Account Naming
Role: Inclusive IPS
Actions:
- Scheme rulebook requires DFSPs to implement clear and standardized account naming with clear enforcement mechanisms
Role: DFSP
Actions:
- Responsible for implementing clear and standardized account naming
- Provides pre-defined set of options to end user on how they would like to display their account name to other end users
Role: Regulator
Actions:
- Implements regulations that require standardized and clear account naming at account opening process
Alias Addressing
Role: Inclusive IPS
Actions:
- Scheme supports alias addressing with multiple alias types available to end users
- Platform implements seamless alias addressing
Role: DFSP
Actions:
- Educates end users on pros and cons of different alias types
Role: Regulator
Actions:
- Educates end users on pros and cons of different alias types
Confirmation of Payee
Role: Inclusive IPS
Actions:
- Scheme requires DFSPs to display recipient’s account name to the sender prior to sender initiating the payment and allows the sender to cancel payment if they cannot or do not confirm the recipient
Role: DFSP
Actions:
- Integrate confirmation of payee into the end user payment journey
Role: Regulator
Actions:
- Regulations are clear that the end user is not liable for confirmed fraudulent payments