The multi-stakeholder group on Mobile Initiated (instant) SEPA Credit Transfers (MSG MSCT), which is facilitated by the European Payments Council (EPC), held its 34th Plenary meeting on 23 August 2022.
The MSG MSCT developed a new document on the Specification of QR-codes for mobile (instant) credit transfers. The document generalises the document on Standardisation of QR-codes for mobile initiated (instant) SEPA credit transfers (EPC024-22), published in June 2022 to any (instant) credit transfers and has been prepared in ISO (International Organization for Standardization) format. The document has been approved in the meanwhile by the EPC Board and published on the EPC website (see in “related documents”).
It was subsequently also submitted to ISO Technical Committee (TC) 68 Subcommittee (SC) 9 – Financial Services - Information exchange for financial services - for publication as an International Standard through a fast track procedure.
The MSG MSCT continues their work on the interoperability of MSCTs based on Near Field Communication (NFC) or Bluetooth Low Energy (BLE). The dedicated work-stream is making progress on the description of new MSCT use cases based on these proximity technologies for inclusion into the new document under development. They also aim to make an analysis on the usage, including pros and cons, of these proximity technologies for mobile account-based payments.