WWW.DIS.XLIBX.INFO
FREE ELECTRONIC LIBRARY - Thesis, dissertations, books
 
<< HOME
CONTACTS



Pages:     | 1 |   ...   | 16 | 17 ||

«July 2012 THE WORLD BANK Acknowledgements The preparation of this paper was led by the Financial Inclusion Practice of the World Bank. Lead author is ...»

-- [ Page 18 ] --

Mobile Money E-money product where the record of funds is stored on the mobile phone or a central computer system, and which can be drawn down through specific payment instructions to be issued from the bearers‘ mobile phone.

Also known as M-Money.

Multi-Factor Authentication mechanisms typically use a combination of three factors to Authentication ensure that the person participating in a transaction is the person who he claims to be. These factors are: i) something a person has, such as a payment card; ii) something a person knows, for example a password, PIN number, token, etc.; and, iii) something a person is, typically a biometric information like fingerprint, but could also be non-biometric like keystroke patterns. Authentication systems that use more than one of these factors are called multi-factor authentication systems. Those that use two— something a person has and something a person knows—are specifically referred to as two-factor authentication mechanisms. It needs to be noted that in some contexts, inclusion of out-of-band authentication could also constitute multi-factor authentication.

Multilateral An arrangement among three or more parties to net their obligations. The Netting obligations covered by the arrangement may arise from financial contracts, transfers or both. Multilateral netting of payment obligations normally takes place in the context of a multilateral net settlement system. See also Bilateral Netting.

Netting An agreed offsetting of positions or obligations by trading partners or participants. Netting reduces a large number of individual positions or obligations to a smaller number of obligations or positions. Netting may take several forms that have varying degrees of legal enforceability in the event of default of one of the parties.

Network Money E-money that is transferred via telecommunications networks such as Internet.

Offline Authorization processed by exchanging financial messages between a Authorization card reader and chip card without exchange of online financial messages with the issuer of the card. See also Authorization.

Online Payment transaction using a standard banking account, with the Banking- transaction being authorized by the payer's bank at the time of transaction, enabled typically through introducing a standard Internet banking authentication as part of the payment transaction. In general, in this step the payer‘s Payment (OBeP) institution also provides an authorization and a commitment to honor a subsequent direct debit for this or alternatively committing to process a credit transfer. The payment transaction is then processed as a direct debit from the payer's account or a credit transfer by the payer's bank.

Out-of-band Authentication mechanisms where a different channel than the one used Authentication for the transaction is used to conduct authentication or in some cases to conduct an additional authentication. For example, in an Internet banking transaction, sending a one-time password to a person's mobile phone and requiring that password to be entered for completion of the transaction; or, in the course of a mobile phone-initiated transaction, triggering an automated call to the persons registered landline phone and seeking confirmation of the transaction.

Paper-based Payment instruments that require physical exchange between payer and Instruments payee and also require manual clearing.

Payment Card Payment product where the payer is provided with a physical card with required account information encoded in a magnetic stripe and/or on an embedded IC chip. The information on the magnetic stripe or IC chip being read/accessed by an appropriate device of the payee triggers an authorization request to ensure availability of funds in the payers account.

Cards issued by retailers for use within their premises or at a limited set of locations are not included in this definition.

Payment Card A company that owns trademarks of payment cards (credit, debit or Company prepaid cards) and may also provide a number of marketing, processing or other services to institutions issuing its cards.

Payment An order or message to transfer funds (in the form of a monetary claim on Instruction a party) to the order of the beneficiary. The order may relate either to a credit transfer or to a debit transfer.

Payment A payments system that connects various member institutions enabling Network interoperability of payment instruments issued by a member at other members‘ acceptance infrastructure. Commonly used to refer to payment card systems like Visa and Master Card.

Payment Order Same as payment instruction.

Payment Same as Payment Network, but specifically refers to card payment Switch network. Also referred to simply as Switch.

