilitates efficient management of utilities, services, and amenities, promoting seamless integration and sustainability.
Billing Engine & Micro Billing
Our Billing Engine, combined with Micro Billing, ensures accurate, real-time billing for all services. It allows for detailed tracking of utility usage, enabling residents to manage consumption efficiently. This transparent, scalable solution helps reduce unnecessary costs, promotes sustainable living, and improves overall financial accountability for both residents and property managers.
Waterfall of Payments
The “Waterfall of Payments” refers to a wallet functionality that prioritizes the recovery of payments in a specific order, based on established rules, to ensure that tenants make their rent payments on time.
Why the Payment Layer Matters
A seamless payment experience is the backbone of any smart ecosystem.
Simplified Payments
A unified approach to manage all types of payments in one platform.
Increased Efficiency
Automation and integration eliminate the need for manual processing.
Convenient Transactions
A digital wallet makes it easy for customers to manage payments securely and quickly.
Reliable Service Continuity
The waterfall of payments ensures that essential services are never disrupted.
Financial Transparency
Clear and accurate billing ensures that customers have full visibility into their charges
Technology Powered by SmartMatter
Nexco’s water technology solutions are made possible by SmartMatter—a leading FinTech and utility management platform for smart spaces. From real-time metering to digital billing, SmartMatter makes smart water management simple.
For more information visit the SmartMatter website
SmartMatter Wallet & Aureus
Product
SmartMatter Wallet
The SmartMatter Wallet is your central hub for managing utility and property payments seamlessly. Designed for modern smart spaces, it allows customers to track, pay, and manage charges for water, electricity, refuse, rent, fibre collection, and more. With easy top-up options and complete transparency on usage, tariffs and costs, the wallet empowers customers with full control of their expenses, ensuring a smooth, cashless experience within your space.
Product
Aureus Convergent Billing Engine
Aureus is our powerful billing engine, designed to simplify and automate utility and service billing. As a Platform-as-a-Service (PaaS), it scales effortlessly with your property portfolio. By integrating with smart metering technology, Aureus consolidates complex billing data, streamlining payment collections, tariff management, and reconciliation. With built-in flexibility for custom payment rules and split payments, Aureus supports smooth, efficient billing, making it easier for property managers to manage and tenants to pay.
Frequently Asked Questions
How does SmartMatter bill utility usage for tenants?
SmartMatter uses a post-consumption billing model, where tenants are billed daily based on their actual utility usage (e.g., water, electricity). Consumption is metered and reconciled daily, with charges deducted directly from the tenant’s SmartWallet the following day.
How can tenants top-up their SmartWallets?
Tenants can top-up their SmartWallets easily through EFT, ATM, or credit card. There is a 3.5% fee for credit card transactions. As a property manager, you can guide tenants to use their app or online banking to add funds, ensuring that they include their unique 6-digit reference code for seamless transactions.
What happens if a tenant’s SmartWallet balance is insufficient?
If a tenant’s SmartWallet doesn’t have enough funds to cover their daily utility consumption, their services may be suspended until they top up their account. It’s crucial to remind tenants to monitor their wallet balance regularly to avoid disruptions.
What services can be billed via the wallet?
Currently, the SmartMatter Wallet supports billing for essential utilities like hot water, cold water, electricity, refuse collection, and more. It also allows for the recovery of fixed daily charges or monthly costs, such as rent. Additionally, it covers biometric fees, deposits, levies, and several other services. We are continually expanding the range of services offered in a ecosystem, so if you have specific utility or fee requirements, feel free to contact us.
What are the key features of the SmartWallet?
The wallet offers several key features to make utility and payment management easier:
Real-Time Monitoring: Track daily utility usage and wallet balance at any time.
Automatic Payments: Utility and service charges are auto-debited (daily, weekly, monthly) from the wallet balance, ensuring timely payments and seamless service. No individual allocation of funds needed.
Top-Up Alerts: Users get a SMS notifications when the wallet balance is running low, so they can top up before service disruptions occur.
Secure Payments: Add funds to the wallet via EFT, ATM, or credit card, all within the app for a convenient, secure experience.
- Monthly Statements: Merchants and clients receive monthly account and contract statements.
Ready to streamline your payments?
Let’s simplify your payment processes today!
Whether you’re managing a residential estate, a commercial property, or a community hub, we make it easy to manage all your transactions seamlessly.