BusinessInventor

Design Principles for Financial Services for the Poor Following is an enumeration of different design principles that are useful when designing financial services for the poor. First the enumeration, then a discussion of the background where these principles apply with an indicator of their areas of impact; Product, Technology or Policy and more importantly where to use them. 1) The 11 Design Principles for Financial Services for the Poor   Design for Social Obligation   Design for Social Rank Flexibility with Sanctions Structured Illiquidity Change the Iconography, Design with Local Values Design for Convertibility Help Calculate Convertibility Design for Relative Volume, not Increment Lucky Numbers Tranches and Tiers Design for Cyclical Events 2) Social Obligations and Social Rank Poor people’s existing savings behavior involves social obligations and commitments, not just individual self-discipline or planning for the future. New savings sys...

  The Credit Card Purchase For Business Inventors Visa Credit Card Purchase Flow Diagram Diagram 1: Credit Card Transaction Process (Visa) Steps: 1. The buyer makes the purchase and provides her card information 2. The merchants needs to get the authorization about the credit card information from the acquirer of the Merchant Because nowadays, the shop can accept different types of electronic payment; hence, the Merchants could need a PSP. A payment service provider ( PSP * in the diagram above ) offers merchants online services for accepting electronic payments by a variety of payment methods including credit card, credit debit, bank transfer, and real-time bank transfer based on online banking – as the intermediate between the merchant and the payment system. In other words, the PSP will forward the message between the Merchant and the Acquirer as seen in the process diagram. Although the PSP has certain role in the payment system, it doesn...