Consolidated Account System

1
Consolidated Account System

• Some insights

2
Product Definition

• A prepaid Sub Account
• That Stores Money Electronically
• Enables Secure Electronic Payments
• Between People Businesses
• Easily Instantly
• All such sub accounts to be backed by a bank

3
Structure Flow
4
Advantages

• Facilitates basic payments
• Lower operational costs
• Instancy the Big USP
• Bank Neutral Single Payment Window
• Lower costs within without the eco system
• No risk fully prepaid model
• Only human intervention is reconciliation
• Ease from an accounting and settlement
  perspective
• Easy from an integration perspective without
  increased risk

5
Issues to be resolved

• No precedence
• Convincing banks
• Suitably modifying regulation
• Creating and adhering to suitable KYC norms
• Customer Acceptance
• Resistance from competition
• Interest payments
• Redefinition of terms deposit etc.
• Training of customers