Digital Money

Digital Money is rapidly changing the way people pay. Our 'Start Anywhere Go Everywhere' knowledge base continually tracks this complex ecosystem. New to S.A.G.E?

"There are few companies in the world who are so expertly focused on the complex topic of mobile money ... I would be very surprised if there was a better source of information out there. ..." Adam Lee, Chief Product Officer, Boku, Inc.
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Initiatives around the world

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SALVADOR"],["Americas",4,"Region_AMERICAS"],["Slovenia",4,"Country_SLOVENIA"],["Kazakhstan",4,"Country_KAZAKHSTAN"],["Niger",3,"Country_NIGER"],["Mali",3,"Country_MALI"],["Morocco",3,"Country_MOROCCO"],["Paraguay",3,"Country_PARAGUAY"],["Bahrain",3,"Country_BAHRAIN"],["Botswana",3,"Country_BOTSWANA"],["Gabon",3,"Country_GABON"],["Guinea",3,"Country_GUINEA"],["Jordan",3,"Country_JORDAN"],["Kuwait",3,"Country_KUWAIT"],["Burundi",3,"Country_BURUNDI"],["Namibia",3,"Country_NAMIBIA"],["Nicaragua",3,"Country_NICARAGUA"],["Dominican Republic",3,"Country_DOMINICAN REPUBLIC"],["Lesotho",3,"Country_LESOTHO"],["Mozambique",3,"Country_MOZAMBIQUE"],["Slovakia",3,"Country_SLOVAK REPUBLIC"],["Uruguay",3,"Country_URUGUAY"],["Venezuela, Bolivarian Republic of",3,"Country_VENEZUELA"],["Seychelles",3,"Country_SEYCHELLES"],["Uzbekistan",3,"Country_UZBEKISTAN"],["Northern Europe",3,"Region_NORTHERN EUROPE"],["Myanmar (Republic of the Union of Myanmar, formerly 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March 16, 2017 - The Florin Awards Europe 2017

    I am just back from chairing the Florin Award Jury at The European Payment Summit 2017.   We were pleased to see some highly innovative products and services from the finalists. ThreatMetrix was the winner of the Florin … Continue reading


January 26, 2017 - A celebration of Republic Day in the land of miracles

  Simply put, this is an important day for me.  I would not have been around but for India’s Independence followed 3 years on by our Republic Day, now in it’s 68th glorious year. My Dad wanted to bring free … Continue reading


January 1, 2017 - Happy New Year 2017

We wish all our readers a wonderful New Year 2017!   With our best wishes The Shift Thought Team


December 22, 2016 - Merry Christmas

  We wish all our readers a Very Merry Christmas and a Happy New Year 2017     Thanks for your companionship and patronage this year! Let us work together to make the world a better place for our children … Continue reading


November 24, 2016 - Happy Thanksgiving!

  God grant us the serenity to accept the things we cannot change the courage to change the things we can and the wisdom to know the difference   We wish our dearest American friends the happiness of friendship, the … Continue reading


November 21, 2016 - Openness versus Certainty of Regulations – What is more enabling?

Both openness and certainty are important to establishing what is termed as an “enabling” financial services(FS) regulatory environment. Firstly, what is an enabling regulatory environment? Just as plants would struggle to grow and survive without the right soil, climate and … Continue reading


October 29, 2016 - Happy Diwali 2016

We wish our dear Indian friends and families A wealth of health and happiness This Diwali and in many happy years to follow.     With very best wishes, From The Shift Thought Team


August 31, 2016 - A story of Malaysia and Singapore reflected by their coinage

  Today is an important day for Malaysians, marking the creation of the Federation of Malaya back in 1957. Six years later, on this same day, North Borneo and Singapore would gain their freedom, leading to an Independent Malaysia on … Continue reading


July 26, 2016 - Could new regulatory guidelines in Bangladesh turn MFS into “nobody’s baby”?

With the recent release of new draft guidelines for mobile financial services (MFS) in Bangladesh, I caught up with payments expert Raihan to get his views on the state of play of the market, possible outcomes from the guidelines and … Continue reading


March 1, 2016 - The complexity of the gold ecosystem presents quandaries for regulators

  With us since times immemorial, Gold has proved to be one currency that has remained relatively stable despite turmoil in global financial markets. Universally accepted, and prized as a medium of exchange from ancient times, today it offers renewed … Continue reading


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Mar 16, 2017 - Identity fraud hits all time high – young people growing target - Information Age

Identity fraud hits all time high – young people growing target As consumers becomes more dependent on digital services and online banking – as an example – online fraudsters have taken advantage. There is a clear correlation, although Cifas has said more people need to be more vigilant about protecting their ... and more »

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Context: DS, OB, Target, Target, Fraud, Identity


Mar 16, 2017 - US payments firm ACI wants a piece of action in India - Economic Times

US payments firm ACI wants a piece of action in India With Aadhaar as the base, instant payments systems and advanced digital wallets India is in a sweet spot to facilitate a shift from cash to digital currency which in turn could boost the country's economy, he said. ACI which processes around $14 ...

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Context: India, DM, NPCI AEPS, Currency, Economy, Payments, India Country Viewport, ST MM India


Mar 16, 2017 - Government to tax e-commerce sector in Pakistan - TechJuice (press release) (blog)

Government to tax e-commerce sector in Pakistan Electronic commerce or e-commerce is a term for any type of business, or commercial transaction that involves the transfer of information across the Internet. It covers a wide range of business activities taking place through the internet such as ... and more »

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Context: Pakistan, Transfer, Pakistan Digital Money Snapshot, Tax, Web, Pakistan Country Viewport


Mar 16, 2017 - FinTech's influence continues to grow In Asia - Asia Times

FinTech's influence continues to grow In Asia Also, seemingly overnight, India's already popular digital wallet company, Paytm, became the payment option of choice for many caught holding the now useless paper notes. In the month that followed, Paytm experienced a surge in downloads, adding over ...

