Following the extension of their mandate, the ad-hoc multi-stakeholder group on mobile initiated SEPA (instant) credit transfers (MSCTs) has prepared the draft second release of the document “Mobile Initiated SEPA (Instant) Credit Transfer Interoperability Guidance (MSCT IG – EPC269-19)”, originally published in 2019.
This new release will include the necessary maintenance of the various chapters and updates needed in view of market and technical developments during the past years and of some comments received through the public consultations on technical interoperability of MSCTs held last year. In addition, some documents published separately over the past year have now been integrated: EPC312-19, EPC096-20 and EPC031-21. 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.
The document aims through the description of MSCT use cases to provide an insight into the main issues related to the initiation of (instant) SEPA 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. 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 Payment Service User (PSU)-to-Account Servicing Payment Service Provider (ASPSP) space, since the SCT Inst and SCT transactions as such have already been specified in the respective scheme rulebooks. It furthermore specifies various security guidelines for MSCTs (e.g. MSCT app, PSU on-boarding, 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, for successful, unsuccessful transactions and rejects, which are also depicted in some illustrative process flows. It defines the minimum data to be exchanged between the payer and payee to enable the initiation of an MSCT and specifies a payee- and payer-presented Quick Response (QR)-code for MSCTs. It further specifies the minimum data sets for all interoperability messages between the respective MSCT service providers of the payer and the payee. New interoperability models involving a Payment initiation Service Provider (PISP) or a Collecting PSP (CPSP) on behalf of the merchant have also been addressed. Finally, the document identifies the main interoperability challenges but also opportunities for MSCTs.
Various topics addressed in this new release were also requested through Recommendation A in the European Retail Payments Board (ERPB) Statement published in November 2020.
Note that subjects such as business cases and revenue models for the MSCT value chain are in the competitive space and therefore are not addressed in this document.
In order to help developing a successful MSCT ecosystem that provides value for all, it is very important to gather industry opinion and feedback regarding this draft new release. The multi-stakeholder group values your opinion and welcomes any feedback and comments that you may have regarding the document, using the dedicated questionnaire (MSG MSCT 074-21v1.0).
Feedback should be sent to [email protected] by 7 October 2021.