The releases today its white paper on mobile payments for a three-month public consultation. This document aims to contribute to the evolution of an integrated market for mobile payments across the Single Euro Payments Area (). All stakeholders are invited to provide their feedback by 1 September 2016.
Mobile phones in Europe have achieved full market penetration and offer rich services, including for daily payments. According to the GSM Association, smartphones now account for 60% of the connections in developed markets. They are, therefore, an ideal channel for payment instruments (credit transfers, direct debits, cards).
The white paper aims to contribute to the harmonisation of mobile payments in Europe
Though paying with a mobile device (for proximity and remote payments) is becoming more and more frequent, is still at the early days of a complete harmonisation of mobile payments. The aim of this harmonisation is to reach a more uniform and improved consumer and merchant experience in an integrated market. This would be beneficial in terms of convenience, cost-effectiveness, trust, and competitiveness.
The ’s white paper aims to inform stakeholders, including payment service providers, mobile network operators, merchants and any interested party, about the ’s commitment to an integrated market for mobile payments in . It further endeavours to offer a better insight into the potential of the mobile channel to build on payment instruments.
A global overview of the mobile payment market landscape, at the forefront of technologies
In its overview of mobile payments for , the white paper includes information about cutting-edge areas and players of mobile payments. The has considerably updated the white paper since its last release in 2012, in order to include new types of mobile proximity payments (such as those based on Quick Response – QR- code), while addressing also the new technologies that entered the mobile ecosystem, e.g. Host Card Emulation (HCE) technology, enabling mobile devices to emulate a contactless card, or tokenisation (i.e. the usage of payment ‘tokens’ –substitutes- instead of real payer related account data in payment transactions), and the new stakeholders which entered the market.
For each focus area of mobile payments (proximity and card-based) a detailed analysis is provided in the document, through the specification of key use-cases.
Furthermore a description of the ecosystem, the high level architecture and the most important infrastructure aspects are also outlined. The concept of mobile wallets is briefly introduced.
The latest card industry self-regulation guidelines (the Cards Standardisation Volume), the new ISO standard 12812 under development on mobile financial services, and the recent and work on instant payments and mobile person-to-person payments have been taken into account.
Stakeholders are invited to provide feedback by 1 September 2016
The document is written in a non-technical style in order to be accessible to all stakeholders. The welcomes all interested stakeholders' input on the information presented in this white paper, until 1 September 2016. The documents related to the public consultation are available here. All comments will be analysed by the ’s mobile payment expert group, and an updated version is expected to be published in December 2016.
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