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Context: FinTech, India, paytm, DW, paytm, Paytm Cash Wallet, paytm Payments, paytm App, Digital Wallet, FinTech, India Country Viewport, paytm, Paytm2, ST MM India


Mar 16, 2017 - Fast-growing Boston fintech firm enters biggest market yet: B2B - Boston Business Journal

Fast-growing Boston fintech firm enters biggest market yet: B2B It then expanded into international healthcare transactions at hospitals like Boston Children's and Mass General. B2B payments represent a more sizable market than either of those, one CEO Mike Massaro estimates to be $5 trillion to $6 trillion worldwide.

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Context: FinTech, B2B, Estimates, FinTech, Payments


Mar 16, 2017 - PayThink In-car payments up the 'cool factor' for mobile - PaymentsSource

PayThink In-car payments up the 'cool factor' for mobile MasterCard has partnered with General Motors and IBM to embed its Masterpass mobile payment technology into a new platform called OnStar Go, a car-based navigation, security and communications system. And Jaguar is partnering with Shell to launch a ...

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Context: DataCash Group PLC, MasterCard, Simplify Commerce, Travelex-MasterCard, DC, DT, MP, Travelex-Mastercard Korea, Simplify Commerce, IBM in Region WORLD, IBM, Banknet, MasterPass Brazil, MasterPass Sweden, MasterPass Europe, OTPay, Simplify Commerce, Mobile Payment, Payments, Security, Technology, IBM, Banknet, MasterPass, OTPay, Simplify Commerce


Mar 16, 2017 - Cards, Net banking-related frauds dip 6 per cent to 14824 in 2016 - Deccan Chronicle

Cards, Net banking-related frauds dip 6 per cent to 14824 in 2016 He added the RBI had, in a circular dated June 2, 2016 on Cyber Security Framework in Banks, advised banks to report all unusual cyber security incidents to it within 2-6 hours of detection. The circular states that in cases where the branch is ...

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Context: RBI, Cyber Security, Cyber Security - Detect, Cyber Security - Framework & Standards, Cyber Security - Governance, Cyber Security - Identify, Cyber Security - Protect, Cyber Security - Recover, Cyber Security - Respond, Cyber Security - Risk Assessment, Cyber Security - Security Engineering, Cyber Security - Security Operation, Cyber Security - Security information, event management (SIEM), Cyber Security - Threat Intelligence, Cyber Security, Security


Mar 16, 2017 - m-wallet growth turns a trickle as cash returns to wallets - Daily News & Analysis

m-wallet growth turns a trickle as cash returns to wallets As cash seeps back into the system, the government's cashless vision seems to be slowly fading away with the growth of mobile wallet transactions plummeting from a blistering 125% in December to just 12% in January. The slide corresponds with the spike ...

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Context: MMT, Mobile Wallet


Mar 16, 2017 - Yahoo hack shifting how companies look at cyber security - KGO-TV

Yahoo hack shifting how companies look at cyber security What happened in the Yahoo case prompted a shift in the way companies look at cyber security . (AP Photo/Marcio Jose Sanchez). KGO. by Janine De la Vega. Wednesday, March 15, 2017 06:18PM. SAN JOSE, Calif. (KGO) --. Two Russian intelligence ...

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Context: Yahoo, Cyber Security, Cyber Security - Detect, Cyber Security - Framework & Standards, Cyber Security - Governance, Cyber Security - Identify, Cyber Security - Protect, Cyber Security - Recover, Cyber Security - Respond, Cyber Security - Risk Assessment, Cyber Security - Security Engineering, Cyber Security - Security Operation, Cyber Security - Security information, event management (SIEM), Cyber Security - Threat Intelligence, Yahoo, Cyber Security, Security


Mar 16, 2017 - Someone Wants to Stick a Fork in Bitcoin - Bloomberg

Someone Wants to Stick a Fork in Bitcoin A dispute among the people involved in bitcoin is revealing a paradox of the digital currency: The same resistance to human meddling that drove its popularity may also be its greatest limitation. It seems that the only way to get anything done is to ... This Security Researcher Found the Bug That Knocked Out Bitcoin Unlimited Nasdaq Neither SegWit Nor Bitcoin Unlimited Can Solve Bitcoin's Scalability Problems: Experts CoinTelegraph What to do if Bitcoin Unlimited Causes a Hard Fork? The Merkle CryptoCoinsNews  - CoinDesk  - newsBTC all 17 news articles »

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Context: Bitcoin Foundation, Bitcoin, Currency, Security, Bitcoin


Mar 16, 2017 - Android Gmail App Now Enables Online Payment Via Google Wallet - EconoTimes

Android Gmail App Now Enables Online Payment Via Google Wallet Browser users have been able to conduct online payment or remittance via Gmail and Google Wallet for years. However, with most people conducting their internet activities via mobile these days, it only made sense that Google would want to provide these ... You can now send and request money through the Gmail app using Google Wallet Android Police Gmail app adds Google Wallet money attachments so you can get paid faster Android Central Gmail for Android can now send and receive payments via Google Wallet Tech2 PC Magazine  - Engadget  - TechCrunch  - Google Blog all 129 news articles »

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Context: OP, Google, OP, Google Commerce, Google, Google Wallet UK, Google Philippines, Google Beeba, Google Wallet USA, Google Pony Express, Online Payment, Payments, Remittance, Web, Google


Mar 15, 2017 - Cyber security fuels exponential increase in IT security jobs - iTWire

Cyber security fuels exponential increase in IT security jobs The demand for in-house technology professionals, particularly cyber security specialist, is increasingly prevalent in Australia and globally. As we become more “digital” and move towards cloud-based storage and networks, organisations must rely ...

