The ad-hoc multi-stakeholder group (MSG) on Mobile Initiated Credit Transfers, including instant transfers (MSG MSCT) which is facilitated by the , held its fourth Plenary meeting on 13 December 2018. A presentation was made during the meeting on the Westhafen Group Initiative which is a co-operation of the willing consisting of a small set of corporate banks that discusses the challenges to bring Instant to their corporate clients.
Next status reports were provided on the progress made by the two established work-streams: MSCT use cases and MSCT risk & security. The draft document on MSCT use cases was finalised and will be distributed for review and comments to the MSG Plenary and to the MSCT Interest Group.
Good progress was also made on the MSCT risk and security aspects and a few unclarities related to the interpretation of the revised Payment Services Directive ( ) and the Regulatory Technical Standards ( ) for strong customer authentication ( ) and common and secure open standards of communication ( ) were further analysed and discussed during the meeting. The European Commission promised a further investigation and feedback on these issues at the next meeting.
Finally, the new draft of the MSCT Interoperability Implementation Guidelines was presented on screen and further inputs needed were identified.