Page 117 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition
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ITU-T Focus Group Digital Financial Services
                                              Technology, Innovation and Competition



               There are usually no limitations on the type of services the DFS user can obtain and use with the e/m-Money
               stored value. For example, the value can be used to make merchant payments for both physical and digital
               goods and services, as well as to do P2P payments within regulated know your customer (KYC) limits.
               Indeed, a critical distinction between the airtime stored value account wallet and the fiat-based stored value
               wallet is the fiat value a MNOs receives when the airtime is purchased by users may also be used for operational
               expenses by the MNO.

               At the non-bank SP level however, there may be limitations on use of the fiat money received for fractional
               banking purposes: That is, for providing credit or similar types of riskier services.





               7      Mobile phone UIs used in DFS


               7.1    Overview

               While the explosion of new types of phones and OSs has provided reliable communications and services to
               users, there is an equally critical need to find effective UIs for the simpler devices used for accessing DFS
               products. Many potential users of DFS however, have limited technical literacy beyond the procedures used
               for making basic phone calls and using the mobile phone to input a code from a prepaid airtime voucher using
               USSD or IVR.
                          52
               Depending on the type of service and region a combination of the following may be offered by SPs as the
               primary interface to DFS products:
               Sound-based:

               •    Voice channel – IVR
               •    Voice channel – NSDT

               Text-based:

               •    SMS – cleartext (unencrypted)
               •    SMS – encrypted via STK
               •    USSD – mobile originated USSD (MO-USSD)
               •    USSD – network initiated USSD (NI-USSD)

               Graphical interfaces:

               •    SMS – via Java-based applets
               •    IP-based OTT mobile phone applications
               •    IP-based WAP


               7.2    Voice channel

               The three main methods of interaction for DFS services using the GSM voice channel are via caller line identity
               (CLI), IVR, and NSDT.







               52   See for example Grameen Foundation (2013) ibid.



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