The fraud mitigation lens offers a consolidation of essential guidance to help entities enact effective fraud mitigation while preserving a commitment to inclusion. This guidance…
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User Awareness and Capability Building
Promotional and educational efforts (campaigns, programs, initiatives) to drive adoption and usage of the payment system and essential financial services should be provided by DFSPs,…
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Simplified Customer Due Diligence
Regulations support the implementation of Simplified Customer Due Diligence (CDD) by DFSPs. Simplified CDD allows for a consumer with very limited or no formal proof…
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Data Protection
DFSPs commit to only collecting end user data for purposes that benefit or reduce harm to end users and to safeguarding that data. Security of…
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Certainty of Payee
The Scheme must provide a confirmation of payee notification service that requires an authenticated payer to confirm the payee prior to initiation of a payment…
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Alias Addressing
The Scheme must support payment addressing using multiple alias types and provides alias lookup and mapping services that maps an alias to a digital financial…
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Fraud Liability
Scheme rules must ensure that end users are not liable for confirmed fraudulent payments. This includes fraudulent payments resulting from Authorized Push Payment Fraud (initiated…
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Fraud Rules
Scheme rules must guide DFSPs in managing fraud risk and establish fraud data and information sharing guidelines.
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Regulated & Supervised
Regulation of the Scheme by a financial regulator(s) should establish a sound, regulatory environment for inclusive payments.
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User Friendly Interface Design
The user interface (UI) should be simple, intuitive, easy to locate and navigate to support usability. The UI is also designed to prevent user errors…
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Embraces Technical Providers
Scheme rules should support sponsored aggregators, fintechs, processors, forex providers and similar third-party providers connecting to the system to perform functions for end users or…
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Data Readiness
Data should be structured using ISO 20022 and designed to support all use case needs while also minimizing the passage into or retention of personally…
