THIS IS A TEST INSTANCE. ALL YOUR CHANGES WILL BE LOST!!!!
Goals
We define a digital wallet as a payment instrument that is typically loaded with money transferred from a bank account or a credit card. The funds available in the wallet is then used for transactions like bill payments and transferring funds to other wallets within the platform
- Define and track the completion of features that are critical for supporting a basic wallet on Fineract-CN.
Requirements
| # | Module | Title | Overview | Importance | Fineract CN support | Notes |
|---|---|---|---|---|---|---|
| 1 | Office and staff | Manage offices | Support for creating, editing and deleting offices and their associated hierarchy | Must Have | Yes | Minor issues : An error message is shown when creating the head office using the community App. Need to investigate further. |
| 2 | Manage staff | Ability to manage staff within offices and associate user logins with fine-grained access control to them | Must Have | Yes | ||
| 3 | Customers | Customer Management | Ability to create and manage customers along with organization specific structured data | Must Have | Yes (needs QA) | |
| 4 | KYC | Ability to associate KYC documents with customers | Must Have | Yes (needs QA) | ||
| 5 | Deposits | Transactional accounts | A transactional account having support for deposits and withdrawals | Must Have | Yes (needs QA) | |
| 6 | ||||||
| 7 | Deposit Fees | Ability to link different percentage charges based on the input source for loading funds. Examples include a flat fee for loading the wallet from bank accounts or a percentage fees for loading the wallet from credit cards. | Must Have | Partially supported | Most Mobile Wallets avoid fees for loading the wallet. Fees are typically paid during transactions or on the event of cashing out of the ecosystem (transferring to bank accounts) | |
| 8 | Transfer Fees | A percentage of the transaction is typically charged as a merchant discount rate for payments made to merchants . This % fee typically has various slabs based on the amount of transactions processed by a merchant , additionally various merchants | Should Have | Partially supported | ||
| 9 | Withdrawal Fee | A percentage or fixed fee is typically levied when a customer cashes out of the platform. This can either be through bank transfers or physical withdrawals through agent networks. | Should Have | Partially supported | ||
| 10 | Taxation support | Typically service taxes are levied on top of any fees charged by an organization (deposit fees, withdrawal fees, transfer fees etc) | Nice to Have | No | ||
| 11 | Documentation and additional data | Ability to capture documents and additional (organization specific) structured data associated with deposit accounts | Should Have | Yes | ||
| 12 | Accounting | COA | Accounting module with support for creating an organizations COA | Must Have | Yes (needs QA) | |
| 13 | Integrated accounting | Integrated accrual accounting for deposits and withdrawals linked to transactional accounts | Must Have | Yes (needs QA) | ||
| 14 | Value dated accounting | Ability to have a separate entry date (date on which the transaction was entered into the system) , transaction date (date on which the transaction was made in the real world) and value date (date on which accounting books were affected) | Should Have | No | ||
| 15 | Customer Access API Gateway | View account details | Ability of authenticated customers to query organization defined (fine-grained control) details of their wallet accounts. Typical details include history of all transactions with a running balance and additional relevant details for transfers etc | Must Have | Yes (needs QA) | Provided by the Mifos Initiative's work around customer self-service |
| 16 | Transfers | Allow customers to make transfers between their accounts and payments to third parties. | Must Have | Yes (needs QA) | ||
| 17 | Third Party processors | Allow customers to authorize third parties to act on their behalf. These third parties need to be registered with the customer access gateway along with details of their associated permissions. | Should Have | No |
Questions
Below is a list of questions to be addressed as a result of this requirements document:
| Question | Comments | Outcome |
|---|---|---|