EPC explores m-payment and Sepa

EPC explores m-payment and Sepa

The European Payments Council (EPC) has published a white paper on mobile payments and the single euro payments area (Sepa).

The EPC says that with Europeans using their handsets for an ever-growing range of tasks, the mobile channel is an "ideal launch pad for Sepa payment instruments".

Says the white paper: "The availability of practical Sepa mobile payments, either account or card-based, would provide a realistic alternative to cash and cheques".

Meanwhile for merchants, mobile payments, particularly contactless, can provide cost savings, increased business volume, reduced security threat and marketing opportunities.

Gerard Hartsink, chairman, EPC, says the Council is working with groups such as the GSMA on standards and business rules for the initiation and receipt of Sepa payments by mobile. The pair launched a consultation on Sepa and mobile contactless payments in January

"The aim is to develop proposals that support collaboration and standardisation and which form the basis for interoperability. Our intention is to establish a service framework sufficient to reach potentially all payers and payees in the European Economic Area and to create a trusted and secure environment for the multiple stakeholders active in the field," he says.

Read the white paper here:» Download the document now 1.3 mb (PDF File)

Comments: (1)

Daniele Astarita
Daniele Astarita - ACI Worldwide - Naples 07 July, 2010, 09:53Be the first to give this comment the thumbs up 0 likes

It's very good to receive another sign of committment to mobile payments from EPC. I read the document , with particular focus to utilisation of the SCT product and I have to say I did not find the cases and overall business model particularly well presented. The finality of the payment should be considered more carefully and I think merchants - in order to deliver the goods - will want to know not only that "SCT has been succesfully initiated", but also that "the payment has been accepted and will be cleared asap". Maybe it's just a matter of terminology. Also, could not find references to the "e-operating model" and I wonder what are the status and evolution of such excellent scheme.

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