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More on PSD2

1 week 1 day ago #6147 by Joseph India
Hi Annamary, Not only bank accounts will be frozen, You can't use cell phones, drive, vote etc..

Aadhaar bio metric ID CARD is a 12-digit unique identification number issued by the Indian government to every individual resident of India.

This number is linked with your mobile sim, any bank account, drving licence, Voter's card, income tax returns... etc.. You cant escape..
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1 week 2 days ago - 1 week 2 days ago #6132 by Anita:Technical Support
RE : www.aljazeera.com/programmes/insidestory...171113182940737.html ......

Very interesting.....Thanks Annamarie

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1 week 2 days ago - 1 week 2 days ago #6122 by Annamarie
Following on from what weve been discussing, Steve & Paddy you will love this video, its about how India has developed the worlds largest biometric identity card system to reduce identity theft,corrupion and beauracracy or is it big brother? Bank accounts will be frozen for those members refusing to do the card system

click her for the worlds largest biometric identity card system
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1 week 4 days ago #5871 by Paddy Delaney
Through having a Frega Account and Merchants using S2T or an API that links their POs to the Frega gateway will mean that anyone can pay/ be paid/ receive refunds on returned goods etc via their Frega Accounts and online and this can even be done from their mobile phone... a request for payment would to a scanning device ...the customer opens barcode on their mobile phone that connects to their Frega account ...scans and types in pin number on phone - payment made ...if not sufficient money in Frega Account it draws automatically money from customers other linked accounts with their commercial banker (possible because of PSD2) to cover the purchase (tops up Frega Account)
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1 week 4 days ago #5867 by Paddy Delaney
In terms of the PSD2 directive API's have to be made available to all PISP's to access accounts to request/initiate transfers to/from

W area a PISP (Payment initiation Service Provider) and as such every Frega Account Holder will, because of the PSD2, directive have the ability to link their Frega Accounts to any other accounts they may have with other financial service providing and therefore making it easy to transfer from to and between different accounts with different institutions.

Where we are clearly advantaged is that we open Frega Accounts for anyone just by the fact that they registered onto any of our URL's and URL's used by third parties that use our registration API.

Repeating myself again, for fear of stating the obvious, we credit these registrants immediately with two things for having registered and that is cash in up to 10 currencies and recurring, increasing amounts of cash. We do not ask whether they have existing access to any financial services and the reality is 50% of the World does not (including 8% in the UK and 13% in USA etc).

Where the Frega Account Holder had no other financial accounts they will interface with those that do so technically through degrees of separation we connect the whole world up to ALL financial systems globally.

The previously unbanked will from their Frega Account effectively trade with everyone ...it will soon be obvious to ALL Merchants, big and small, that they best participate in our S2T directory should they wish to trade with the full spectrum of consumers

This is significant for us in that Frega opens accounts for people that previously had no access to any financial services for the simple reason that they had no reliable form of income and could not cover the cost of having an account.
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1 week 4 days ago #5858 by Paddy Delaney
Yes do ALL three

Know who you are(KYC)
Know where and how (device) you are interacting with us
Know the content of what you are doing with your money/ know the source and application of the money
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1 week 4 days ago #5849 by Prosperitywithpurpose
My money is on our ability to track and trace members activity on the platform, which provides the third level of assurance of our valid personality. That is our version of "Block-chain technology"
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1 week 5 days ago #5847 by Annamarie

Prosperitywithpurpose wrote: Just found this brief video explanation more about PSD2. In talking about the three phase authentication, it mentions ....
Something you KNOW ..... Username/password ... self explanatory
Something you OWN .... phone or tablet tracking ... self explanatory
Something you ARE ...... ?

Steve that's a great point you raise "Something you are" as it is not expanded on in video. I'm guessing that where peoples smart phones or the zoom video will come in useful to provide selfies, a quick photo id or a recording. I noticed they also showed a finger print id to. I know some smart phones are equipped with this technology however I would'nt want to pass mine on. Be good to hear Paddys answer when he wakes.

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1 week 5 days ago #5831 by Prosperitywithpurpose
Just found this brief video explanation more about PSD2. In talking about the three phase authentication, it mentions ....
Something you KNOW ..... Username/password ... self explanatory
Something you OWN .... phone or tablet tracking ... self explanatory
Something you ARE ...... ?
Maybe you can elaborate Paddy .... In what ways does our activity on the platform authenticate who we ARE. I guess that's where our "Blockchain" like technology comes in.

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