The latest requirements from MasterCard support advancements in mobile payments, including features such as personal identification number (PIN) entry via a mobile device to authorise a transaction.

All European acquirers must ensure that from 1 July 2013, M-TIP projects for point-of-sale (POS) terminals and automated teller machines (ATMs) comply to the latest MasterCard PayPass Specification v.3.0.1. Furthermore, from 1 January 2014, acquirers can no longer equip new merchants with PayPass v.2 terminals, as every deployment must be based on this latest specification. Ensuring compliance to the new MasterCard PayPass Specification will promote consistent and secure adoption of contactless and mobile payment transactions across Europe.

FIME supports acquirers working to achieve MasterCard qualification through its enhanced test tools and services. Using the SAVVI test analysis tool with FIME test cards qualified by MasterCard, acquirers have the ability to debug and test the compliance of a contactless and mobile payment acceptance terminal in preparation for formal MasterCard approval and, ultimately, market implementation. For acquirers who need a fast route to certify contactless terminals, FIME also provides on-site certification testing of POS and ATM terminals by an expert test consultant.

Vincent Poty, Head of Strategy and Corporate Development at FIME, comments: "Migration to the MasterCard Specification, and other such industry contactless standards, inspires market confidence by promoting a defined, agreed and secure way to implement new technologies. It also offers guarantees to stakeholders that products will inter-operate successfully once live in the marketplace."

Acquirers deploying contactless and mobile payment products can purchase FIME's SAVVI tool to use in-house or as part of FIME's consultancy services. The SAVVI test analysis tool is currently used by the FIME service laboratories during the certification of all contactless and momobile payment acceptance terminals. The tool has automatic update functionality to ensure immediate compliance with the new MasterCard PayPass Specification and any other future changes of official standards.

Concluding, Vincent adds: "While we have been talking about contactless and mobile payments for some time, the landscape is still relatively new and its structure is emerging. Our team spends significant time working with standard bodies across payments, transport and other mobile services markets to not only understand the business and technical activity today, but also future evolutions. As a result, many banks looking to deploy mobile products to their customers are developing long-term strategies and working with partners, such as FIME, to ensure sustainable and scalable programmes are implemented."