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Context: AUSTRALIA, Cyber Security, Cyber Security - Detect, Cyber Security - Framework & Standards, Cyber Security - Governance, Cyber Security - Identify, Cyber Security - Protect, Cyber Security - Recover, Cyber Security - Respond, Cyber Security - Risk Assessment, Cyber Security - Security Engineering, Cyber Security - Security Operation, Cyber Security - Security information, event management (SIEM), Cyber Security - Threat Intelligence, DT, Cyber Security, Security, Technology


Mar 15, 2017 - More detail is needed on UK's cyber security plan - Financial Times

SC Magazine UK More detail is needed on UK's cyber security plan Sir, It was pleasing to see the article “A culture shift in the boardroom is required to counter cyber threats” (March 14) from Robert Hannigan, the head of GCHQ, and this crucial area of Britain's security and economy being addressed by those tasked ... CCS launches revised cyber security framework Government Computing Network CyberUK 2017: Establishing the parameters of cyber-security and trust SC Magazine UK Raising cyber security grasp is biggest challenge, says GCHQ chief ComputerWeekly.com Information Age  - Insurance Age  - The New Yorker all 10 news articles »

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Context: Insurance, UK, Cyber Security, Cyber Security - Detect, Cyber Security - Framework & Standards, Cyber Security - Governance, Cyber Security - Identify, Cyber Security - Protect, Cyber Security - Recover, Cyber Security - Respond, Cyber Security - Risk Assessment, Cyber Security - Security Engineering, Cyber Security - Security Operation, Cyber Security - Security information, event management (SIEM), Cyber Security - Threat Intelligence, Insurance, Cyber Security, Economy, Security


Mar 15, 2017 - Cyber security experts warn parents to be smart about 'smart toys' - 10TV

Cyber security experts warn parents to be smart about 'smart toys' 'Smart toys' all have processors that transmit and receive data. Cyber security experts warn toys that send out information on the internet can also let hackers into your home. Columbus computer guru, Matt Curtin, questions why parents are letting toy ...

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Context: Cyber Security, Cyber Security - Detect, Cyber Security - Framework & Standards, Cyber Security - Governance, Cyber Security - Identify, Cyber Security - Protect, Cyber Security - Recover, Cyber Security - Respond, Cyber Security - Risk Assessment, Cyber Security - Security Engineering, Cyber Security - Security Operation, Cyber Security - Security information, event management (SIEM), Cyber Security - Threat Intelligence, Cyber Security, Security, Web


Mar 15, 2017 - Starbucks brings mobile payment to India - Deccan Chronicle

Starbucks brings mobile payment to India This move makes Tata Starbucks the first major retailer in India to offer customers a mobile payment option linked to a program and further expands Starbucks robust global digital ecosystem. The app is available for download on iPhone and Android devices. Starbucks Introduces Mobile Payment Through The Starbucks India Mobile App Nationwide HungryForever (blog) Starbucks launches app; allows customers to pay via mobile Outlook India all 5 news articles »

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Context: India, Starbucks, DC, MP, Starbucks, Mobile Payment, India Country Viewport, ST MM India


Mar 14, 2017 - African telecom giant MTN to cede 35 percent stakes in Ghanaian operations - News Ghana

African telecom giant MTN to cede 35 percent stakes in Ghanaian operations Africa's leading mobile telephone operator MTN will cede 35 percent of its Ghana operations for local ownership, Chief Executive Officer for MTN Ghana Ebenezer Asante announced on Monday. According to him, the prospectus for the proposed public offer ... and more »

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Context: GHANA, Telecom, AFRICA, MEA, MTN GHANA, Operations


Mar 06, 2017 - Digital services 'increasingly crucial' for MTN - ITWeb

Digital services 'increasingly crucial' for MTN The number of MTN Mobile Money registered customers grew by 18% to 41 million in 2016, supported by a strong performance from MTN Ghana and MTN Benin. The number of 30-day active customers increased by 55% to 15.4 million across 15 countries ...

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Context: BENIN, GHANA, DS, MM, MW, MTN BENIN, MTN GHANA, MTN Mobile Money REGION, MTN Top Up Afghanistan, Visa MM Kenya, Visa MM, Mobile Money, Aircel ICICI Mobile Money, MTN Mobile Money, Visa MM


Mar 06, 2017 - Standards Australia releases Roadmap for Blockchain Standards, identifying important use cases and prioritising issues - OpenGov Asia

Standards Australia releases Roadmap for Blockchain Standards, identifying important use cases and prioritising issues Related Research & Reports. Who Sets Security Standards for the IoT? [OG Partner] · Key capabilities of a public sector service virtualisation solution · Using social media with crowd control: UK Metropolitan Police ... and more »

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Context: AUSTRALIA, UK, Blockchain, Blockchain, Blockchain, Security, Blockchain


Mar 06, 2017 - Budget 2017: Hammond urged to support digital skills, cyber security and technical training - The Commentator

Budget 2017: Hammond urged to support digital skills, cyber security and technical training The Chancellor Philip Hammond has received praise for proposals to introduce new technical qualifications to support British businesses ahead of Wednesday's budget. Early briefings in the Sunday papers have revealed a raft of policy announcements ...

