CONSUMER INITIATED HIGH-VALUE PAYMENTS

The present disclosure relates to a method and a system for facilitating a consumer to initiate a secure, high-value payment transfer. The present disclosure suggests sending, by a payment initiator, an inquiry about a payment receiver account along with the payment receiver’s details to a payment network via an originating financial institution. Thereafter, the payment network validates the payment receiver details and provides a validation code using the payment data to uniquely identify the transaction. Subsequently, the payment network confirms the validity of the payment receiver details to the payment initiator via the originating financial institution and requests confirmation from the payment initiator to continue with a money transfer. Based on the confirmation, the money transfer request, including the validation code and a Transaction ID (Tran ID), is sent from the payment initiator via the originating financial institution to the payment network. The payment network re-validates both the validation code as well as the Tran ID before sending the money transfer request to a receiving financial institution. Upon receiving the money transfer request, the receiving financial institution completes the request and sends the response back to the originating financial institution. Subsequently, the payment recipient receives the fund from the recipient financial institution. As a result, the payment initiator may transfer an adequate amount of money to the payment receiver account without having to physically visit a bank branch

Some practical suggestions for improving engagement between researchers and policy-makers in natural resource management

Policy-makers and managers in natural resource management (NRM) often complain that researchers are out of touch. Researchers often complain that policy-makers and managers make poorly informed decisions. In this article, we report on a meeting between researchers, policy-makers and managers convened to identify practical solutions to improve engagement between these camps. A necessary starting point is that every researcher and policy-maker should understand, and tap into, the motivations and reward systems of the other when seeking engagement. For example, researchers can be motivated to engage in policy development if there is a promise of outputs that align with their reward systems such as co-authored publications. Successful research-policy partnerships are built around personal relationships. As a researcher, you cannot therefore expect your results to inform policy by only publishing in journals. As a policy-maker, you cannot guarantee engagement from researchers by publicly inviting comment on a document. Actively building and maintaining relationships with key individuals through discussions, meetings, workshops or field days will increase the likelihood that research outcomes will inform policy decisions. We identified secondments, sabbaticals, fellowships and 'buddies', an annual national NRM conference and 'contact mapping' (a Facebook-type network) as forums that can catalyse new relationships between researchers and policy-makers. We challenge every researcher, policy-maker and manager in NRM to build one new cross-cultural relationship each year