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Interoperability - PowerPoint PPT Presentation


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Interoperability. Concept . Ability to send money from one mobile number to another mobile number P2P money transfers Small value merchant payments . Standards document was circulated, with broadcast being the key method. Customer. Customer. Bank 4. Bank 3.

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Presentation Transcript
concept
Concept

Ability to send money from one mobile number to another mobile number

  • P2P money transfers
  • Small value merchant payments
standards document was circulated with broadcast being the key method
Standards document was circulated, with broadcast being the key method

Customer

Customer

Bank 4

Bank 3

Beneficiaries mobile number, amount

Bank 2

Broadcast with the correct bank responding

MPP

MPP

Bank1

Switch / settlement agency

Bank

Bank

Customers account CBS

Customers account CBS

Each mobile number will be linked to a bank account

standards document circulated but one change has been made
Standards document circulated, but one change has been made

Customer

Customer

Beneficiaries mobile number, BIN + MAS, amount

MPP

MPP

Switch / settlement agency

Bank

Bank

Customers account CBS

Customers account CBS

Each mobile number will be linked to a bank account

advantages of new method
Advantages of new method
  • Much more efficient system as all banks will not work to locate the customer of one bank
  • Able to pinpoint one account as opposed to a “default account”
pilot phase update
Pilot phase: Update
  • 6/ 7 banks will participate in the pilot phase
  • Phase 1 likely to be P2P payments only
  • NPCI will be ready with architecture as per documentation by April 30
  • 6-7 banks will participate in the pilot
  • Standards will be documented on the basis of the pilot by IIT Madras
  • Pilot phase launch likely in May / June
  • Commercial launch 6 months later