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Context: Cyber Security, Cyber Security - Detect, Cyber Security - Framework & Standards, Cyber Security - Governance, Cyber Security - Identify, Cyber Security - Protect, Cyber Security - Recover, Cyber Security - Respond, Cyber Security - Risk Assessment, Cyber Security - Security Engineering, Cyber Security - Security Operation, Cyber Security - Security information, event management (SIEM), Cyber Security - Threat Intelligence, Cyber Security, Security


Mar 06, 2017 - Spencer's Retail partners with Airtel Payments Bank for digital payment - Telecom Lead (registration) (blog)

Spencer's Retail partners with Airtel Payments Bank for digital payment Airtel Payments Bank said customers of Spencer's Retail can make digital payments at their retail shops across 35 towns in India. Airtel Payments Bank's national digital payments ecosystem already has over one million merchants. ALSO READ: Live news ... Now Pay at Any Spencer's Retail Store in India Using Airtel Payments Bank TelecomTalk (blog) all 2 news articles »

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Context: India, Telecom, Airtel, DP, Payments, Registration, Retail, India Country Viewport, ST MM India


More news ...

  • Digital Money
    Digital Money

    The Digital Money domain has been described by Shift Thought™ as a way to understand the ecosystem, products, services and infrastructure involved in the digitisation and transfer of value.

    • Digital Banking
      Digital Banking

      Digital Banking (DB) is the head we use to describe a range of alternative channels offered by banks to supplement branch services.

      • Branchless Banking
        Branchless Banking

        Branchless Banking (BB) services is the category we use to describe services where banks/Fis leverage non-banks and technology to provide account opening, cash services and alternate financial services.

      • Mobile banking
        Mobile banking

        Mobile Banking refers to the category of services that offer consumers or businesses the ability to utilise a mobile device to conduct a range of banking services.

        • Alerts and Notifications
          Alerts and Notifications

          Alerts and Notifications (Alerts) is the category under which we analyse services involving the provision of notifications regarding account activity.

        • Remote deposit capture
          Remote deposit capture

          Remote Deposit refers to the ability to deposit a check into a bank account from a remote location, such as an office or home, without having to physically deliver the check to the bank. This is typically accomplished by scanning a digital image of a

      • Online banking
        Online banking

        The Online Banking category includes those services that offer the ability to use the web to conduct a range of banking transactions.

    • Digital Networks
      Digital Networks

      The Digital Networks domain has been described by Shift Thought™ as a way to understand the networks through which cash is digitised or materialised within the context of digitisation of value.

      • ATM/ACM services
        ATM/ACM services

        ATM/ACM services (ATM) is the category we use to refer to functionality offered by initiatives that allows consumers to withdraw or deposit cash at self-service centres.

      • Cash-In and Cash-Out services
        Cash-In and Cash-Out services

        The Cash-In and Cash-Out services (CICO) category is used by us to describe methods such as agent networks, ATM and Kiosks that facilitate cash transfer into or out of digital wallets, and provide customer interface services.

      • Point of Sale service
        Point of Sale service

        Point of Sale ServiceThe Point of Sale(POS) service includes payment services that allow for payment for goods and services in-person, at locations including stores, post offices and self-service points.

    • Digital Payment
      Digital Payment

      The Digital Payments domain has been described by Shift Thought™ as a way to understand the different ways in which monetary value may be transferred between persons, businesses, government and other entities.

      • Business to Business Payments
        Business to Business Payments

        Business to Business Payments (B2B) is the category we use to describe payments and money transfer services offered to businesses.

      • Business to Person Payments
        Business to Person Payments

        Business to Person Payments (B2P) is the category we use to describe functionality money transfers for the purposes of payroll, wages and other company payments to individuals.

      • Bill Payment
        Bill Payment

        The Bill Payment (BP) service is the category that covers functionality for consumers to pay a bill directly to a biller, that may be a communications, utility or other provider.

        • Dish TV Recharge
          Dish TV Recharge

          The Dish TV Recharge (DTV) category discusses services involving payment for or recharge of Dish TV.

      • SME Services
        SME Services

        This category refers to Business Solutions for the Small & Medium Enterprise (SME) segment.

        • SME Domestic Services
          SME Domestic Services

          This category refers to Domestic Business Solutions for the Small & Medium Enterprise (SME) segment.

        • SME Foreign Exchange Services
          SME Foreign Exchange Services

          Online Foreign Exchange solutions for MSME (Micro, Small and Medium Enterprises) Businesses.

        • SME International Services
          SME International Services

          This category refers to International Business Solutions for the Small & Medium Enterprise (SME) segment.

        • Mobile POS
          Mobile POS

          Mobile Point of Sale (mPOS) refers to the use of the mobile device for accepting payments.

        • Merchant payment acceptance
          Merchant payment acceptance

          This category refers to services that offer consumers and merchants the ability to accept payments.

      • Digital Content
        Digital Content

        Digital Content (DC) is the category under which we classify consumer payements related to purchase of digital content and services. This includes purchase of games, music downloads and other typically small value payments from consumers to companies.

      • Earnings
        Earnings

        The earnings, pension and wages (EARN) category discusses services involving reciept of money related to personal compensation.

      • Government to Consumer
        Government to Consumer

        The Government to Consumer (G2P) category includes transfers such as benefits or tax refunds from Government to individuals.

      • High Value Payment
        High Value Payment

        High Value Payments (HVP) typically have different requirements, as opposed to micro-payments. New payment services and innovations address different ranges of value transfer.

      • Instant Payment
        Instant Payment

        The Instant Payment (IP) category is used by us to analyse payment transactions with the fastest payout. These are real-time transfers that generally make the money available within minutes.

      • Local Payment Service
        Local Payment Service

        This category discusses local payment services. Includes low value payment for example using contactless cards.

      • Low Value Payment
        Low Value Payment

        Regular payments for low-value services are now being managed through technologies such as contactless payments, mobile NFC payments and other methods.

