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Frequently Asked Questions
Engagement Round 1
Engagement Round 2
Engagement Round 3
Engagement Round 4
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Why is there fixed fees for the LFI? What benefits do LFIs get?
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What about pricing if TPP is functioning from outside UAE and prices may differ due to FX and others? Is there any threshold for that as well?
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Can you expand on the 38 bps with an example please?
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Will the fee vary based on payment type?
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Are we right to assume that consent calls to the Open Finance Platform will be free? E.g., User checks their consents across various TPPs via their LFI.
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Does the API Hub charge unsuccessful payments?
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Is it freemium model applied per merchant or per customer for single payments?
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How are the fees settled between LFIs and TPPs? Is it through the API Hub operation team on a monthly or daily basis?
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What does 'unattended calls' refer to? Does it mean long-term consent-based requests?
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How is a line of data defined?
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Is LFI responsible for tracking pagination details to charge TPPs?
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Is there a technical limit for the number of API calls? How will the Central Bank regulate this?
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Is credit card payment in scope of OFP? If yes, what is the charge model for credit card payment?
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LFI being free to charge, are there any standards that CBUAE will create so LFI can't charge or macro sender to ensure fair pricing is being charged?
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In payments, there is no concept of unattended/attended calls. Does pricing remain static?
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Is there any specific age span for the initial call when onboarding a customer or is that also 13 months?
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Is this pricing in addition to existing CB fees on Aani payment? Also, for business customers, are these fees in addition to existing bank fees for payment?
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For CB and MT transactions we are charging customers some fees, will that still be applicable apart from this TPP fees?
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Can a TPP request 13 months of data starting from any past date? (in other words, can TPP get additional data with additional calls increasing age span in this way?)
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What is the timeline for Tier 1 Insurers specifically for Health insurers?
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Will data be available in real-time?
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Are banks still paying the same fixed fee after TPPs pricing?
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Regarding user experience, are we standardizing it across the board?
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Will there be a way for LFIs to pull in the billing data from OFP via API layer?
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Can one LFI register more than once based on the business lines (Retail, SME, Corporate)? If yes, how will the billing be in that case?
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Do TPPs need to adhere to the existing consumer protection standards published by the CBUAE or the new revised guidelines currently in process? Billing Dispute and Fraud Management
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Can an LFI expect one single transaction per month or is it per TPP?
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Will there be an electronic portal to match the billable items to the invoice?
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How are invoices shared with LFI and TPP?
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Some specific parameters required for fraud monitoring might be specific to LFIs. Will TPP pass that information?
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Is fraud monitoring specific to LFI and not for TPP?
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As per the liability model, fraud monitoring responsibility is with LFI. Request to elaborate more on TPPs role in that case for fraud monitoring.
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Will we have specific SLAs and an escalation matrix for this process?
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It's up to TPP/LFI how customers will fire disputes to them either portal, phoneline, etc.?
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What is the action if the dispute reaches a dead-end?
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Any SLAs to solve these disputes?
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Customers will always raise their disputes through LFI/TPP or they can do through CB portal if any?
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As of now, no API for complaint registration and follow-up status?
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Dispute management clearly defined SLAs—is this part of the dispute resolution?
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When will the liability model that was presented in the last session be published?
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Does the TPP only validate the payee's Acc/IBAN?
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In previous section we discussed that LFI should use AANI Proxy API or UAEFTS Service to fetch payee name and display to customer as part of consent on LFI screen is this requirement descoped now?
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Is it advisable to expose the account number of the payee like this?
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WIll OFP check only the name match or status of the account like inactive, dormant etc?
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Confirmation of payee applicable for only single instant payment with fixed beneficiary?
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In case of recurring payment, verification will happen for every transaction?
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If the payee name does not match, what are the implications?
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In LFI compliance, it could be name exposure and users may keep trying many accounts to get names, is that ok?
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Will there be a separate transaction type for payee confirmation request? what are the rules and provisions to ensure that this information is not misused or used for any other purpose?
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Can a TPP pass a request for a bene that has not already been registered with the LFI?
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The flow as described here looks like a P2P scenario, in case of a person to business payment, the TPP will already have the collection account configured for the merchant, hence confirmation of payee might not be required, is this understanding correct?
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What is the underlying architecture for this service - I understand it will be a consent-less API call to the LFI to provide the name data, and fuzzy logic to do the matching built in the OFH Hub?
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Is confirmation of payee applicable for international payee?
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If confirmation of payee is only for domestic beneficiary, TPP can use UAEFTS Service to validate IBAN and account name instead of making multiple API call between TPP and OFP?
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It says that the return from payee LFI will be matched with the payment request payee name and see if there is a match. So, what is the matching percentage in here?
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If you limited the account number type to IBAN, couldn't that remove the need for a discovery service and simplify the operations to 1?
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How the Process Works for Single / Bulk payments?
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Future dated payments - Is the understanding that the future schedule remains with the TPP, and they will conduct this validation before submitting it to the LFI?
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TPP still has the option to use the standard journey payment without using COP scenario?
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Incase of Multi Authorizer Single Payment Flow, what could be the maximum time frame for the payment to be authorized by the all authorizer in the workflow ?
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Will the OFP receive a TPP discovery request to obtain the name from the payee's LFI identified from the IBAN that has been sent?
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In case of reversal payment, LFI will credit the amount into payer account, how TPP will know since the user will be redirected to TPP app after LFI payment?
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IBAN at the end is a bank account number that could have many currencies and could be used in payment as long as destination currency would be AED?
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If LFI is registered as two entities in TF, one for retail and one for corporate, will there be two CAAP apps for the same LFI?
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Is this option applicable for LFIs that do not have mobile interfaces? Will LFIs with mobile apps continue to use existing authorization and authentication flows? It can be UAE Pass, EFR, or some other mechanism that they already have in place.
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Can you confirm that LFIs will not need to use/support CAAP? LFI can mandate their secured channels/processes.
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I hope the statement "LFIs should use their own authentication and authorization API and CAAP is only for small LFIs that don’t have auth server capability" is still valid.
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From a Corporate and Commercial Customer perspective, many customers operate outside the UAE and need Emirates ID or UAE PASS; how will this journey look in such cases?
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From an end-user perspective, there seem to be too many redirects
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Is UAE Pass support optional or obligatory? If obligatory, will it be required from the start, or will there be a rollout plan with some deadline?
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For the CAAP app for customers, the OFP will pass the identification details, such as email or mobile, to generate OTP and get an account list based on these identifiers?
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Will CAAP also be available to the Insurance Company to share customer data with other insurers? So, the Customer can select Policies' data to share. Or is this only for payments?
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Even if the Bank is using its authentication mechanism, will the consent-related information finally be stored at OFP, or should LFI hold it?
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In the case of CAAP, consent management, like revoking consent, will be handled by TPP and OPF. LFIs don't have any roles.?
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If a consent event is published, then consent management API from LFI can control consent (like revoking) from LFI Channels, right?
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So, should we consider CAAP a white-label solution rather than an aggregator?
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Engagement Round 4
Engagement Round 4
Chris Michael
Owned by
Chris Michael
30 Aug 2024
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