POS Terminal* This term refers to the use of payment cards at a retail location (point of sale). The payment information is captured either by paper vouchers or by electronic terminals, which in some cases are designed also to transmit the information. Where this is so, the arrangement may be referred to as ―electronic funds transfer at the point of sale‖ (EFTPOS). In the latter case, the terminal reads the account information from a payment card's magnetic stripe and/or embedded IC chip and in some cases also accept cardholders PIN entry; prepares a transaction authorization request based on transaction; transmits the authorization request to the acquiring institution; receives the authorization response; displays transaction completion status; and prints a transaction record.





Prepaid card Payment card provided in exchange of prior deposit of funds specifically for use through this card product.

Real Time The continuous (real-time) settlement of funds or securities transfers Gross individually on an order-by-order basis (without netting).

Settlement Retail Payment* A payment that meets at least one of the following characteristics; (i) the payment is not directly related to a financial market transaction; (ii) the settlement is not time-critical; (iii) the payer, the payee, or both are individuals or non-financial organizations; and (iv) either the payer, the payee,or both are not direct participants in the payments system that is processing the payment. This definition of retail payment includes personto-person, person-to-business, business-to-person, business-to-business, person/business-to-government, and government-to-person/business payments.

Retail A system comprising the technical infrastructure, participants, instruments, Payments arrangements for clearing and settlement, business relationship System arrangements such as bank-customer relationships, rules, procedures, the applicable legal framework, and governance arrangements that, put together, provide the overall environment within which retail payments are

posted, authorized, processed, cleared, and settled.

Settlement An act that discharges obligations in respect of funds or securities transfers between two or more parties.

Stored-value Stored-value cards are a type of E-Money product that do not involve a Card* deposit of funds into an account. Rather, the prepaid value is instead stored directly on the card in the embedded IC chip.

Stored-value E-Money products which employ specialized software on a chip card, Product mobile phone or any other personal computing device and which can typically be used to transfer electronic value via telecommunications networks, Internet, or using technologies like Near Field Communication (NFC), RFID, Bluetooth etc.

Time-critical A payment transaction that needs to be executed by a specified time.

payment Two-Factor See Multi-factor Authentication.

Authentication

Annex 9: References

Armstrong, M. 2008. ―Interactions between Competition and Consumer Policy.‖ Competition Policy International, Volume 4, Number 1.

Bergman, M. A. 2005. ―A welfare ranking of two-sided market regimes.‖ Working Paper Series 185, Sveriges Riksbank.

Bossone, B and M. Cirasino. 2001. ―The Oversight of payment systems: a framework for the development and governance of payment systems in emerging economies.‖ Bradford.T, 2007. Federal Reserve Bank of Kansas City ―Payment systems research briefing.‖ December.

Bullock, M..2010. Article in RBA Bulletin, September quarter.

CEMLA/World Bank. 2003. ―Payments and Securities Clearance and Settlement Systems Research Series.‖ CGAP and World Bank. 2010. ―Financial Access 2010.‖ March.

th Chakraborty, Dr. K.C. Reserve Bank of India Deputy Governor, at 20 SKOCH Summit, July 2009, Mumbai.

Chakravorti, S. 2009. ―Externalities in Payment Card Networks: Theory and Evidence.‖ Choon, S. and V. Lim. 2008. ―The Development of e-Payments and Challenges for Central Banks in the SEACEN Countries.‖ SEACEN.

Cirasino, M. and J.A. Garcia. 2008. ―Measuring Payment System Development.‖ Financial Infrastructure Series. Payment Systems Policy and Research, The World Bank.

Cirasino M, J. A. Garcia, C. Tresoldi, M.I. Vangelisti, and M. Zaccagnino. 2006. ―Retail Payment Systems to Support Financial Access: Infrastructure and Policy.‖ Cirasino, M. and M. Malaguti 2012. ―From Remittances to M-Payments: Understanding ‗Alternative‘ Means of Payment within the Common Framework of Retail Payments System Regulation.

(consultative report). The World Bank.

