2024-05-15 Payments Working Group Meeting Notes

Owned by Kibuuka, Arnold, created
May 22, 2024
2 min read

 Date

May 15, 2024

 Participants

  • @Kibuuka, Arnold

  • @Mauree, Venkatesen

  • @Oscar Correia

  • @David Higgins

 Goals

The meeting focused on the acknowledgement of the successful completion of phase 1 of the payments building block, which included delivery of all technical reports and API implementations for G2P and P2G payments. The group then transitioned to discussing the focus areas for phase 2, including B2G, G2B, and G2G payments.

 Discussion topics

Item

Presenter

Notes

Item

Presenter

Notes

Phase 1 Completion

@Mauree, Venkatesen

  • Vijay mentioned that all deliverables for phase 1 of the payments building block, including technical reports and API implementations for G2P and P2G payments, have been completed.

Phase 2 Focus


@Mauree, Venkatesen @Oscar Correia @David Higgins

  • The following were discussed as the focus areas for phase 2 of the application challenge:

  1. Business to Government (B2G)

  2. Government to Business (G2B)

  3. Government to Government payments. (G2G)

  • Multi-Currency Payments: Oscar will lead the investigation into how existing specifications can support multi-currency payments, focusing on internal use cases within countries.

  • Use Case Identification: Vijay and David will identify use cases and requirements for B2G and G2B payments, seeking expert contributions.

  • Blockchain Exploration: David will explore the use of blockchain for transaction verification and seek academic partners for research.

Additional Topics were discussed for consideration

@Oscar Correia @Mauree, Venkatesen @David Higgins

  • Wallet Building Block Integration: Vijay and David will investigate how the wallet building block can enhance the payments building block.

  • Potential for verifiable credentials in the mobile money wallet.

  • The possibility of using AI for fraud detection and reporting was discussed.

  • Cross-border payments and Forex control.

 Action items

@Oscar Correia Lead work on multi-currency payments.
@David Higgins @Mauree, Venkatesen Identify use cases for B2G and G2B payments.
@David Higgins Explore blockchain technology for transaction verification and immutability.
@Mauree, Venkatesen Investigate wallet building block integration.
@Kibuuka, Arnold @Mauree, Venkatesen share meeting notes and call for new members.
@Kibuuka, Arnold Schedule the next meeting for June 19th at 4:00 PM Geneva time

 Decisions