1. Interoperability

2. Concept
Ability to send money from one mobile number to another mobile number
P2P money transfers
Small value merchant payments

3. Standards document was circulated, with broadcast being the key method
Customer
Customer
Bank 4
Bank 3
Beneficiaries mobile number, amount
Bank 2
MPP
Broadcast with the correct bank responding
MPP
Bank1
Switch / settlement agency
Bank
Bank
Customers account CBS
Customers account CBS
Each mobile number will be linked to a bank account

4. Standards document circulated, but one change has been made
Customer
Customer
Beneficiaries mobile number, BIN + MAS, amount
MPP
MPP
Switch / settlement agency
Bank
Bank
Customers account CBS
Customers account CBS
Each mobile number will be linked to a bank account

5. Advantages of new method
Much more efficient system as all banks will not work to locate the customer of one bank
Able to pinpoint one account as opposed to a “default account”

6. Pilot phase: Update 6/ 7 banks will participate in the pilot phase
Phase 1 likely to be P2P payments only
NPCI will be ready with architecture as per documentation by April 30
6-7 banks will participate in the pilot
Standards will be documented on the basis of the pilot by IIT Madras
Pilot phase launch likely in May / June
Commercial launch 6 months later

7. Thank you