On Ledger

The CLOWD9 On Ledger solution enables your Customers to spend against their Available Balance as per the agreed Terms and Conditions where CLOWD9 platforms act as the system of financial/asset record.

CLOWD9’s On Ledger solution handles various use cases/asset classes:

• Single Currency Account associated with one/multiple Cards
• Multiple Currency Accounts associated with one/multiple Cards
• Multiple Accounts associated to one or multiple Customer and Cards e.g. main, savings, wallets, spending pots
• Crypto Backed Accounts
• Commodity Backed Accounts
• Other Asset classes

The type of Account(s) created will be based on Product configuration. For example, Multi Currency Accounts can not be created for a Product which is configured for a Single Currency Account offering.

The CLOWD9 ledger is asset class independent and may be used as a system of record for any type of value, for example currency, metal holdings, crypto balances etc.

For clarity and ease of documentation the following descriptions will typically use currency as the default asset terminology.

The balances held by CLOWD9 will be adjusted according to financial transactions/asset event activity as follows:

• Credit Account Balance: Following a successful credit request, the Available Balance and Current Balance will be increased by the value provided. Credit Account Balance requests may serve different purposes or be originated from different sources e.g. load, credit adjustments, debit reversals, write off.
• Debit Account Balance: Following a successful debit request, the Available Balance and Current Balance will be decreased by the value provided. Debit Account Balance requests may serve different purposes or be originated from different sources e.g. fees, debit adjustments, credit reversals, write on.
• Authorizations: Following an approved authorization, the value of the authorization plus any assessed fee will be debited from the Available Balance only. For example, the Customer has a 100.00 Available Balance and spends 40.00. The Available Balance will decrease by 40.00 and as a result the Customer will subsequently be permitted to spend a maximum of 60.00 against the new Available Balance value.
• Clearing: The Network will provide CLOWD9 with the clearing record for processing. CLOWD9 will attempt to match the clearing to an original authorization. If matched, the Available Balance will be adjusted in line with the value of the final Clearing record (if the clearing transaction value was different to the original authorisation transaction value) and the Current Balance will decrease by the value of the final Clearing Record.
• There are a number of business as usual use cases where CLOWD9 are unable to match the clearing record to an original authorization. This may result in the value being "double" debited from the Available Balance until either:
  • The amount is manually removed, or
  • The original authorization validity period has exceeded and the authorization is therefore automatically removed when the authorization ages off the system, resulting in a credit of the authorization amount back into the Available Balance.
• Refunds / Balance Increases (via the Network): The Available Balance will increase by the value received
• Reversals: The previous value will be reversed with the Available Balance changing as per the Reversal value (Full Vs Partial)

The physical funds/asset movements will take place outside of the CLOWD9 platform and therefore CLOWD9 can only hold the “values” of individual customer funds/assets within its platform as instructed by you via our APIs and/or Network financial messages.