Page 352 - The Digital Financial Services (DFS) Ecosystem

Ecosystem
transactions between and among providers. This can be done by
Typically used in card schemes to effect payment of a fee from a
may either be a fixed fee, a percent-of-value fee, or a mixture. A
provider to pay the other provider a fee on certain transactions.
A structure within some payments schemes which requires one
or multilateral arrangements. Both technical and business rules
more proprietary platforms or even different products to inter-
providers participating in a scheme, or by a variety of bilateral
act seamlessly. The result is the ability to exchange payments
When payment systems are interoperable, they allow two or
The payments assessed by a provider to their end user . This
issues need to be resolved for interoperability to work.
merchant to a consumer's card issuing bank.
Alternative and Related T erms Definition A payment type which is initiated by the payer , who instructs their provider to debit their account and "push" the funds to the receiving payee at the payee's provider . A payment system or scheme designed for multiple providers to participate in. Payment system rules or nat
Interconnectivity Swipe Fee, Merchant and Discount Fee

T erm

(continued) Push Payments Open-Loop Closed-Loop Interoperability Interchange Fees Commission Ubiquity

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