Page 85 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition

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

4 Service function

4.1 Cash in

A customer can use an agent for cash in. The customer gives money to the agent requesting an e-Money
account top up to a registered account. The agent receives the cash and sends the cash in request with the
customer’s identifier, e.g. mobile station international subscriber directory number (MSISDN) to the DFS
Platform. The e-Money is transferred from the agent’s account to the customer’s account.

Note: A deposit voucher can be used to prevent the need for a customer’s MSISDN being shared and is
applicable to countries and regions with high requirements on privacy protection. The agent deposits money
to the customer account using a deposit voucher without ever knowing the MSISDN.

4.2 Cash out

A registered customer can use an agent for cash out. The capital is transferred from the customer’s account
to the agent’s account. There are different operational options present for the agent and customer.

4.2.1 Customer initiated

The customer asks the agent whether he or she has sufficient cash as well as the agent identifier. The customer
will send the cash out request with the agent identifier, MSISDN, and appropriate authentication to the DFS
Platform.

4.2.2 Agent initiated
The gent can initiate the cash out request instead of the customer, which the customer then accepts by
providing their appropriate authentication.

Note: After obtaining a withdrawal voucher, a registered or unregistered customer can withdraw money using
a voucher through an agent.

4.3 Savings

Savings are used to give the customer some interest in a given period. Dependent on the type of product, a
customer may be able deposit/withdraw money to/from their savings account.

4.4 Loans

An organization can disburse funds for a loan. Funds are transferred from the financial institution, or group
of individuals providing the loan directly to the applicant’s individual account. A customer can request loans
from the financial institutions and will also have the ability to repay these loans.

4.5 Insurance

A registered customer can make a request to buy insurance from the financial institution.

4.6 ATM

A registered customer, or a previously created voucher, can deposit/withdraw money to/from an e-Money
account via an ATM.

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