1. Consolidated Account System
Some insights

2. 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

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