      • Mobile Payment
        Mobile Payment

        Mobile payment refers to the use of a mobile device as a channel to initiate payments. This includes both local and remote payments, as well as the use of the mobile device to accept payment (mPOS).

        • Near Field Communication
          Near Field Communication

          This category describes payment services involving Near Field Communications (NFC)

        • Pay by mobile
          Pay by mobile

          Pay by mobile bill or prepaid credit for a range of goods and services

        • Premium Rate Services
          Premium Rate Services

          Premium rate services (PRS) are offered by a number of Level 1 and Level 2 providers, working with mobile network operators.

        • Remote Mobile Payment
          Remote Mobile Payment

          Remote mobile payments refers to services that allow consumers to make payments remotely using a mobile device.

      • Online Payment
        Online Payment

        This category describes payment services that allow for purchases or personal payments over the internet.

        • Online dating, social and entertainment services
          Online dating, social and entertainment services

          The Online Dating category includes those services that allow for online payment for dating, social and entertainment services.

        • Online gambling
          Online gambling

          The Online Gambling category includes those services that allow for online value transfer related to lottery, betting and gambling.

      • Payment Systems
        Payment Systems

        This category refers to payment systems and platforms.

      • Trade or Merchant Payments
        Trade or Merchant Payments

        Trade or Merchant Payments relate to businesses as opposed to consumer transactions.

    • Digital Services
      Digital Services

      The Digital Services domain has been described by Shift Thought™ as a way to understand the different kinds of products and services that consumers and businesses are offered within the context of Digital Money.

      • Anonymity in Payments
        Anonymity in Payments

        Anonymity (Anon) is used by us to track the functionality supported by new services that allow payment without revealing details of buyer or seller.

      • Airtime Transfer
        Airtime Transfer

        Airtime Transfer (AT) is the category under which we analyse services relating to airtime topup and transfer.

        • Domestic Airtime Transfer
          Domestic Airtime Transfer

          Domestic Airtime Transfer (DAT) includes topup of prepaid phones, whether for own use or that of friends and family.

        • International Airtime Transfer
          International Airtime Transfer

          International Airtime Transfer (IAT) is the category we use to analyse services relating to international topup or transfer of prepaid mobile airtime.

      • Insurance services
        Insurance services

        Insurance services is a category under which we analyse insurance services of all kinds, offered within the context of digital money initiatives.

      • Microfinance
        Microfinance

        MFI refers to those microfinance services offered by a provider and may include loans to consumers or small businesses.

      • Mobile Health

        Mobile health refers to those services offered within the context of digital money initiatives.

      • Money Transfer
        Money Transfer

        This category refers to Money Transfer Services. This includes domestic, regional and international money transfer across all channels.

        • Aid and charitable donations
          Aid and charitable donations

          Aid and charitable donations (Aid) category covers money transfers to individuals for the purpose of providing aid.

        • Bank-Account based money transfer services
          Bank-Account based money transfer services

          Bank-Account based money transfer services (BAB) are offered by money transfer operator in partnership with banks.

        • Direct To Bank
          Direct To Bank

          A sender provides a receivers bank account and routing number to a money transfer agent. Funds are generally available in receiver's bank account within 3-5 bank business days.

        • Domestic Money Transfer
          Domestic Money Transfer

          The Domestic Money Transfer (DMT) category relates to person-to-person (P2P) money transfer within a country.

        • Cash-on-delivery/ Home Delivery
          Cash-on-delivery/ Home Delivery

          Cash-on-delivery/ Home Delivery (HOMEDL) category is used by use in order to analyse services where money transfer occurs at a consumer home.

        • International Money Transfer
          International Money Transfer

          This category refers to the provision of international money transfer services.

        • Mobile Money Transfer
          Mobile Money Transfer

          The Mobile Money Transfer (MMT) category has been described by Shift Thought™ to include personal money transfer transactions initiated using a mobile device.

          • Cash to Mobile Wallet
            Cash to Mobile Wallet

            The Cash to Mobile Wallet (C2M) category refers to the various services provided for loading Cash onto Digital Money wallets.

          • Mobile Receive
            Mobile Receive

            This category refers to the provision of mobile money transfer services.

          • Mobile Send
            Mobile Send

            This category refers to the provision of money transfer services where the transaction for sending money can be initiated using the mobile device.

        • Next Day Service
          Next Day Service

          Next Day is a service offered by money transfer operators where money sent before 12:00 am in the local time zone is available by 7:00 am the next day, in the receiver time zone.

        • Person to Business
          Person to Business

          The Person to Business (P2B) category includes transfers from individuals to businesses.

        • Person to Government
          Person  to Government

          The Person to Government (P2G) category includes transfers from consumers to Government, such as tax payment.

        • Quick Cash
          Quick Cash

          Cash Payout to Consumers. Allows companies to make payments to their consumers or employees. The transaction is initiated by the sending company and receipt of the transaction is performed in the same way as a regular "will call" money transfer recei

      • Offers
        Offers

        This category discusses services involving provision of discounts and loyalty.

      • Other Products

        This category describes other services related to Digital Money.

      • P2P Lending/ Crowdfunding
        P2P Lending/ Crowdfunding

        P2P Lending refers to lending activities that leverage a community of investors and lenders. We include Crowdfunding under this head.

      • Saving
        Saving

        Saving services refers to the ability for new digital money innovative services to offer consumers a way to securely save their money.

      • Social commerce
        Social commerce

        Social Payments refers to the ability to offer consumers a way to make payments in the context of their social networking experience.

      • Transport
        Transport

        This category refers to the use of services to pay for transport, transit, parking, ticketing and other charges associated with travel.

