Page 21 - FIGI Digital Financial Services Consumer Competency Framework
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3�2 Transaction Phase
The competences for the transaction phase are as follows:
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2�1 Understand how an electronic payment is initiated using digital channels , and the conditions for the transactions
to be completed (i�e� receiver receives payment)
To understand the role and responsibility of all stakeholders involved in the transaction chain.
Knowledge area CA2.1-K1Be aware of the various digital channels available/different payment meth-
ods [For gender sensitivity: Include also information about the importance of mobile
phones for bridging financial inclusion gap and why it is important for women to own
their mobile device].
CA2.1-K2 Understand the breakdown of the electronic payment transaction and its
agents (i.e. understand one’s role in the chain).
CA2.1-K3 Understand that consumer assets including deposits require appropriate
controls/insurance.
CA2.1-K4 Understand what digital tools can help persons with disabilities access
financial services.
CA2.1-K5 Understand the complete process of initiating DFS transaction on the digi-
tal platform.
CA2.1-K6 Be aware that the amount may be transferred following a delay.
CA2.1-K7 Be aware of the role of intermediaries in the transaction, and the commis-
sion they are authorised to charge to enable the transaction.
Skills area CA2.1-S1 Be able to register and set up an account for such transaction.
CA2.1-S2 Be able to follow the various steps of the transaction.
CA2.1-S3 Be able to check if the transaction has been successfully completed.
CA2.1-S4 Verify that commissions that are charged are as advertised.
CA 2.2-S5 Accessibility – understand how to use a mobile phone with braille keys and
accessibility features on smartphones.
CA 2.2-S6 Accessibility – Be able to use a multi-lingual chatbot that leverages aug-
mented reality (AR) technology to help persons who can’t read or understand written
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materials .
CA2.1-S7 Be able to select the most convenient and affordable DFS product available.
Proactive steps CA2.1-P1 Verify receipts and statements, particularly the amount transacted, and the
accounts involved.
CA2.1-P2 Verify whether transactions were correctly completed, and the correct
amount of funds were transferred to the appropriate account.
CA2.1-P3 Verify the final cost of the product before accepting or activating the trans-
action.
Digital Financial Services Consumer Competency Framework 19