Page 342 - The Digital Financial Services (DFS) Ecosystem
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ITU-T Focus Group Digital Financial Services
                                                         Ecosystem




                  Stakeholder                  Pros                                 Cons
                Agents         Agents are able to provide the service in a
                               way that many people are demanding, and it
                               can often mean more revenue per transac-
                               tion for them.

                Mobile money   If mobile money users feel uncomfortable   With informal methods, mobile money users are
                users          with the system, agents can conduct the   usually exposed to extra charges from agents,
                               transaction for them, and they are not forced  and if they do not have an account, they may
                               to register for a mobile money account for   not be able to access more value-added services
                               which they might not perceive a need.  as the provider deploys them.

               To assess the issues from the perspectives of all stakeholders involved that balance: 1) Existing users’ preference
               for OTC options; 2) Regulators’ requirements to have such users identified; 3) Providers’ desire to constantly
               evolve product offerings through an account; and 4) Agents’ need to earn a decent margin from the business.
               For the industry to systematically address this issue, we have outlined the pros and cons for each of these
               stakeholders in table 3.
               There are four key considerations to accommodate these preferences in existing digital systems to help move
               the industry forward. These are:

               1.   Should policy makers and regulators formalise OTC in markets where it is prevalent to avoid unknown
                    transactions and cover AML/CFT risks?
               2.   Is there a scope for the use of technology to efficiently identify and verify senders and recipients to allow
                    OTC usage?
               3.   How can the industry introduce and implement mobile money accounts in the markets in parallel to OTC
                    to efficiently migrate the mobile money users?
               4.   How can the industry segment the market to develop customer-centric products and services to encourage
                    registered usage of mobile money accounts?










































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