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Frequently Asked Questions
Engagement Round 1
Engagement Round 2
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Can a TPP request consent for payment and data in the same RAR request?
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Are beneficiaries in the data model linked to an account that is the primary identity?
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Having a government-issued identifier in the API is important for risk-type use cases. It would be great to mandate that LFIs provide the EID or trade license so that they can ensure that the account belongs to the person.
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It would be good to have some form of business rules that, in some circumstances, mandate some fields as mandatory, in addition to tech requirements.
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Does LFI need to return all Standing orders \Scheduled payments created by LFI channels or return only TPP-created payments to OBF?
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Would there be monitoring and alerting in OFP for fraud cases? If yes, what would the procedure be for alerting TPPs or LFIs? In addition, what action was taken?
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If OF considers a TPP high risk, will it reject the request received and inform LFIs?
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On the PIS flow, the actual payment initiation starts when the customer clicks on proceed on the LFI app?
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What data elements will be made available for the LFI - for payment requests originating through TPP (i.e. Beneficiary, LFI, etc.)?
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Currently, LFIs display some information to the user before executing the payment, such as accepting T&C, estimate date, FX, transfer amount, etc. Do LFIs have the choice to display whatever they see as suitable for different transactions?
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How does a TPP get payer and payee account details?
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If the consumer has multiple accounts across multiple banks, will the redirection to the bank of choice of the customer be done by TPP?
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Why is long-lived consent needed for a Future Dated Payment? A single consent is sufficient.
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If there are 2 TPPs and a user wants to initiate a payment request through PISP, then it needs to connect to AISP for user accounts. What is the flow for consent, authentication, authorisation, communication, and OFP position?
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Can TPP tell the User that the chosen day is a holiday and to choose another date? Or can it inform the User that payment will be executed on Day+1/2?
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What controls exist to ensure the entire network will be fully compliant with regulatory requirements, including sanctions?
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Can a TPP act as a payment aggregator and provide settlement to the merchant at a later date instead of real-time payment?
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Is the modify payment consent call only for multi payment consents?
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What is the duration of the payment consent?
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Will the OF platform maintain the enforcement of the Payment rules? And will the OF Platform track how much is consumed from the consent limit?
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What is the recommended TotalNumberOfPayments?
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What about user flexibility to change the date? TPP may ask me when I would like the payment to be made (e.g., a user-selected date in May). Where could I select to pay on the 25 May, at the TPP or LFI?
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Is there a cap of consents requested by TPPs?
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What's the value of the suspended state, and to what extent have other regions demonstrated that it is valuable (vs cancel consent then reinstate)?
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Is consent required for every transaction?
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Moving the consent from Authorized to Consumed, would OFP do that after accepting the request from TPP, or is the LFI responsible for updating the status after fulfilling the API request?
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Do communications run through OFP with a request to LFI from TPP and a response from LFI to TPP, which OFP could know that the consent and payment requests are over?
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Can a TPP still request different resources even if the consent state is Consumed?
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Can Consumed and Expired states not be merged as a single state?
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How does an LFI change a consent status?
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Will consent expiry be configured by TPP?
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Should expired consent be controlled by LFI, and should LFI be responsible for reporting this to the OFP? In the previous explanations, we understand that the OFP will be responsible for the consent lifecycle.
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Since the customer has given consent, shall any change made by TPP/LFI or OFP be in the customer's awareness?
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Is the client credentials grant the only acceptable grant to access consent/data?
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Any change in consent will require customer authorization, whether it is initiated from the TPP or LFI interface?
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If 365 days is the default max time for a long-lived consent, in case of data sharing requests, what if TPP starts populating this as the default? What can be possible negative fallouts?
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For API / H2H-initiated payments from clients' ERP, LFI offers a feature to reauthorize using mobile/web channels based on a mandate for client payments. Can LFI offer reauthorization through mobile/web for TPP-originated payments?
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If Open Finance ambitions to introduce international payments, the standards need to be in line with existing norms; otherwise, it will be another customization when International payments are rolled out.
Engagement Round 3
Engagement Round 4
LFI Integration Sessions
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Engagement Round 2
Engagement Round 2
Chris Michael
Owned by
Chris Michael
28 Aug 2024
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