Mandarin

# BaaS

# Introduction

BaaS (Bank as a service) Mandarin service (formerly Routing service), based on Electronic Payment Means (electronic wallet, hereinafter referred to as ESP or account), personal virtual accounts that are created by the platform for a specific an individual based on his identification data. The ESP belongs to the user, but is managed by the platform: the individual does not have direct access to the account, and all operations are performed by the business.

BaaS from Mandarin allows you to perform the following types of operations using the API:

  • Identify individuals using passport data, full name and telephone number in accordance with 115-FZ.
  • Open ESP online with limits - 100 thousand rubles. for one operation and 200 thousand account turnover per month.
  • Perform operations for replenishing ESP with an individual’s bank card (including via an AFT terminal with preferential rates), as well as through SBP. Perform the operation of withdrawing funds from the ESP balance to an individual’s bank card or to an SBP account.
  • Replenish the client’s ESP from a legal entity (issuing a loan).
  • Write off funds from the ESP in favor of one or more legal entities (loan repayment, payment for additional services).
  • Receive information about the ESP balance, as well as account transactions, incl. convey to the borrower.

Charge a commission for any of the above transactions with ESP - without VAT in accordance with the updated Tax Code of the Russian Federation.

Before starting work, the client binds a card or SBP that will be used for subsequent transactions: payment or acceptance. After this, a virtual account is created for him, which becomes an intermediate legally correct link between the platform and the user. Any payments are first credited to this identified account, and then the platform transfers funds to the client’s linked card/SBP details or to the account of one or more companies. Thanks to this, the business knows for sure that the money is being sent exactly to the person for whom the wallet was created, and does not face the risks of data substitution.

The platform accesses the wallet through the API to check its status and ensure that it is fully ready for transactions. If necessary, the platform requests the account balance in order to process payments correctly. Additionally, a business can receive a list of created wallets to use this information as part of internal operational processes. All enrollments and subsequent transfers are carried out automatically, without the participation of an individual.

ESP is also used in scenarios where fund allocation is required. After money is credited to the platform’s virtual account, full control over the further movement of funds is available: part can be sent in favor of the platform or the main service, the other part can be transferred to third-party legal entities, and the rest can be returned to the client on the card or through the SBP. This mechanism allows the platform to implement more complex financial processes, including refinancing, settlements with partners or multilateral transactions, without the need to work with different details directly. Thus, the e-wallet becomes the standard point of all financial transactions between the platform and individuals. It provides a single payment route, guarantees the correct identification of the recipient, gives the business control over the movement of funds and allows you to implement both simple payments and complex distribution scenarios.

# Use cases

# 1. Payment with identification

The platform prompts the user to link a card or SBP details, which will later be used to receive funds. After this, an ESP is created for the client, assigned to his identification data. When the platform needs to make a payout, funds are transferred to this ESP, ensuring an exact match between the payment transaction and the identified recipient. After crediting, the money is fixed on the account balance, and the platform transfers it to the client to the previously linked details - card or SBP. Thus, the requirements for monitoring the coincidence of the data of the borrower and the recipient of funds are met (Part 5 of Article 9 of the Federal Law No. 9-FZ and Order OD-1897 of August 28, 2025)

# 2. Accepting payments

Using AFT terminals without restrictions and in combination with other terminals for replenishing ESP and subsequent write-off in favor of microfinance organizations or other legal entities reduces acquiring costs by 2-5 times.

# 3. Distribution of funds between different recipients

Allows you to distribute funds between several recipients or automatically write off funds for the provision of additional services after issuing a loan with the highest conversion.

# 4. Refinancing

The platform begins the process by linking a payment instrument and creating a virtual account for a specific individual. When there is a need to redistribute funds within a product (for example, close one service, pay for an additional one, or return the balance to the client), the platform transfers the amount to the user’s virtual account. After funds are received into the account, the platform performs distribution according to a given logic: one part is sent in favor of the platform or the main service, the other is transferred to a third-party legal entity if necessary, and the balance is returned to the client to the linked details through a card or SBP. All operations take place automatically, in a clearly defined sequence: replenishment → fixing the balance → distribution → final payment. Due to this, the platform gains full control over the movement of funds and can implement mechanics of any level of complexity without the risk of errors or manipulations on the part of the user.