Page 100 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition

ITU-T Focus Group Digital Financial Services
Technology, Innovation and Competition

19 User preferences

Providing the appropriate: Hierarchy; registering; secure ID management; blocking and unblocking; managing
of specific business rules and fees associated with user activity and services.

20 Merchant preferences

Providing the appropriate: Hierarchy; registering; secure ID management; blocking and unblocking; managing
of specific business rules and fees associated with merchant activity (including creation of merchant, stores,
and employees).

21 Agent preferences

Providing the appropriate: Hierarchy; registering; secure ID management; blocking and unblocking; managing
of specific business rules and fees associated with agent activity (including creation of super agents, agents,
stores, and employees).

22 Receipting
The platform could support the creation of digital receipts for all transactions created that can be stored in a
consumer’s cloud account for subsequent warranty and returns claims - the data should be both searchable
and retrievable for consumers and accessible by the consumer profiling services for data mining, and insurance
products for simpler insurance creation.

23 eInvoicing

The platform could support the creation of electronic invoices (eInvoices) to provide electronic bill presentment
where necessary: Merchant or utility companies; consumers marking an invoice as in dispute and appropriate
remediation processes to bring to resolution; issuing a configurable set of reminders at set intervals to a
consumer for eInvoices nearing or exceeding due date.; merchant monitoring and tracking of all outstanding
or due invoices; configurable events to allow for chasing reminders to be sent, and, in worst case scenarios,
onward processing to a debt collection agency; the payment capability supporting partial and full payments
and reconciliation of any eInvoices.

24 Liability management

The platform could provide monitoring, tracking, and reporting of all liabilities for merchants and agents it
should support, where necessary: Identifying amounts due to or owed by consumers, merchants, and agents
with segregation of when such items become due; identifying amounts awaiting settlement or reconciliation.

25 Cash management

The platform should support reporting of cash floats available at merchants to ensure that there is sufficient
liquidity in the ecosystem. It should also support reporting of the following: Liquidity management and risks;
cash available or required at a specific location; cash available or required in a specific geographic region.

26 Financial reporting

The platform could have the ability to create regulatory compliant financial reports and accounting procedures,
supporting its own internal general ledger.

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