2 PAYMENT METHOD PROFILES: PAY BY BANK
For platforms such as India’s UPI and Brazil’s Pix. Customers interact with payment service providers to send instructions for payments and authenticate transactions, and the platforms interact with the banks to facilitate the transaction. 541 542 UPI (India)
Debit Request
Remitter Bank
ReqPay 5
RespPay 6
Address Resolution Request
ReqAuthDetail 3
ReqPay 2
RespAuthDetail 4
RespoPay 9
Payee PSP
Payee PSP
RespPay 8
ReqPay 7
1
10
Credit Request
Beneficiary Bank
Acquiring Channel (Mobile APP/E-com)
Figure 2.14 543
PIX (Brazil)
Functioning of Pix in Brazil
Special Intermediary
Special Intermediary
Payer
Transaction account provider
Transaction account provider
Payee
Central bank of Brazil
Payment Initiation Service Provider
Figure 2.15 544
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