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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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


February 8, 2016 - Happy Chinese New Year 2016

  We wish our Chinese friends a very Happy Chinese New Year! May the Year of the Monkey hold luck and good fortune for you and your family. Photo credit: Dennis Jarvis on Flickr


January 20, 2016 - Amazon’s new Subscribe & Save Offer: Could prove sticky?

  As I report that Amazon has been making further inroads into the UK online shopping market, I realise it is probably an under-statement. As it was our go-to provider long before the holiday season it is no wonder we … Continue reading


January 3, 2016 - Global Payments – Looking back, looking forwards

  Celebrating our achievements, strategizing for the future It is easy to find fault in company launches, but as a former product manager I fully understand the courage it takes to even get to the market in the face of … Continue reading


December 25, 2015 - Warm festive greetings

  Whatever is beautiful, meaningful and brings you happiness – May it be yours this holiday season and through the coming year   Merry Christmas and a Happy New Year  


November 26, 2015 - Happy Thanksgiving

  The Shift Thought team sends our best wishes to all our American friends and their families. Happy Thanksgiving 2015! Attribution: Jean Leon Gerome Ferris [Public domain or Public domain], via Wikimedia Commons


November 9, 2015 - Bridging the Digital Divide between Banks & Micro, Small and Medium Enterprises

  In today’s guest post Sonum Puri of Accenture shares her thoughts on the opportunity in the MSME sector in developing countries and the gap in servicing their needs, reflecting on further work required for financial institutions to address these … Continue reading


October 9, 2015 - Addressing the mysteries of the Pyramid through mobile financial services

Pyramids have fascinated civilizations for centuries, with the Great Pyramid of Khufu in Egypt today remaining the only one of the Seven Wonders of the Ancient World. While the Egyptian pyramids are most famous, Nigeria, Greece, Spain, India, China, Indonesia … Continue reading


September 8, 2015 - Building an agent network for a direct-to-bank led strategy for remittances to Africa

  In this exclusive interview with Charmaine Oak of Shift Thought, Samish Kumar, CEO of cross-border payments company Transfast, shares about his vision and the recent expansion of Transfast in building a network in 23 countries across Africa. Kumar discusses … Continue reading


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Aug 18, 2016 - Alipay Strengthens European Drive With Ingenico Alliance - TechWeekEurope UK

Alipay Strengthens European Drive With Ingenico Alliance “It will allow Chinese tourists in Europe to use the Alipay App the same way as they are used to back home in China, where Alipay has evolved from a digital wallet to a lifestyle enabler that features the convenient booking of taxis and hotels, the ... and more »

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Context: China, UK, SWBAlliance, Ingenico, Tunz, DW, Tunz, Ingenico, Alipay, Alipay China, Alipay Wallet, Yu'E Bao, Digital Wallet, China Country Viewport, Alipay


Aug 18, 2016 - ICICI Bank introduces 'iMobile SmartKeys', Asia's first payment service using smartphone keyboard - India.com

ICICI Bank introduces 'iMobile SmartKeys', Asia's first payment service using smartphone keyboard It also has a slew of solutions for peer-to-peer payments including those on social profiles like WhatsApp, email, phone contacts and Near Field Communication (NFC) technology. In a short span of time, 'Pockets' has over four million downloads; over 75 ... and more »

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Context: ICICI BANK, India, NFC, DT, NFC, ICICI BANK, ICICI BANK Singapore, WhatsApp, Pockets, Mobile, NFC Topic, Payments, Technology, WhatsApp, India Country Viewport, Pockets, ST MM India


Aug 18, 2016 - Several mobile wallets announce major updates - Business Insider UK

Several mobile wallets announce major updates QuickPass, China UnionPay's HCE-based mobile wallet for Android users entered the North American market this week when it launched in Canada on Tuesday. The wallet, which allows UnionPay customers to spend contactlessly, will now be accepted at a ... and more »

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Context: CANADA, China, UK, CUP, MMT, NORTH AMERICA, AmEx HCE Croatia, China Unionpay FS, China Unionpay Intel, UnionPay Online Payments, HCE, Mobile Wallet, China Country Viewport, AmEx HCE Croatia, China Unionpay FS


Aug 18, 2016 - UK digital bank Mondo lays out plan to get full banking license - Business Insider UK

UK digital bank Mondo lays out plan to get full banking license The bank can now build connections to payments networks including MasterCard, Faster Payments (for instant payments ), and Bacs (to enable direct debits and standing orders). Upgrading its Android app. Much of Mondo's attention so far has been on its ...

