Page 368 - The Digital Financial Services (DFS) Ecosystem

Ecosystem
chants. Scheme rules often specify what aggregators are allowed
A specialized form of a merchant services provider , who typically
An entity authorized by the provider to handle various functions
tions may include transaction management, customer database
functions on behalf of payments systems, schemes, or switches.
handles payments transactions for a large number of small mer-
An enterprise that manages, on an out-sourced basis, various
management, and risk management. Processors may also do
such as customer enrolment, cash-in, and cash-out using an
functions for a digital financial services provider . These func-
The entity that operates a payment system or scheme.
agent till
to do.
Mobile Money Operator , Payment Service Provider
Alternative and Related T erms Definition The customer of a digital financial services provider: the cus- tomer may be a consumer , a merchant, a government, or another form of enterprise. A term used by many providers in describing how many of their account holders are frequent users of their service. The other side
Consumer , Customer , Merchant, Biller
Payee, Payer , Borrower , Lender Gateway Merchant Aggregator Agent Till, Agent Outlet Master Agent Verification, Validation Directories, Aliasing

T erm

(continued) End User Active User Counterparty Payment System Operator Processor Aggregator Agent Super Agent Processes Authentication Addressing

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