Page 12 - ITU-T Focus Group Digital Financial Services – Recommendations

ITU-T Focus Group Digital Financial Services
Recommendations

adequate safeguards, as well as implement policies that protect consumers from potentially harmful
effects (e.g., data privacy, pricing discrimination, identity theft, etc.)
• Policy makers should take steps to encourage electronic B2B payments (merchants paying suppliers
electronically, for example). This could help the DFS ecosystem as a whole achieve digital liquidity and
improve the ability of governments to collect taxes. For example, this could make it easier for informal
businesses to make digital business to business (B2B) payments by taking a risk-based/tiered approach to
regulating those payments, supporting interoperable B2B payment systems, and encouraging/mandating
e-invoicing in certain situations as it is implemented in Chile, Brazil, Mexico, and Argentina, for example.
• Encourage the development of alternative credit decisioning (ACD) that includes merchants’ payments
history, in a system open to a wide range of participants – banks, mobile network operators (MNOs),
alternative lenders, etc. Importantly, policy makers should address a range of issues surrounding consumer
and merchant consent, collection, usage, securing, ownership, and sharing of ACD data.

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