Internal payment system KREDIT 7

Central user account KREDIT 7
Every client is assigned one account in the system. The account may have various features – the basic feature is the account type (credit or debit).  

Credit account
The client uses the account funds as credit (going into the negative numbers) and once per clearing period (month) balances this amount by a deduction from salary. Other clearing options may be considered (invoice, bank transfer, etc.). 

Debit (deposit) account
The client deposits the funds into the account in advance (multiple options are available how to do this) and then uses these funds. Several attributes may be set for this type of account – clearing level, minimal balance and maximal daily payment.  

Clearing level
Credit account: Typically set to zero. This means that the client uses funds, e.g. -250 SKK, and a deduction from salary (in the amount of + 250 SKK) clears his/her account to zero. It is possible to get a positive clearing level and thus achieve a certain form of deposit on this account while keeping its other properties intact.

Debit account:The clearing level is used when depositing funds into the account using periodic payments or any other clearing methods. Only the funds that client needs are transferred to the account.

Minimal balance
Credit account: Typically set to zero – in this case, the client has no restrictions in using the account funds. By setting a negative amount, we can pose a restriction on the allowed amount. 

Debit account: Typically set to zero – in this case, the client uses the account funds until they are depleted. There is an option to set a negative amount – in such case, the user may use an overdraft – this way, it is possible to achieve a certain amount of cash flow in the system or possibly avoid undesirable overdrafting in case of an offline device.

Maximal daily payment 
It is used for capping daily usage of account funds – this restricts the misuse in case the identification medium is lost (before it is blocked in the system).
It is also possible to manually end the validity of a client account in the system or to move him/her to an archive database (under certain conditions). 

Quotes of the successful

"Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time"

Thomas Alva Edison

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