Following the public consultation held in the third quarter of 2021, the multi-stakeholder group on mobile initiated (instant) credit transfers (MSG MSCT) has prepared the second release of the document “Mobile Initiated (Instant) Credit Transfer Payments and Technical Interoperability Guidance (MSCT IG – EPC269-19v2.0)”, originally published in 2019.
This new release includes the necessary maintenance of the various chapters and updates in view of market and technical developments during the past years and addresses the comments received through the public consultation held last year. It further includes updates in view of the answers received on a number of questions that the MSG MSCT posted to the European Banking Authority ( ) Q&A tool. Various documents on the technical interoperability of MSCTs and new MSCT interoperability models (EPC312-19, EPC096-20 and EPC031-21), published separately over the past year, have also now been integrated. The document also includes new work on MSCT interoperability with respect to unsuccessful and R-transactions (refunds, returns, rejects, refusals and reversals) and on MSCT technical interoperability messages. Finally, the document has also been aligned with the document on Standardisation and governance of QR codes for Instant Payments at the Point of Interaction (IPs at the POI, EPC212-21), published in November 2021.
The document aims through the description of MSCT use cases to provide an insight into the main issues related to the initiation of (instant) credit transfers for different payment contexts such as person-to-person, consumer-to-business (retail payments including both in-store and m-commerce payments) and business-to-business payments. Hereby both MSCT use cases whereby payer and payee are customers of the same MSCT service provider as well as MSCT use cases whereby different MSCT service providers are involved for the payer and the payee have been considered. Next to the MSCT transaction aspects such as payer authentication, transaction authentication, risk management and payer/payee acknowledgements and notification messages, it focuses on the technology and security used in the customer-to-Account Servicing Payment Service Provider (ASPSP) space, since the Instant Credit Transfer ( ) and transactions as such have already been specified in the respective scheme rulebooks. It furthermore specifies various security guidelines for MSCTs (e.g. MSCT app, CDUVM, etc.). The document analyses in detail the technical interoperability of MSCTs based on payee- or payer-presented data and specifies the technical interoperability requirements between MSCT service providers, which are also depicted in some illustrative process flows using a so-called “HUB” between the payer’s and payee’s MSCT service providers. It defines the minimum data to be exchanged between the payer and payee to enable the initiation of an MSCT. It further specifies the minimum data sets for all interoperability messages between the respective MSCT service providers of the payer and the payee. Additional interoperability models including a Payment Initiation Service Provider (PISP) or a Collecting (on behalf of the merchant) are also included. Finally, the document identifies the main interoperability challenges but also opportunities for MSCTs.
Note that subjects such as business cases and revenue models for the MSCT value chain are in the commercial space and therefore are not addressed in this document.