2023-03-13 G2P Use-case implementation - Alignment with Mojaloop

Clarifications on the roles of Mojaloop in a bulk payments Ecosystem

Paul Makin

Clarified the following about Mojaloop and the account mapper

• MojaLoop serves as a clearing and settlement service and balances the risk between different financial institutions and does

• Payment instruction is passed to MojaLoop when a payment is made from one institution to another.

• MojaLoop handles the three phases of discovery, agreement, and transfer.

  • Discovery involves finding the destination account.

  • Agreement includes agreeing on the terms of the transfer, including fees.

  • Transfer confirms the transfer between the two institutions.

  • Settlement involves all participating institutions having some form of liquidity lodged in an agreed institution.

  • MojaLoop handles the transfer of funds in settlement of liabilities between institutions.

• MojaLoop only accepts payment instructions from financial institutions, not external institutions like open G2P.

• The Oracle translates between an alias and a destination institution.

• End-to-end connection between core banking systems is crucial for transaction guarantee.

• Account Mapper allows mapping of ID to FSP, and MIFOS can add management functionality for transactions.

• Account details are not published in Oracle, only mapping between alias and account holding institution.

• There is a support and alternate version where the mapping DFS P2 account number mapping is maintained in a central infrastructure.

@karim.jindani

• Pointed out that the initial diagrams around payment building block could have caused the confusion - but they will be revised.

• Payment hub will be dissected internally into more components

• Updated specs being worked on

• Account mapper may not need to keep account number, can keep functional ID and alias mapping.

@Soban Najam

• Account Mapper is responsible for handling beneficiaries and voucher-based payments, and it requires diverse functionality.

• Oracle is only used for alias resolution requirements, and account details are not published for security reasons.

• The primary focus for bulk disbursement is conforming with G2P Connect, with deviations being looked at for conformity.

• MIFOS will lead in areas like vouchers, with their own specs being developed from scratch.