The ad-hoc multi-stakeholder group on Mobile Initiated (instant) SEPA Credit Transfers (MSG MSCT), which is facilitated by the European Payments Council (EPC), held its 14th and 15th Plenary meeting on 1 September 2020 and 1 October 2020 respectively.
The MSG MSCT finalised the document on “Technical interoperability of MSCTs based on payer-presented data” for publication early December on the EPC website and prepared a disposition of comments for distribution to the submitters of the comments received through the eight-week public consultation on the draft document held over the summer.
Furthermore, the MSG MSCT prepared a document on the security of quick response (QR)-codes and their data.
The MSG MSCT continues to investigate new MSCT use cases based on consumer-presented data for consumer-to-business payment contexts and new models involving a payment initiation service provider (PISP). It is also looking into the security aspects related to the usage of QR-codes and their data for the initiation of MSCTs.
The MSG MSCT also proceeds with the development of an MSCT roadmap and discussed the priorities with respect to the different aspects to be addressed to achieve interoperability of MSCTs.
While developing some of this work, the MSG MSCT has also encountered a number of challenges and unclarities with respect to the application of the revised Payment Services Directive (PSD2), the Regulatory Technical Standards (RTS) on strong customer authentication and common and secure open standards of communication and supporting European Banking Authority (EBA) guidelines, for which several questions have been tabled to the EBA Q&A tool during the recent months. Feedback on these questions is awaited by the MSG MSCT in the coming months to progress and finalise some of these developments.
Furthermore, they are coordinating and providing inputs to the Euro Retail Payments Board working group (ERPB WG) on a framework for instant payments at the Point-of-Interaction (POI) (see in ‘related links’). More in particular, they finalised in a joint task force with the ERPB WG the development of security requirements for payment service user on-boarding for Instant Payments (IPs) to be used by IP service providers and merchants and contributed their document on the security of QR-codes and their data.