Business Definitions
User Verification Status:
User can be unverified, Limited, Confirmed, Trusted with a trust score of 1-10 Program manager can setup the verification requirements in the system based on the program user security preference.
User Verification Requirements:
- Personal Details: including full name and Date of Birth
- Contact Details: Primary address
- Telephone: Mobile and/or Home Phone
- Email Address: Email
- Banking Information: Credit Card and/or Bank Account
- Identification: National ID and/or Passport (SSN/SIN for US and Canada)
- General Other Requirements: Up to program manager, usually a signed agreement to be uploaded to the system
User Verification Setup
The default user verification setup is as follows:
- Unverified : No data about the user has been verified
- Limited: Verification for the Email and Phone (Mobile and/or Home Phone)
- Confirmed: Limited Status + Personal Details + Identification Document
- Trusted: All User info has been verified Confirmed + Banking Information
User Trust Level
The User Trust score is as follows:
- Unverified : 0
- Limited: 1-2
- Confirmed: 3-4
- Trusted: 5-10
Transaction Limits:
Program manager can define transaction limits based on the User Trust Level that includes Daily, Monthly, and Yearly; transaction limits for funds deposits, withdrawals, and transfers; higher Trust Level means the user can more transactions.
Accounts
Accounts belong to Users and the system supports the following account types:
1. E-Wallet: General account that can be used for mobile or online transactions.
2. Points: Reward account that can accumulate points.
3. Debit Card (Visa/MasterCard): Accounts issued on Visa/MasterCard network with the following subtypes:
- Virtual cards: only used for online transactions.
- Physical cards: cards that is shipped to the User and can be Used online, on ATMs and POS machines.
- Anonymous card: used as gift cards and can be virtual or physical.
4. Accounts funding: all account regardless of type can be configured for one time fund load or reloadable.
5. Account expiry: All account must have expiry date, usually E-wallet and Points account expiry is set to 5-10 years and Debit Card accounts is set to 1-2 years from the date of creation.
Accounts must be first created and then activated; this can also be done in a single process depending on the account type and the program configuration.
In order to create accounts in the system, the following Account creation requirements must be met:
- A User must exist in the system and must be active.
- User country of residence: the country of the User primary address must be enabled (program configuration and can be modified).
- User verification status (Limited, Confirmed or Trusted) must be met (program configuration and can be modified).
- User age: The minimum age allowed to activate accounts (program configuration and can be modified).
In order to activate accounts in the system, the following are Account activation scenarios:
1. Auto activate account setting: The system will auto create and activate an account upon the successful creation of a User and the Account creation requirements are met; the Auto activate accounts only work for new User account creation; this option can only Create one Account for each type and currency configured for the program.
2. Account creation and activation: Program credential can create an activate accounts in one request by calling the Account end point; this is usually used for adding new Accounts to Users after the User creation.
3. Physical Debit Card activation by User credential: If the card requires activation by the user after receiving the card by the User, the User must enter the card activation code to activate the card.
There is a setting to the number of allowed accounts for each type and currency that can be created per User in the system. (program configuration and can be modified).