Interoperability

1
Interoperability
2
Concept

• Ability to send money from one mobile number to
  another mobile number
• P2P money transfers
• Small value merchant payments

3
Standards document was circulated, with broadcast
being the key method
Customer
Customer
Bank 4
Bank 3
Beneficiaries mobile number, amount
Bank 2
MPP
Broadcast with the correct bank responding
MPP
Bank1
Switch / settlement agency
Bank
Bank
Customers account CBS
Customers account CBS
Each mobile number will be linked to a bank
account
4
Standards document circulated, but one change has
been made
Customer
Customer
Beneficiaries mobile number, BIN MAS, amount
MPP
MPP
Switch / settlement agency
Bank
Bank
Customers account CBS
Customers account CBS
Each mobile number will be linked to a bank
account
5
Advantages of new method

• Much more efficient system as all banks will not
  work to locate the customer of one bank
• Able to pinpoint one account as opposed to a
  default account

6
Pilot phase Update

• 6/ 7 banks will participate in the pilot phase
• Phase 1 likely to be P2P payments only
• NPCI will be ready with architecture as per
  documentation by April 30
• 6-7 banks will participate in the pilot
• Standards will be documented on the basis of the
  pilot by IIT Madras
• Pilot phase launch likely in May / June
• Commercial launch 6 months later

7

• Thank you