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ITU-T Focus Group Digital Financial Services
Ecosystem
Definition A service which enables a merchant or other payment acceptor to accept one or more types of electronic payments. The term "acquiring" is typically used in the card payments systems. Services which support merchant or business functions relating A service which allows a government agency or an enterprise to
to digital financial services (DFS). ers, but can be businesses as well. from individuals and businesses. account or an eMoney account. country. country. the "payment acceptor" or merchant.
Alternative and Related T erms Electronic Invoicing, Enterprise Resource Planning (ERP), Digital Accounting Services, Business Intelligence Situations in which DFS services are used. P2P; Remote Cross-border Transfer of Value, Cross-Border
Acquiring services Account, Wallet P2P; Remote Domestic Transfer of Value Remittance G2C, B2C , G2P , Social Transfers C2B – Consumer to Business
T erm Provided to Businesses and Governments Merchant Payments Acceptance Services Government Payments Acceptance Services Cross-border Trade Finance Services
(continued) Supply Chain Solutions Bulk Payments Services Use Cases Storing Funds Sending or Receiving Funds Domestic Remittance International Remittance Bulk Payments Paying for Purchases
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