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Context: UK, Bacs, DataCash Group PLC, MasterCard, Simplify Commerce, Travelex-MasterCard, Travelex-Mastercard Korea, Bacs UK, Simplify Commerce, Banknet, Faster Payments Service, MasterPass Brazil, MasterPass Sweden, MasterPass Europe, Simplify Commerce, Payments, Banknet, MasterPass, Simplify Commerce, VocaLink MCG


Aug 18, 2016 - Russia gets its first bitcoin exchange as confusion reigns over local attempts to ban cryptocurrencies - SiliconANGLE (blog)

Russia gets its first bitcoin exchange as confusion reigns over local attempts to ban cryptocurrencies Russia has joined the bitcoin age with the country seeing the opening of its first bitcoin exchange despite ongoing attempts in the country to ban the trade of cryptocurrencies. The exchange, run by a group well-known as BTC24pro.com on LocalBitcoins ...

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Context: RUSSIA, Bitcoin Foundation, Bitcoin, Bitcoin


Aug 18, 2016 - PayPal patches 2FA portal bug - The Register

PayPal patches 2FA portal bug PayPal has patched a two-factor authentication (2FA) bug that could have let an attacker bypass its login processes. Turned up by Vulnerability Labs' Shawar Khan, the problem existed in how PayPal's API implemented the “ PayPal preview” portal. The good ...

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Context: PayPal, PayPal, Paypal Payment Code, Paypal Access, Paypal B2B Payment, Paypal One Touch, PayPal DT CB, Paypal Mobile SDK, Paypal Russia, Paypal Saudi Arabia, Paypal Wallet, Authentication, Zong, Paypal, PayPal DT CB


Aug 18, 2016 - Ignoring 'Instant P-to-P' Risks Defeat in Corporate Payments - PaymentsSource

Ignoring 'Instant P-to-P' Risks Defeat in Corporate Payments Disbursement via instant push payment to any bank account, prepaid card, charge card or digital wallet will save companies millions of dollars a year and provide their customers and employees with the money they're owed immediately. What's more, this ... and more »

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Context: DW, PC, Digital Wallet, Payments, Prepaid


Aug 18, 2016 - India's Fintech Startups Will Cause A Cashless 'Payment Revolution' By 2023 - Forbes

India's Fintech Startups Will Cause A Cashless 'Payment Revolution' By 2023 Growth of fintech startups: One97, which operates India's largest digital wallet , Paytm, with investments from China's Alibaba, is currently valued at $4 billion. According to the data from research firm VCCEdge, fintech firms have received an all-time ...

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Context: FinTech, China, India, Alibaba, One97, paytm, DW, One97, paytm, Alibaba, Ant, Paytm Cash Wallet, paytm Payments, paytm App, Digital Wallet, FinTech, China Country Viewport, India Country Viewport, paytm, Paytm2, ST MM India


Aug 18, 2016 - Visa is planning a mobile payments push into Nigeria - Business Insider UK

Visa is planning a mobile payments push into Nigeria Mobile money is primarily used by and popular among mobile phone users in developing countries that don't have easy access to a bank account. Nigeria is one such market — just 44% of adults had a bank account in 2014, but around 94% had a mobile ... and more »

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Context: Nigeria, UK, Authorize.Net, MM, MW, Authorize.Net, Visa International, Nigeria Digital Money Snapshot, Mobile, Mobile Money, Payments, Nigeria Country Viewport, Aircel ICICI Mobile Money, NFC Chunghwa Chinatrust