Committee on Financial Inclusion, India, chaired by Dr. C. Rangarajan. 2008. ―Report of the Committee on Financial Inclusion.‖ Committee on Payment and Settlement Systems. 1999. ―Retail Payments in Selected Countries.‖ BIS.

Committee on Payment and Settlement Systems. 2000. ―Clearing and settlement arrangements for retail payments in selected countries.‖ BIS.

Committee on Payment and Settlement Systems. 2001. ―Core Principles for Systemically Important Payment Systems.‖ BIS.

Committee on Payment and Settlement Systems. 2003a. ―Policy issues for central banks in retail payments.‖ BIS.

Committee on Payment and Settlement Systems. 2003b. ―A glossary of terms used in payment and settlement systems.‖ BIS.

Committee on Payment and Settlement Systems. 2004. ―Survey of developments in electronic money and Internet and mobile payments.‖ BIS.

Committee on Payment and Settlement Systems. 2006. ―General guidance for national payment system development.‖ BIS.

Committee on Payment and Settlement Systems and The World Bank. 2007. ―General Principles for International Remittance Services.‖ BIS, The World Bank.

Committee on Payment and Settlement Systems, Technical Committee of the International Organization of Securities Commissions. 2012. ―Principles for Financial Market Infrastructures.‖ BIS.

European Central Bank. 2003. ―Oversight Standards for Euro Retail Payment Systems.‖ European Commission. 2011. Commission Staff Working Paper 907.

Filipovski, B. and D. Flood. 2010. Article in RBA Bulletin, June quarter.

Financial Action Task Force. 2010. ―Money Laundering using New Payment Methods.‖ FATF.

Federal Deposit Insurance Corporation. 2009. ―FDIC Survey of Banks efforts to serve the unbanked and underbanked.‖ FDIC, February.

Federal Reserve Bank of Kansas City. 2009. ―The changing retail payments landscape.‖ Groupe Speciale Mobile 2011. ―Mobile Money for the Unbanked - Annual Report 2011.‖ GSMA.

Guibourg, G. and B. Segendorf. 2004. ―Do prices reflect costs? A study of the price- and cost structure of retail payments in the Swedish banking sector 2002.‖ Working Paper 172.

Hughes, N. and S. Lonie. (2009). ―M‐PESA: Mobile Money for the Unbanked.‖ Innovations, special edition for the Mobile World Congress 2009 (Boston, MA: MIT Press).

Javelin Strategy and Research. 2008. ―NACHA's Secure Vault Payments‖.

Kemppainen, K. 2003. ―Competition and regulation in European retail payment systems.‖ Discussion Paper 16.

Leinonen, H. 2009. ―Changing Landscape of Retail Payments: An Overview.‖ Lai, A., N. Chande, and S. O‘Connor. 2006. ―Credit in a Tiered Payments System.‖ Bank of Canada Working Paper No. 2006-36.

Mas, I. and O. Morawczynski. 2009. Designing Mobile Money Services. Lessons from M-PESA.

Innovations, Vol. 4, Issue 2, Spring (Boston, MA: MIT Press).

Mas, I. and A. Ng‘weno. 2009. ―Three keys to M-PESA‘s success: Branding, channel management and pricing.‖ Bill and Melinda Gates Foundation.

Mas, I. and D. Radcliffee. 2010. ―Mobile Payments go Viral: M-PESA in Kenya.‖ Bill and Melinda Gates Foundation.

Flaming, M., C. McKay, and M. Pickens. 2011. ―Agent Management Toolkit: Building a Viable Network of Branchless Banking Agents.‖ CGAP.

McKinsey et al. 2010. ―The benefits of e-Payments to Indian society.‖ Microsave. 2011. ―Briefing note #95- Do the M-PESA rails contribute to financial inclusion‖.

National Bank for Agriculture and Rural Development (NABARD), Status of Microfinance in India.

2009-10.