    • Digital Technology
      Digital Technology

      The Digital Technology domain has been described by Shift Thought™ as a way to understand the technologies that form the basis of the products and services within the Digital Money domain.

      • Card services
        Card services

        Card services (Card) refer to payment card services that support digital money initiatives.

      • Cardless ATM services
        Cardless ATM services

        The Cardless ATM services (CardlessATM) describes innovations in ATM Cash Withdrawal such as cardless instant cash.

      • Credit Scoring services
        Credit Scoring services

        Credit Scoring services (CreditScore) is the category we use to analyse functionality relating to non-traditional credit scores that are built around the new digital money services.

      • Hub
        Hub

        The hub service (Hub) category is defined by Shift Thought™ to cover infrastructure and interfaces used to facilitate cash transfer into or out of digital wallets, exchange conversion, regulatory checks and the movement of money.

      • Payment Service Provision
        Payment Service Provision

        This category describes the provision of intermediary functions relating to payment services.

      • Trusted Service Manager
        Trusted Service Manager

        A trusted service manager (TSM) plays a role within an NFC ecosystem by acting as a neutral broker.

      • White Label
        White Label

        This category refers to B2B services that support integration and build of products and services by other brands.

    • Digital Wallets
      Digital Wallets

      The Digital Wallet domain has been described by Shift Thought™ as a means of understanding the whole range of stored value products including the provision of e-money, mobile wallets and e-wallets.

      • E-Wallet
        E-Wallet

        The E-Wallet domain has been described by Shift Thought™ as a means of understanding the storage of monetary value across a range of technologies that include server and card-based services.

      • Mobile money
        Mobile money

        The Mobile Money service category described by Shift Thought™ refers to financial services that provide a stored value account where the customer relationship is not with a bank.

      • Mobile wallet
        Mobile wallet

        Mobile Wallet service category refers to the use of an account and stored value or e-money associated with a mobile subscriber.

      • Prepaid Card
        Prepaid Card

        The Prepaid Card category discusses services that involve prepaid cards. Depending on the regulatory environment, these may be issued by non-banks, or may be co-branded.

      • Virtual Currency
        Virtual Currency

        Virtual currency differs from electronic money as the currency has no physical counterpart with legal tender status. The schemes, of which Bitcoin is the most well known are generally based on a peer-to-peer network.

  • Knowledge Catalog
    Knowledge Catalog

    The Knowledge Base catalogue

  • All Topics
    All Topics

    Knowledge relating to Digital Money has been classified under the broad categories described here. This is the main heading under which all others topics are described. Each topic has a parent topic that ultimately connects here.

    • Financial Inclusion/ How consumers access financial services
      Financial Inclusion/ How consumers access financial services

      The Financial Inclusion/Access Topic includes knowledge related to the kind of access that consumers and businesses have to channels through which they can access financial services.

      • Micro Finance Institute
        Micro Finance Institute

        Micro Finance involves the provision of financial services to micro-entrepreneurs and small businesses.

    • Banking
      Banking

      This topic relates to banking or financial services under which we pay special attention to innovative services that have recently emerged. These typically leverage new technology and channels available to consumers.

      • Remote Deposit Capture
        Remote Deposit Capture

        Remote Deposit refers to the ability to deposit a check into a bank account from a remote location, such as an office or home, without having to physically deliver the check to the bank. This is typically accomplished by scanning a digital image of a

    • Complexity
      Complexity

      The complexity topic discusses the implications of scale, interconnectedness, dependancies and dynamism on parts of the ecosystem.

    • Regulatory compliance
      Regulatory compliance

      Regulatory compliance describes the goal that corporations or public agencies aspire to achieve in their efforts to ensure that personnel are aware of and take steps to comply with relevant laws and regulations.

      • Anti-Money Laundering
        Anti-Money Laundering

        Anti-money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. Anti-money laund

        • Information Requests
          Information Requests

          The Information Requests topic discusses the 314(a) requests received from FinCEN.

        • Registration Requirements
          Registration Requirements

          The registration requirements topic discusses issues relating to processes for consumers to subscribe to digital money services.

      • Customer Due Diligence (CDD)
        Customer Due Diligence (CDD)

        Customer due diligence measures ensure that businesses know who their clients are, and do not accept clients outside of their normal risk tolerance, or whose business they do not fully understand.

      • Combating Financing of Terrorism (CFT)
        Combating Financing of Terrorism (CFT)

        The Combating Financing of Terrorism (CFT) topic covers legislation and topics related to countering the financing of terrorism.

      • Corruption
        Corruption

        The Foreign Corrupt Practices Act (FCPA) was enacted to prevent the bribery of foreign government officials for commercial advantage.

      • Know Your Customer(KYC)
        Know Your Customer(KYC)

        Know Your Customer, or KYC, refers to the regulatory compliance mandate imposed on financial service providers to implement a Customer Identification Programme and perform due diligence checks before doing business with a person or entity.

      • Politically Exposed Person (PEP)
        Politically Exposed Person (PEP)

        Politically Exposed Person (PEP) is the term used to describe someone who has been entrusted with a prominent public function, or an individual who is closely related to such a person.

    • Foreign Exchange
      Foreign Exchange

      This describes Currency and Foreign Exchange related topics

      • Cryptocurrency
        Cryptocurrency

        Cryptocurrency is the term used to refer to virtual currencies such as Bitcoin.

      • Inbound Or Payout
        Inbound Or Payout

        The Inbound topic discusses specific issues, rules and restrictions relating to inbound or Payout transactions.

      • Intra Remittances
        Intra Remittances

        The Intra Remittances topic discusses issues, rules and restrictions relating to domestic money transfer transactions.