Aug 18, 2016 - Bitcoin 'targeted by state sponsored attackers' says Bitcoin.org • The ... - The Register

Bitcoin 'targeted by state sponsored attackers' says Bitcoin.org • The ... Update Bitcoin.org is warning that the Bitcoin Core, the as-close-to-official-as-it-gets version of Blockchain consolidation software and Bitcoin wallets, may ... Bitcoin.org Warns of Expected Attacks Amid Upcoming Bitcoin ... CoinDesk Bitcoin developers suspect attack by 'state-sponsored hackers' International Business Times UK Bitcoin Website Issues "State-Sponsored Attack" Warning Softpedia News The Merkle  - Bitcoin all 5 news articles »

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Context: UK, Blockchain, Blockchain, Bitcoin Foundation, Bitcoin, Blockchain, Bitcoin, Blockchain


Aug 17, 2016 - Iranian Mobile Payment Company Asan Pardakht Preparing For IPO - TechRasa (press release) (blog)

Iranian Mobile Payment Company Asan Pardakht Preparing For IPO Asan Pardakht the famous mobile payment app and PSP (Payment Service Provider) is taking its final steps for IPO. Asan Pardakht AKA AP (pronounced as UP), is Iran's leading mobile payment provider. Asan Pardakht started off as a payment portal for ...

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Context: PSP, IRAN, DC, MP, Mobile Payment


Aug 17, 2016 - The Wretched, Endless Cycle of Bitcoin Hacks - Bloomberg

The Wretched, Endless Cycle of Bitcoin Hacks “There is a long tradition of blaming the victim in the bitcoin community,” said Emin Gun Sirer, a Cornell University computer science professor who researches the currency. “But when you have a six-year long history of near-continuous key theft, at ... Bitfinex Recovers Bitcoin Volume But Perception Battle Rages On CoinDesk FinTech under pressure: Bitcoin hacked through Hong Kong exchange Lexology (registration) BitGo CEO Promotes Cryptocurrency Standard as Bitfinex Hack Response Finance Magnates all 10 news articles »

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Context: FinTech, HONG KONG, Bitfinex, VC, VC, Bitfinex, Bitcoin Foundation, Bitcoin, BitGo, Cryptocurrency, Currency, FinTech, Registration, Bitcoin, BitGo


Aug 17, 2016 - With the launch of Mi Pay, Xiaomi now has a mobile payment service of its own - Digital Trends

With the launch of Mi Pay, Xiaomi now has a mobile payment service of its own Apple, Google, and Samsung all have their own mobile payment services, so why shouldn't others? With Mi Pay, Xiaomi is now ready to compete with the likes of Apple Pay, Android Pay, and Samsung Pay. Of course, the Mi Pay isn't as widespread as the ... Xiaomi unveils Mi Pay mobile payment service Android Authority (blog) Xiaomi Mi Pay Mobile Payment Service Unveiled; Mi Washing Machine Launched NDTV China market: Xiaomi unveils Mi Pay mobile payment system Digitimes Droidmen  - Phone Radar  - The TechNews all 13 news articles »

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Context: China, Apple, Google, DC, MP, PaySys, Google Commerce, Apple USA, Google, Xiaomi, Samsung, Apple iCloud Keychain, Apple Passbook Wallet, Apple Pay, Google Wallet USA, Samsung Pay, Samsung Wallet, Mobile Payment, Samsung, Xiaomi, China Country Viewport, Apple, Samsung Pay


Aug 17, 2016 - Japan Post to unload internet payment unit - Nikkei Asian Review

Japan Post to unload internet payment unit TOKYO -- Japan Post will sell an online payment service operation that has failed to attract customers amid competition from big e-commerce companies. The snail mail service provider under Japan Post Holdings will hand over the operation, Japan Post ... and more »

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Context: JAPAN, OP, JAPAN POST, OP, Japan Post, Competition, Online Payment, Post, Web


Aug 17, 2016 - GhIPSS: BOG to sell 20% of Ghana Interbank Payment Systems ... - Pulse.com.gh

