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Bundle

Bundle
Published on 24th March, 2021

Discover the important functional concepts related to Bundle. In this article, you learn about:

What is a Bundle?

Bundle is a construct in Fusion, that is used to package and issue financial products. A Bundle, in itself, is not a financial offering/product, but is a way in which different Financial Products can be packaged together. In simple terms, Bundle is just a collection of Financial Products. There are 2 types of products that are currently supported by Fusion - Account Products and Payment Products. Using Bundle, a fintech company can issue multiple Account Products and multiple Payment Products for an Account Holder in one go.

For example, consider a fintech that wants to offers a Visa General Purpose PrePaid Card to its customers. Here, the Bundle for this offering would have the following:

  1. A Gereral Purpose Reloadable Prepaid Account Product (GPR) - An Account Product for holding the balance of the Account Holder
  2. A Visa Card - A Form-Factor Product (or, Payment Instrument) for utilising the balance stored in the Account for making transactions

Type of Products

There are 2 types of products that are currently supported by Fusion - Account Products and Payment Products.

Account Product

An Account Product is a product which when issued leads to provisioning of an Account for an Account Holder. Account stores the balance of the Account Holder’s money with the Bank and record of all the transactions that might change the balance of the Account.

Account Products can either be of type Liability or Asset. Currently, Fusion supports only Liability type Account Products. The Liability Accounts Products that are currently supported are General Purpose Reloadable Prepaid Product (GPR) and Gift Product.

Payment Product

A Payment Product itself consists of 2 products - Resource Product and Form-Factor Product. A Payment Product when issued leads to provisioning of a Form-Factor(or Payment Instrument) and a Resource.

A Resource is an entity that represents a collection of Form-Factors. A resource can have multiple Form-Factors of same and different types. For more details on Resource and Form Factor, you can refer to Key Concepts section.

A Form-Factor(or Payment Instrument) is an entity that can be used to make a payment. A Form-Factor belongs to an Account Holder and is always associated with a target account. Any payment done using a Form-Factor would lead to utilization of balance from its target account.
Currently supported Payment Products are Physical cards and Virtual cards on Visa, RuPay and MasterCard networks.

A Form-Factor cannot exist without a Resource and belongs to exactly one Resource. However, a Resource can have multiple Form-Factors(of same and different types) associated with it.


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