Consolidated Account System Some insights

That Stores Money Electronically & Enables Secure Electronic Payments 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

Structure & Flow

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

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