GhIPSS: BOG to sell 20% of Ghana Interbank Payment Systems ... The Bank of Ghana has revealed that it is prepared to offload between 10 to 20% ownership in GhIPSS. This is to improve collaboration and efficiency. and more »

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Context: GHANA, Central Bank of GHANA, GhIPSS Ghana, Interbank, PULSE Network, PULSE, GhIPSS Ghana, USA PULSE, PaySys


Aug 16, 2016 - Iraq Wallet expands ZainCash with country's first online payment solution - Developing Telecoms

Iraq Wallet expands ZainCash with country's first online payment solution Iraqi mobile payments company Iraq Wallet has expanded its ZainCash service by introducing an online payment solution, 'Pay with ZainCash'. This service is available to Zain mobile customers, and is the first of its kind in Iraq. 'Pay with ZainCash' is ...

Link to source

Context: IRAQ, Zain, OP, OP, Hassa, Online Payment, Payments, Hassa, Zain Me2U


Aug 16, 2016 - UnionPay's mobile payments land in North America with Canada debut - TechCrunch

Ubergizmo UnionPay's mobile payments land in North America with Canada debut China's UnionPay is bringing its mobile payment system to North America, starting with a launch today in Canada. The UnionPay International subsidiary of China's interbank network in China, which creates a unified debit and credit card payment network ... China's UnionPay Launches Mobile Payment Service In North America Ubergizmo UnionPay Mobile QuickPass debuts in North America | LeapRate LeapRate UnionPay's Mobile QuickPass Debuts In Canada VendingMarketWatch NFC World all 10 news articles »

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Context: CANADA, China, USA, CUP, Interbank, NFC, Card, DC, MP, NFC, PaySys, NORTH AMERICA, Mobile Payment, NFC Topic, Payments, China Country Viewport


Aug 16, 2016 - Rupali Bank inks deal on MFS with BSFIC, SureCash - Financial Express Bangladesh

Rupali Bank inks deal on MFS with BSFIC, SureCash An agreement signing ceremony on Mobile Financial Service among Rupali Bank, Bangladesh Sugar and Food Industries Corporation (BSFIC) and SureCash was held recently at the BSFIC Auditorium in the city. Ministry of Industries Senior Secretary Md.

Link to source

Context: Rupali Bank, Bangladesh, SureCash, Rupali Bank, RUPALI BANK BANGLADESH, SureCash, First SIB FS, SureCash, Bangladesh Digital Money Snapshot, Bangladesh Country Viewport, SureCash


Aug 15, 2016 - Middle East Payment Services Launches Remote Points-of-Sale Management Service - Zawya (press release) (registration)

Middle East Payment Services Launches Remote Points-of-Sale Management Service Amman - As part of its ongoing efforts to remain up-to-date on the latest developments in point-of-sale (POS) technologies, Middle East Payment Services (MEPS) -a leading, innovative payment services provider in the Middle East - has launched a Remote ...

Link to source

Context: MEPS, MEPSpay, MEA, MEPSpay, Registration


Aug 15, 2016 - Standard Chartered bringing biometrics to Asia, Africa and Middle East - Banking Technology

BusinessDay Standard Chartered bringing biometrics to Asia, Africa and Middle East Standard Chartered is rolling out a suite of fingerprint and voice biometric technologies across Asia, Africa and the Middle East. The bank says the launch reaches more than five million clients, and is the “most extensive rollout of fingerprint ... Standard Chartered Bank in major global roll-out of biometrics Planet Biometrics all 7 news articles »

Link to source

Context: STANDARD CHARTERED GROUP, DT, AFRICA, MEA, STANDARD CHARTERED BANK CANADA, STANDARD CHARTERED USA, STANDARD CHARTERED BANK ZIMBABWE, Standard Chartered Breeze, Standard Chartered MB, Standard Chartered MB Zimbabwe, Straight2Bank, Biometrics, Technology, Straight2Bank


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)

        • 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.

    • How consumers access financial services
      How consumers access financial services

      The 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.

    • 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.

      • Investment
        Investment

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

      • 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

        • 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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