Page 105 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition

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

List of acronyms used in the different layers in the reference architecture in Figure 7

User Experience

• Touchable UX/Smartphones – mobile devices with a touchable user interface.
• STK – Sim Tool kit, an application residing on the SIM

• SP for Payments – Service provider for payments
• SP for NFC – Service Provider for other Near Field Communication services (i.e. transportation or access
control)

• MI/Reports – Management Information and Reporting Modules
• API – Application Programming Interface

• POS – Point of sale device, dedicated terminal used to accept card payments
• mPOS – mobile Point of Sale terminal – additional hardware, once connected to a mobile device, creates
a secure payment terminal

• VPOS –Virtual Point of Sale software – software that allows a PC or other internet device to act as a secure
payment terminal

• ATM – automated teller machine
Service Logic

• BPM – Business Process Modelling
Financial Services Capability

• HCE Tokenisation – Host Card Emulation Tokenisation. Provision of security tokens to eliminate the need
to send sensitive data (such as card information) to the mobile device. The token is instead converted
into real card data at the time of transaction processing.
• Card Perso. – Card personalisation. Secure manufacturing process required to add relevant identifiers to
physical card
• HSM – Hardware Security Module

• Transportation TSM – Transportation Trusted Service Manager – to facilitate transfer of relevant secure
transportation data to a device

• SVA – Stored Value Account
• D2B – Direct to Bill – mechanism to use the mobile balance as the source of funds. Sometimes referred
to as Direct Carrier Billing.

• KYC – Know Your Customer – process to capture and validate a customer’s identity
• Remittance FX – Foreign Exchange mechanism, to identify the current rate of foreign exchange
• Remittance Dist – database supporting the distribution mechanism for funds – i.e. merchants and agents
involved in remittance flows
• Remittance SX – Settlement mechanisms and controls for settling remittance flows

• Financial CRM – dedicated Customer Relationship Management
• Financial BI – dedicated Business Intelligent Module

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