A telco credits prepaid minutes to its prepaid mobile users who are at the most fraudulent risk for telcos due to stolen credit cards usage. With ISO 20022 Telco providers could instantly receive payment and rich remittance data from prepaid users thus being able to instantly credit prepaid minutes without worrying about fraudulent payments (stolen…
Use Case Benefit: Dataful Payments
An insurer makes a periodic payment to a preferred vendor that covers multiple invoices. With ISO 20022, a single payment can be sent with remittance data that details all the invoices that a single aggregated payment is intended to cover. The vendor can receive confirmation of the payment credited to their account and information on…
A Life & Health insurer pays a claim to a health services provider through a Third-Party Administrator (TPA). The TPA processes and approves the claim submitted by the provider and sends a payment request to the insurer with remittance data detailing what the payment is for. By accepting the payment request, the insurer initiates a…
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