The multi-stakeholder group on Mobile Initiated (instant) Credit Transfers (MSG MSCT), which is facilitated by the European Payments Council ( ), held its 30th and 31st Plenary meetings on 21 March and 29 April 2022 respectively. 

According to their mandate extension (MSG MSCT 128-21) and following the MSCT roadmap (MSG MSCT 089-20v2.0), the MSG MSCT started further work on the interoperability of MSCTs based on Near Field Communication (NFC) or Bluetooth Low Energy (BLE). A dedicated work-stream is currently analysing MSCT use cases based on one of these proximity technologies using the following criteria: 1 usability, technology (including innovation), security, ubiquity and compliance with applicable regulations. They are also trying to gather information on experiences from mobile payment service providers that have piloted or developed a proof of concept using these technologies for account-based payments.

The MSG MSCT started the processing of the comments received through the public consultation on the document Standardisation of QR-codes2 for MSCTs (EC024-22) which closed on 14 April 2022. The new document standardises a payee- and a payer-presented QR-code for all types of MSCTs, i.e. all payment contexts (person-to-person ( ), consumer-to-business (C2B), and business-to-business (B2B) and business-to-consumer (B2C)) while addressing both Instant Credit Transfer ( ) and payments. 

The MSG MSCT also evaluated two potential options with respect to a further international standardisation of a QR-code for (instant) credit transfers based on EPC024-22, namely ISO3 Technical Committee 68 / Sub-Committee 9: Financial services - Information exchange for financial services and CEN4.

1 Payment Service User
2 Quick-Response Codes
3 International Standardization Organization
4 The European Committee for Standardization

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