Payment Systems

In the context of DSPDS, Payment Systems are platforms that facilitate the secure, timely, and accurate transfer of benefits (usually monetary) to program recipients. These systems typically feature:

• Integration with BOMS for beneficiary and payment information

• Support for multiple payment modalities (e.g., bank transfers, mobile money, prepaid cards)

• Automated payment scheduling and processing

• Real-time payment tracking and reconciliation

• Security measures to prevent fraud and errors

• Reporting and auditing capabilities

• Interoperability with national financial systems and regulations Advanced payment systems may also support two-way transactions, allowing for contribution collections in social insurance schemes.