Oliver, R. and S. Weiner. 2009. ―The role of central banks in Retail Payments.‖ Reserve Bank of India (RBI). 2010. Annual Report, South African Development Committee, Payment system project team. 2002. ―Guide to developing a strategic framework for payment system modernization.‖ Rochet, J. and J. Tirole. 2004. ―Defining Two-Sided Markets,‖ mimeo, IDEI and GREMAQ, Toulouse.

Tapking, J. and J. Yang. 2004. ―Horizontal and vertical integration and securities trading and settlement‖. Working Paper No. 387 The Economist 2012. ―Article on Facebook.‖ 4th February edition.

The World Bank. 2008a. ―Balancing Cooperation and Competition in Retail Payment Systems: Lesson from Latin America Case Studies.‖ Study coordinated by Mario Guadamillas, Financial Infrastructure Series. Payment Systems Policy and Research.

The World Bank. 2008b. ―Payment Systems Worldwide: A Snapshot. Outcomes of the Global Payment Systems Survey 2008.‖ Financial Infrastructure Series. Payment Systems Policy and Research.

The World Bank. 2010. ―Good Practices for Consumer Protection and Financial Literacy in Europe and Central Asia: A Diagnostic Tool.‖ The World Bank. 2012. ―Innovations in Retail Payments Worldwide: A Snapshot. Outcomes of the Global Survey on Innovations in Retail Payments Instruments and Methods 2010 (consultative report)‖.

The World Bank. 2012. ―Payment Systems Worldwide: A Snapshot. Outcomes of the Global Payment Systems Survey 2010.‖ Financial Infrastructure Series. Payment Systems Policy and Research.

The World Bank Group. 2009. ―Financial Infrastructure. Building Access Through Transparent and Stable Systems.‖ Financial Infrastructure Series.

Thomas, D. and F. Frizon. 2012. ―Resolving disputes between consumers and financial businesses:

Fundamentals for a financial ombudsman.‖ United Nations. 2006. ―The Blue Book - Building Inclusive Financial Sectors.‖ William, J. and T. Suri. 2011. ―Mobile Money: The Economics of M-PESA‖. National Bureau of Economic Research, Working paper 16721.



Pages:     | 1 |   ...   | 16 | 17 ||


Similar works:

«C&SPapersSeries 12/P PROCEEDINGS International Conference held in Stockholm, Sweden, 7–11 May 2001 Organized by the International Atomic Energy Agency in co-operation with the World Customs Organization, the International Criminal Police Organization — Interpol and the European Police Office, and hosted by the Swedish Nuclear Power Inspectorate Measures to Prevent, Intercept and Respond to Illicit Uses of Nuclear Material and Radioactive Sources INTERNATIONAL ATOMIC ENERGY AGENCY The...»

«Engaging Diasporas How governments and development agencies can support diaspora involvement in the development of origin countries June 2006 Hein de Haas International Migration Institute James Martin 21st Century School University of Oxford www.imi.ox.ac.uk A study for Oxfam Novib © Hein de Haas This study was made possible by support provided by Oxfam Novib. However, the views, interpretations, recommendations and conclusions expressed in this paper are those of the author and not...»

«CURRICULUM VITAE MASSIMO FORNASIER 1. PERSONAL DATA, EDUCATION, CAREER, AND AVAILABILITY 2. SCIENTIFIC RESEARCH ACTIVITY 2.1 Research directions 2.2 Synthesis of the scientific activity in approximation theory and numerical harmonic analysis 2.3 Synthesis of the scientific activity in digital signal and image processing 2.4 Synthesis of the scientific activity in numerical solution of (pseudo)differential equations 3. COMPLETE LIST OF PUBLICATION 4. CONFERENCE, SEMINAR, AND COURSE PARTICIPATION...»

«3 SRV-VRS: The International Social Role Valorization Journal, Vol. 1(1) 1994 An Analysis of the Client Role From a Social Role Valorization Perspective Wolf Wolfensberger and Susan Thomas Syracuse University Introduction The construct of social roles is central to the entire theory and practice of Social Role Valorization (SRV). If people are enabled to hold valued social roles, then it is more likely that the valued conditions of life will be extended to them by others and by society, and...»