      • Outbound Remittance
        Outbound Remittance

        The Outbound Remittances topic discusses specific rules and restrictions relating to outbound remittances or Send transactions.

      • Specific Corridor
        Specific Corridor

        This topic discusses the specific corridor related rules regarding currencies.

    • Economy and Economic Outlook
      Economy and Economic Outlook

      As market development and business development activities involve a good understanding of the market conditions in each country, this topic on Economy pulls together knowledge related to Economic Outlook.

    • Estimates
      Estimates

      The estimates topic pulls together knowledge required for market development and business development activities involving business planning and forecasts.

    • FinTech
      FinTech

      FinTech is a recent term applied to disruptive financial innovation, and is similar to the term "digital money" used by Shift Thought for some years now.

    • Investment
      Investment

      This topic issues that are of importance to investors and venture capitalists interested in investing in Digital Money Initiatives.

    • Legal
      Legal

      This topic discusses legal issues relating to digital money.

      • Competition
        Competition

        This topic covers issues relating to Competition rules and regulations that may apply to digital money services.

        • Over-the-top Players
          Over-the-top Players

          The term OTT relates to Over-the-top players that offer services that run on the rails of traditional players.

      • Corporate Structure
        Corporate Structure

        The Corporate Structure topic covers specific legal rules and restrictions relating the way in which businesses structure themselves in order to offer digital money services.

      • Exclusive Agency
        Exclusive Agency

        This describes the rules regarding exclusivity. Exclusivity is a contract term in which one party grants another party sole rights with regard to a particular business function.

      • Licensing
        Licensing

        The Licensing topic discusses issues, rules and restrictions relating to licensing requirements for digital money services.

      • Patents covering alternate payments
        Patents covering alternate payments

        This relates to patents filed in the USA, Europe or Internationally, in the domain of digital money services that include alternative payments, mobile payments, digital wallets and more.

      • Registration
        Registration

        The registration topic discusses issues relating to processes for consumers to subscribe to digital money services.

    • Links to further information
      Links to further information

      Links to further information provided by the player or others online

    • Marketing
      Marketing

      This describes marketing related topics involved in the launch and ongoing support of digital money services.

      • Consumer Protection
        Consumer Protection

        Consumer rights are the rights given to a "consumer" to protect him/her from being cheated by salesman/manufacturer. Consumer protection laws are designed to ensure fair trade competition and the free flow of truthful information in the marketplace.

      • Consumer Market
        Consumer Market

        This describes the issues that relate to direct consumer markets, as opposed to business markets.

      • Data Privacy
        Data Privacy

        This topic covers Data Protection and Data Privacy as regards consumer data that businesses process as a part of marketing or delivering consumer services.

      • Loyalty
        Loyalty

        This describes Loyalty related topics

      • Migration
        Migration

        Migration relates to the movement of people between countries for the purpose of living in a country other than that of their birth.

      • Pricing
        Pricing

        This topic discusses rules relating to pricing within the marketing of products and services.

      • Privacy
        Privacy

        This relates to personal privacy rules that are must be adhered to in the provision of services to consumers.

      • Remittance
        Remittance

        This relates to movement of money because of the need to send money back home. A remittance is a transfer of money typically by a foreign worker back to their home country.

      • MSME Market
        MSME Market

        This topic discusses the MSME (Micro, Small and Medium Enterprises) market which is one of the fastest growing segments for digital money services.

      • Transparency
        Transparency

        The Transparency topic discusses issues and rules relating to pricing transparency within the marketing of products and services.

    • Products and Services
      Products and Services

      This topic discusses the products and services that are involved in the provision of digital money services.

      • Bank Account Based Money Transfer
        Bank Account Based Money Transfer

        This topic discusses bank-account based money transfer. This includes a variety of services that leverages a bank account on the send or receive side of a money transfer transaction.

      • Mobile Health
        Mobile Health

        Mobile Health uses ownership of the mobile to extend healthcare services.

      • Mobile Money Transfer
        Mobile Money Transfer

        This topic covers a wide range of innovative services where a mobile device is used as a channel to provide services to market segments that include previously banked users, but also those thay may be unbanked or underbanked.

      • Use of Agents/ Agent Network
        Use of Agents/ Agent Network

        An agent network is one of the most important requirements for the success of digital money, as it is the means for digitising cash.

      • Prepaid Card/ Stored-value card
        Prepaid Card/ Stored-value card

        This topic discusses issues, rules and regulations related to storage of value on cards for the purpose of conveniently paying for transport, digital content, money transfer and other services.

    • Operations
      Operations

      Operations is the term utilised to describe products and services, channels, class of trade and other concepts related to the operational requirements of digital money services.

      • Cash-in/cash-out
        Cash-in/cash-out

        The CICO (Cash-in/ Cash-out) topic describes issues regarding the ways in which consumers are allowed to deposit and withdraw cash.

      • Fraud
        Fraud

        Fraud can be committed through many media, including mail, wire, phone, and the Internet (computer crime and Internet fraud). The international dimensions of the web and ease with which users can hide their location, the difficulty of checking identi

      • Identity
        Identity

        This relates to identity and user identification that is the foundational building block for the development of digital money services.

      • Payout Requirements
        Payout Requirements

        In the context of digital money, payout restrictions and requirements must be understood from the perspective of compliance.

      • Recordkeeping
        Recordkeeping

        Recordkeeping requirements relate to issues, rules and regulations relating to the maintenance of records relating to digital money transactions.

      • Security
        Security

        This relates to the Security considerations for Digital Money

        • Cyber Security
          Cyber Security

          Cyber security relates to protection of systems, networks and data in cyberspace and in this topic we focus on connections with Digital Money, including e-commerce and e-security across mobile, web and other channels.

