Overcoming the barriers to creating pan-European interoperability of P...

Overcoming the barriers to creating pan-European interoperability of P2P mobile payment solutions

Update on the P2P mobile payments Steering Committee

06 June 16

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Setting up a pan-European Standardised Proxy Lookup service

Following the publication of ERPB’s recommendations for its working group on payments in June 2015, the organised a stakeholder workshop in January 2016 which attracted over 80 participants from across Europe with widely varying backgrounds. One of the main conclusions from the workshop was to organise and set up a Steering Committee to create a Forum where steps and processes can be discussed to help create a pan-European mobile payments market.

This Forum will be the coordination body of the European payments stakeholders. Its aim will be to achieve pan-European interoperability in this field, underpinned by user-friendliness, whilst also encouraging competition in the market. In particular, the Forum’s goal will be to set up an interoperability framework and a pan-European Standardised Proxy Lookup ( ) service to address the recommendations agreed upon by the . An service is recommended in order to securely exchange payment-related data on a pan-European level. Initially, the focus will be on using telephone numbers as a proxy for IBAN (see the ’s infographic below to learn more about how it could work), but the Forum will also look into enabling support for additional proxies or account identifiers.

Identifying the challenges of interoperable mobile payments the Forum will tackle

In order to launch the Forum and to reach the objectives outlined above as soon as possible, the Steering Committee must, first of all, identify the various challenges the Forum will need to tackle. These challenges range from governance, legal, technical, and security issues raised by the pan-European interoperability of payments, through to the establishment of dedicated working groups. The Steering Committee, which has already met twice, has now appointed its Chair (John Maynard from Paym) and Vice-Chair (Kasper Sylvest Olsen from Danske Bank).

In addition, the has been chosen to provide secretariat support to the Forum. It was also agreed that the Forum will be open (anyone with a relevant business interest wishing to join will be welcome), informal (with a status of ‘de facto’ association under Belgian law), and fully transparent. To this end, the documents produced by the Steering Committee will be published on the ’s website. The Steering Committee also approved the Forum’s name: Mobile Proxy Forum.

The Steering Committee will share a first intermediary status update during the ’s meeting in June 2016.

Accomplishing pan-European interoperability of mobile payment solutions will be a major accomplishment for the project, and a further step towards achieving European Union payments integration. In addition, the Instant Credit Transfer ( ) scheme, which will be published by the in November 2016 (to be implemented one year later) will increase the attractiveness of payments, due to the fact that instant and mobile payments are closely interlinked.

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