EPC and GSMA Introduce Consultation on SEPA Mobile Payments
The European Payments Council (EPC), the decision-making and co-ordination body of the European banking industry in relation to payments, and GSMA, representing the interests of the worldwide mobile communications industry, have released the paper ‘TSM Service Management Requirements and Specifications’ in the single euro payments area (SEPA) for public consultation.
The document describes the different roles and processes involved in the provision and lifecycle management of banks’ mobile contactless payment (MCP) applications integrated into a mobile phone. The consultation open to all interested market participants marks an important breakthrough in cross-industry co-operation between payment services providers and mobile network operators aimed at empowering over 500 million European consumers to make SEPA payments using their mobile phone.
This co-operation is the most ambitious project designed to date to build a common architecture for mobile contactless payments.
Dag-Inge Flatraaker, chair of the EPC M-Channel Group, said: “The requirements developed by EPC and GSMA will have a major impact enabling the mobile as a channel for payments in SEPA. This initiative paves the way for more efficient commercial launches of mobile contactless payments and contributes to interoperability and freedom of choice for the different stakeholders.”