SECTION 1: STATEMENT OF REQUIREMENTS - NetHope



4051935-889000-30480-889000Key Tool: Service Provider Capacity AssessmentOne of the best ways for an organization to determine the suitability of a service provider and its e-payments capabilities is to issue a Request for Quote (RFQ). Drafting the RFQ will require an organization to focus on its requirements and the lure of a contract will incentivize the service provider to respond quickly and in detail. SECTION 1:The example statement of requirements provides a starting list of requirements an organization interested in a bulk payments product can use in an RFQ issued to service providers in a market. SECTION 2:After an organization receives quotes from service providers, it is a good practice to interview the service providers that submitted the best responses to the RFQ. The questions in Section 2 can help an organization structure the interview. SECTION 1: STATEMENT OF REQUIREMENTS [Service you require, i.e. bulk mobile payment service]All quotations must cover all of the following requirements; any quote that does not comply with this statement of requirements will not be considered.Please provide your response to the following requirements separately in your quote in the same sequence.MINIMUM STATEMENT OF REQUIREMENTSItem No.List of RequirementsMinimum Service Requirements General Information 1Service NameCompany and service names2AgreementSample service agreement 3Other PrivilegesList of any other privileges or services that reinforce your quote.Payment Product Details: Corporate (payer)4Transaction Tracking CapabilitiesDetails on how transactions are pre-verified before payment and the information provided to the payer [organization] once payments are made. Sample transaction statement.5Registration and Know Your Customer Requirements (Corporate Account)List of requirements for [organization] to activate an account with the service 6Full description of disbursement (Payment Process)Process flow chart of a funds disbursement including screen shots.7Account balance and transaction volume limitations (Corporate Account)Details on transaction limits, including limits on limits on the value of payments [organization] can send to a single recipient in in one day and limits on the volume of transactions an [organization] can send in one day. 8User Authorization Ability to assign different user authorities within the system (i.e. maker, checker, processor)9Brochure, Catalog and BookletAttach brochures, catalogs and booklets that illustrate the service’s functions.10InteroperabilityPlatform interoperability with other payment platforms. 11PricingDetailed pricing matrix for transactions 12Data StorageAbility to store recipient data on the payment platform to avoid uploading names every time a payment is made.Payment Product Details: End User (payee)13Receipt of Funds Notification of transaction to recipients (i.e. SMS message) 14Registration and Know Your Customer Requirements (end user account)List requirements for recipients to activate an account with the service provider. Describe ability to process payments to unregister or non-account holders. 15Account balance and transaction volume limitations (End User Account)Details on minimum/maximum amount of funds the end user can have in the account, as well as the amount of transactions that can be received in one day.Distribution 16Coverage Area and Distribution networkMap of service geographic coverage areas in [country]. List all cash in/cash out access points (agents).17Cash in/Cash out Liquidity ControlsDetails on liquidity management at the cash in/cash out access points (agents)Customer Service/Training: Corporate (payer)18Training for staffDetails on the training provided to [organization]'s staff on the system 19Technical Support/Service Level AgreementsDetails on the service provider's support availability, monitoring, measurement, and reporting of technical support services19Disbursement TroubleshootingDetails on dispute resolution process and process for return of funds not received or collected by recipients as well as other trouble shooting scenarios. Customer Service/Training: End User (payee)20Training for end users (recipients)Details on training (if any) provided to the end user (payees). 21Technical SupportDetails on the service provider's customer service and support availability and standards.22Recipient TroubleshootingDetails on who is responsible for troubleshooting transaction problems encountered by payees. Data Privacy/Security/Service Provider Internal Controls23Security of FundsProcesses and policies for security of funds once they are deposited into the account. 24Data SecurityProcess and policies for ensuring the privacy and security of data involving the transactional history of [organization].25Data PrivacyProcesses and policies for ensuring security and privacy of payee data. SECTION 2: DETAILED INTERVIEW QUESTIONS FOR SERVICE PROVIDERS General Information: Provide the company and particular service's nameCan you please provide a sample agreement between parties? (Service Provider and Customer)Please provide any other services or products that may reinforce your quote Payment Product Details: CorporateWhat are the requirements the payment service provider has for corporate clients to open an account? What are the "know your customer" standards for the payment service provider (e.g. photo identification, documentation, etc.)?How does the payment service provider track and confirm transactions? What is documented in the process?How does an organization verify that the funds transmitted reach the intended recipient?What are the maximum/minimum amounts of funds a corporate client can disburse in a day?How many transactions can a corporate client disburse in a day?What sort of customer confirmation, notification, or follow-up for transmittals of funds can the implementing partner relies on?What is the clearing and settlement process for payments?Are the fees for both sending and withdrawing funds visible when preparing for disbursal?What is the pricing structure of your product?How stable are the service provider and power networks? May we see a copy of the uptime records (for mobile payments)?Is the payment service provider's network interoperable with other payment service providers? If your product is not interoperable, how does your product handle transactions across two different networks (Off-Net Transactions)? What is the reconciliation process for off-net transactions?Payment Product Details: Payee/End User What are the requirements for a payee to opening an account? What are the "know your customer" standards for the payment service provider (e.g. photo identification, documentation, etc.)? What is the pricing structure for payees (Withdraw fees, etc.)? Does it vary for account and non-account holders? What is the minimum/maximum amount of funds a payee can receive in one day?How many transactions can an end user account receive in a day? How are payees notified when a payment is received? Does the payee get a message stating who the payment is from and the purpose? Distribution: How many cash in/cash out points does the service provider have?How many cash in/cash out points does the payment service provider have in country? What is the breakdown for the region where the organization will make payments?How does the payment service provider sign up and train agents?How does the payment service provider manage and monitor cash in/cash out location activity, including liquidity? Are there audits?What are the reporting requirements for agents providing cash in/cash out services? Customer Service/Training: Corporate How does the payment service provider settle disputes on transactions? For example, if funds do not arrive to recipient, how does one recuperate funds?What sort of customer support do corporate account holders receive?Will I have a dedicated customer service manager? Do you have a dedicated customer service team for bulk payment products?How many hours of training do you provide to corporate customer’s immediate staff?Do you have any training curriculum/collateral available for corporate clients?Customer Service/Training: End User: How does the payment service provider settle disputes on transactions reported by payees? Who is responsible for working with the payee to recuperate lost funds?What sort of customer support does the end user/payee account receive?How many hours of training do you provide end users?Do you have any training curriculum/collateral available that targets end users?Data Privacy and Security/ Service Provider Internal Controls:What are the payment service provider's internal financial management systems?How long does the payment service provider keep accounting records of transactions? What internal controls and accountability processes are in place for the service provider's staff? What systems are in place to secure sensitive data?What are the payment service provider's fraud monitoring policies?How does the service provider ensure the privacy of the end user's (recipient) dataHow does the service provider ensure the security of funds in the corporate client's account? ................
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