M-payment: Consultation on the EPC’s White Paper
- The EPC has released the second edition of its White Paper on Mobile Payments for public consultation until 23 March. This enhanced version of the initial mid-2010 publication adds remote m-payments to the face-to-face contactless m-payments. The former edition includes new use-cases of mobile-initiated basic SEPA transactions: SCT and SEPA card payment. M-wallets are also considered as well as some security issues, among which the Secure Element and payment finality for the payee).
- The white paper provides thorough description of the architecture, ecosystem and infrastructure components for both mobile payment kinds of interaction. It also demonstrates easy subscription to m-payment services corresponding to the defined use-cases (illustrated by scenarii in a typical day in the user’s life).
- The EPC eventually indicates a priority level in its standardisation work: mobile contactless card payment (MCP) as well as mobile remote payments (MRP) via either SEPA card or SCT come first. It intends to propose “Interoperability Guidelines” for mobile remote payments –similar to the existing ones for mobile contactless payments– as soon as possible.
See July 2010 and November 2011 Insights
- This enhanced document proposed by the EPC addresses the need to better adhere to the developments in the mobile market: B2C apps, P2P payments, m-wallets, near real-time payments, etc.
- The EPC, jointly with the GSMA, has already achieved a consensus between payment institutions and mobile carriers to manage SIM-based mobile contactless payment apps. To this respect, in November 2011, the GSMA released an international standard, adopted by the largest mobile operators worldwide. This current White paper however encompasses a wider scope, while basing mobile remote payments on existing SEPA instruments: SCF cards, SCT. The EPC’s “Interoperability Guidelines” aim at setting a common ground to build on for a variety of payment apps providers.