A Telco sends a payment request using ISO 20022 request-to-pay functionality to a customer for their monthly bill. The customer accepts by clicking on a payment initiation link in the message. A payment instruction is auto-populated with remittance information (e.g., customer/invoice number) that was part of the original payment request message. Funds are immediately transferred…
Use Case Benefit: Greater security
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…
An insurer sends a payment request using ISO 20022 request-to-pay functionality to a policyholder when their monthly premium payment via direct debit fails to go through. The policyholder accepts by clicking on a payment initiation link in the message. A payment instruction is auto-populated with remittance data (e.g., policy number) provided by the insurer in…
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