        • IoT Security
          IoT Security

          IoT security relates to protection of devices, systems, networks and data related to the Internet of Things.

        • Mobile Security
          Mobile Security

          This relates to the Security considerations for mobile phone devices especially with respect to Digital Money, including e-commerce and e-security.

          • Authentication
            Authentication

            Authentication relates to the process of identifying an individual, usually based on user name and password. Authentication merely ensures an individual is who they claim to be and says nothing about the access rights, as that is managed by Authorisation.

          • Biometrics
            Biometrics

            This relates to the Biometrics as an authentication method for Digital Money.

      • Tax
        Tax

        This topic discusses the tax related requirements for the various lines of business.

    • Payments
      Payments

      The Payments Topic includes knowledge related to a variety of services such as mobile payments, online payments, bill payments and more.

      • Bill Payment
        Bill Payment

        Bill Payment services are now offered as part of the alternative financial services that are emerging in different parts of the world.

      • Branchless Banking
        Branchless Banking

        These are initiative to utilise new technology and non-banks in order to extend the reach and provide banking services to the unbanked and underbanked.

      • Transactions Involving Businesses
        Transactions Involving Businesses

        Often financial services offered distinguish between the intended use, as relates to consumers and businesses. This topic covers specific rules and restrictions relating to business transactions.

      • Electronic money (E-money)
        Electronic money (E-money)

        The Electronic money (e-money) topic discusses issues related to electronic value stored in an account and exchangeable against real money.

      • Government Payment
        Government Payment

        The Government Payment topic discusses innovations in the way the government pays out money including benefits, agricultural support and other assistance to the public.

      • Mobile Banking
        Mobile Banking

        Mobile Banking refers to the ability to use a mobile device to conduct a range of banking services.

      • Mobile Money
        Mobile Money

        Mobile money uses ownership of the mobile to extend financial access

      • Mobile Payment
        Mobile Payment

        Mobile payment refers to the use of a mobile device as a channel to initiate payments. This includes both local and remote payments, as well as the use of the mobile device to accept payment (mPOS).

      • Money Transfer
        Money Transfer

        Money transfer refers to the movement of money from one person or institution to another.

      • Near field communication (NFC)
        Near field communication (NFC)

        Near field communication (NFC) allows for simplified transactions, data exchange, and wireless connections between two devices in close proximity to each other, usually by no more than a few centimeters.

      • New Payment Methods
        New Payment Methods

        New/Alternative Payments refers to payment methods that are used as an alternative to cash or card. Most alternative payment methods address a domestic economy or have been specifically developed for electronic commerce and the payment systems are ge

      • Online Payment
        Online Payment

        The Online Payment topic discusses issues relating to the provision of payment services over the internet.

      • Rules Regarding Payment Delivery Time
        Rules Regarding Payment Delivery Time

        This topic discusses requirements related to moving the money out of the system within a certain period of time, in the context of delivery of money transfer services.

      • Payment Systems
        Payment Systems

        Payment systems refers to operational networks, governed by laws, rules and standards, that link bank accounts and provides the functionality for monetary exchange.

      • Quick Response Code (QR Code)
        Quick Response Code (QR Code)

        A Quick Response Code, commonly known as a QR Code is a type of matrix barcode or two-dimensional barcode.

    • Players/ Organisations
      Players/ Organisations

      The term "Player" has been used to refer to organisations of all kinds that are involved in the digital money ecosystem.

      • Bank
        Bank

        This topic relates to Banks or financial services institutions involved in the ecosystem.

      • Mobile network operator (MNO)
        Mobile network operator (MNO)

        A mobile network operator (MNO) is a provider of wireless communications services that owns or controls the elements necessary to sell and deliver services to an end user.

      • Post
        Post

        This describes issues that relate to the role played by postal institutions in the provision of digital money services.

      • Retail
        Retail

        The Retail topic discusses issues and rules relating to the Retail Players involved in the digital money ecosystem.

      • Scheme
        Scheme

        This discusses topics relating to Schemes or Card Providers involved in the ecosystem.

      • Vendor/ Service provider
        Vendor/ Service provider

        This topic discusses issues that relate to vendors and service providers involved in the ecosystem.

    • Regulatory Environment
      Regulatory Environment

      The enabling and regulatory environment consists of the bank and non-bank regulations and policies that influence the provision of remittance services and the opportunity to cross-sell other services.

      • Authorised Entities
        Authorised Entities

        Authorised Entities refers to the types of entities that are allowed by regulators to provide specific services, after obtaining the required licenses and approval.

      • Non-banks
        Non-banks

        The term "non-banks" is used to describe players involved in the provision of digital money who are not banks or financial institutions.

      • Recent Or Expected Changes To Regulations
        Recent Or Expected Changes To Regulations

        Discusses expected or likely changes to regulations. This is very important for a number of areas of our business including Product and Strategy as well as Operations.

      • Restrictions & Limits
        Restrictions & Limits

        This relates to legal restrictions and limitations on specific business.

    • Segment
      Segment

      This topic discusses the various market segments for digital money services.

    • Technology
      Technology

      Technology has a key role to play in enabling innovations in digital money services.

      • Host Card Emulation (HCE)
        Host Card Emulation (HCE)

        This relates to the ability to control the NFC chip through an application running within the Host Operating System.

      • Mobile
        Mobile

        This relates to special considerations for use of Mobile as a channel of access for digital money services.

        • Handsets
          Handsets

          It is critically important that services launched are accessible to the target market for whom they are meant.

      • Tokenization
        Tokenization

        This relates to the use of a surrogate instead of a card number.

      • Web
        Web

        This relates to special considerations for use of the internet or web as a channel for extending digital money services.

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