The EPC multi-stakeholder group on mobile initiated SEPA (instant) credit transfers (MSCTs) has prepared the third release of the “Mobile Initiated SEPA (Instant) Credit Transfer and technical Interoperability Guidance”, following the public consultation held in the third quarter of 2024.
This new release essentially focuses on technical interoperability aspects. A selection of a limited number of use-cases is detailed in the document, which are representative for payee-presented mode, payer-presented mode and the mode relying on Payment initiation Service Providers (PISPs). The detailed processing flows which are aligned with the selected use-cases and relevant for successful and unsuccessful transactions, in contexts requiring interoperability, were also included. Whilst more details on some topics were covered in the previous version or separate EPC publications (e.g. security aspects, use of proximity technologies, overview of underlying SEPA SCT and SCT Inst schemes, specification of QR-codes for MSCTs), for simplification purposes other options for the related maintenance process will be followed, so that these topics are no longer developed in the third version. A thorough review and relevant updates, e.g. in the light of the recently adopted European Union (EU) regulation on Instant Payments (IPR), were also made.
This version still defines the minimum data sets for all interoperability messages between the respective MSCT service providers of the payer and the payee. The additional interoperability models involving PISPs or a Collecting PSP (CPSP) on behalf of the merchant have been maintained and updated. Finally, the document identifies the main interoperability challenges but also opportunities for MSCTs.
Note that subjects such as business cases and revenue models for the MSCT value chain are in the competitive space and therefore are not addressed in this document.