3 PAYMENT METHOD SCORECARD:
DIGITAL WALLET (STAGED/STORED-VALUE)
Decision-Making Balance The balance of decision-making is dependent on the country and brand of digital wallet. For example, UPI in India is governed by the central bank while PayPal is privately-ran.. Fee Setting In some instances, pricing for accepting this payment method is negotiated with the provider while others offer fixed fees. Overall, competition guides the pricing for this payment method. Central Bank Support While research suggests this payment method is separate from central bank support, there is the instance in India of Paytm, a private digital wallet, running on the network rails of UPI, which is ran by their central bank.
Governance
Metrics
Weight Score
Presence of Regulation (Merchant) Presence of Regulation (Consumer) Central Monitoring (Public/ Private) Decision-Making Forums Decision-Making Balance
13% 3.0
13% 3.0
13% 3.0
13% 3.0 25% 3.0 13% 5.0 13% 2.0
Fee Setting
Central Bank Support
TOTAL SCORE
3.1
Regulation Presence (Merchant) The presence of regulation is dependent on the country and/or the underlying payment method in most cases. In Australia, the RBA has made an initiative to mandate least cost routing to digital wallet transactions. 828 Regulation Presence (Consumer) The presence of regulation is dependent on the country and/or the underlying payment method in most cases. In the United States, money transmitter laws enforce consumer protections regarding businesses that are offering transferring money as a service. 829 Central Monitoring (Public/Private) Central monitoring of staged/stored-value digital wallets is dependent on the country and brand of the digital wallet. UPI in India, for example, is ran publicly by the Reserve Bank of India, while PayPal is privately run. Decision-Making Forums There are no well-known digital wallet forums, however, the U.S. Payments Forum include this payment method as a topic of discussion.
185
Powered by FlippingBook