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ITU-T Focus Group Digital Financial Services
Ecosystem
Definition Transaction account: broadly defined as an account held with a bank or other authorised and/or regulated service provider (including a non-bank) which can be used to make and receive payments. Transaction accounts can be further differentiated into deposit transaction accounts and eMoney accounts. Deposit
accounts, or other similar terms. to as "mobile banking". account is referred to as eMoney. Means by which end users can borrow money. investments other than a savings account. lives that they wish to protect.
Alternative and Related T erms Products and services provided to end-users of digital financial services. Deposit account, eMoney account, Current account Mobile Banking, Remote Banking, Digital Banking Digital Wallet, Mobile Wallet, Mobile Money Account Microfinance, P2P Lending, Factoring, Cash Advances, Credit,
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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