Page 360 - The Digital Financial Services (DFS) Ecosystem

Ecosystem
An eMoney product for general purpose use where the record of
embedded integrated circuit chip) or a central computer system,
A transaction account held at a bank. This account may be acces-
and which can be drawn down through specific payment instruc-
funds is stored on the payment card (on magnetic stripe or the
sible by a mobile phone, in which case it is sometimes referred
A transaction account held at a non-bank. The value in such an
other authorised deposit-taking financial institutions that can
are known in some countries as current accounts, chequing
be used for making and receiving payments. Such accounts
account is referred to as eMoney.
accounts, or other similar terms.
to as "mobile banking".
Digital Wallet, Mobile Wallet, Mobile Money Account
Mobile Banking, Remote Banking, Digital Banking
Alternative and Related T erms Definition Products and services provided to end-users of digital financial services. Transaction account: broadly defined as an account held with Deposit account, eMoney account, Current account a bank or other authorised and/or regulated service provider (including a non-bank) which ca
Overdraft, Facility

T erm Bank Accounts and Transaction Services eMoney Accounts and Transaction Services

(continued) Products and Services Provided to Consumers Transaction Accounts Prepaid Cards Savings Products Loans Investment Products Insurance Products

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