«deutsche bank de deutsche bank de Deutsche Bank Online Kompetente erstklassige Beratung. Kompetente erstklassige Beratung. Informieren Termin vereinbaren. TARGOBANK Online | targobank.de Ausgezeichneter Kredit mit Topzins, attraktive Konten und Geldanlagen. Mobiler Vertrieb Index Die selbstständigen Finanzberaterinnen und Finanzberater für die Deutsche Bank bieten fachliche Kompetenz und zeitliche Flexibilität. Sie bringen das Deutsche Bank Deutsche Bank, Frankfurt am Main. 95.541 Gefällt...»

«List of Device Category Codes for Present or Previous Pass-Through Payment and Related Definitions Effective: January 1, 2016 This document provides a complete list of the device category HCPCS codes used presently or previously for pass-through payment, along with their expiration dates, and definitions we published for certain device category C-codes. Please note that this list does not include all device codes reportable under the OPPS; there are additional HCPCS codes for devices that were...»

«Project Number: 215219 Project Acronym: SOA4All Project Title: Service Oriented Architectures for All Instrument: Integrated Project Thematic Information and Communication Priority: Technologies D2.1.2 Service Modelling Tools Design Activity: Activity 1 Fundamental & Integration Activities Work Package: WP2 – SOA4All Studio Due Date: M6 Submission Date: 29/08/2008 Resubmission: 12/03/2009 Start Date of Project: 01/03/2008 Duration of Project: 36 Months Organisation Responsible of Deliverable:...»

«Revival of City Squares in Balkan Cities Urban notes: City Squares and Public Spaces Arch. Divna Penčić Coalition for Sustainable Development – CSD, Skopje Revival of City Squares in Balkan Cities Urban Notes: City Squares and Public Spaces Arch. Divna Penčić When talking about squares and public spaces, in order to be clear, first of all, we will have to define their meaning. In our communication we use the term square quite frequently, and it appears that we are pretty clear what does...»

«Data Communication and Computer Network Data Communication and Computer Network About the Tutorial This tutorial gives very good understanding on Data Communication and Computer Networks. After completing this tutorial, you will find yourself at a moderate level of expertise in knowing DCN, from where you can take yourself to next levels. Audience This tutorial is prepared for the beginners to help them understand Data Communication and Computer Networks. Prerequisites Before proceeding with...»

«1 ‘A Dark Age Devoted to Barbaric Affluence’ Oakeshott’s Verdict on the Modern World. A paper by Ivo Mosley for the Michael Oakeshott Association Conference, Colorado Springs, 2006. Introduction. ‘The beginning of a dark age devoted to barbaric affluence’: Oakeshott’s assertion of where civilization was heading in 1972 struck some as unduly pessimistic. Now, thirty-four years later, his diagnosis seems (to many) less like a gloomy prediction, more like a well-put observation. I was...»

«Course
Catalogue
 THE
COMMEDIA
SCHOOL
 February
2012
 
 
 
 THE
COMMEDIA
SCHOOL
 
 Course
Catalogue
 
 ECTS
‐
implementation
 
 
 
 CONTENTS
 ‐ Part
1:
Information
on
The
Commedia
School
 ‐ Part
2:
Information
on
physical
theater
program

 
  Key
learning
outcomes
  Course
structure
diagram
  Description
of
individual
course
units
 
...»

«Compressor 3 User Manual Copyright © 2009 Apple Inc. All rights reserved. Apple, the Apple logo, AppleScript, Apple TV, DVD Studio Pro, Final Cut, Final Cut Pro, Final Cut Studio, Your rights to the software are governed by the FireWire, iPod, iTunes, Logic, Logic Studio, Mac, Mac OS, accompanying software license agreement. The owner or QuickTime, Soundtrack, and Xsan are trademarks of authorized user of a valid copy of Final Cut Studio or Apple Inc., registered in the U.S. and other...»





 
<<  HOME   |    CONTACTS
2016 www.dis.xlibx.info - Thesis, dissertations, books

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.