The European Payments Council (EPC), representing the European banking industry in relation to payments, has published the second edition of its ‘White Paper on Mobile Payments’ which is now available for public consultation. The EPC encourages all Single Euro Payments Area (SEPA) stakeholders to provide feedback by 23 March 2012.
The EPC’s ‘White Paper on Mobile Payments’, which was first published in July 2010 presents an overview on mobile payments (m-payments) for SEPA. It focuses on the usage of the mobile channel for the initiation of SEPA payment instruments.
The white paper also explores how m-payment services can be delivered through cooperation between service providers in the payment industry and players within the mobile ecosystem. It offers an informative read to any party interested in m-payments, and aims to foster a common understanding by using non-technical language. This second edition of the EPC’s ‘White Paper on Mobile Payments’ describes mobile wallets at high level. In addition, the document has been updated to cover both contactless and remote m-payments. It analyses in particular use cases for mobile remote card and SEPA Credit Transfer payments.
M-payments are typically divided into two areas of activity: remote m-payments, where two parties are able to send and receive or exchange funds using the mobile channel, irrespective of where they are located; and contactless m-payments, where the mobile device needs to be ‘waved’ in close proximity to a point-of-sale terminal. The EPC aims to support the advancement of both types of m-payments to ensure the development of a sustainable infrastructure.
EPC Chair Gerard Hartsink comments: ‘The EPC, working together with all stakeholders active in the mobile payments ecosystem, is willing to contribute to the development of the necessary standards and business rules with regard to the initiation and receipt of SEPA payments by mobile. Our intention is to help establishing a framework, which enables potentially all payers and payees to make m-payments across the European Economic Area, and creating a secure environment for the multiple stakeholders active in the field.’
Dag-Inge Flatraaker, Chair of the EPC M-Channel Working Group, adds: ‘The EPC’s ‘White Paper on Mobile Payments’ responds to changing needs in the payments area and demonstrates how m-payments can increase efficiency, effectiveness and convenience. To ensure that the EPC’s work in the area of m-payments best meets industry and consumer needs, we invite all interested parties to review the second edition of the white paper and share their comments by 23 March 2012. The document will be further updated based on the feedback received.’
The documentation relevant to the 2012 public consultation on the EPC’s ‘White Paper on Mobile Payments’ is available on the EPC Website.