Trillium Software
     

22/11/2011

By Scott Thompson

The European Payments Council (EPC) has published guidelines for SEPA mobile contactless transactions.

These offer a description of the mobile contactless payments ecosystem and the stakeholders involved, to provide a clear understanding of the technology available and its deployment within the market. A preliminary version of the EPC's 'Mobile Contactless SEPA Card Payments Interoperability Implementation Guidelines' was made available for public consultation in April 2011. Following the evaluation of the feedback received, a final version has now been published.

This builds on previous work to focus on the interoperability of processes in the contactless m-payment application lifecycle management, when the m-payment application is stored on one of three secure element (SE) types: UICC (known as SIM card), embedded SE in the mobile phone itself or a removable secure micro SD card inserted in the mobile phone. The document also deals with aspects of a mobile contactless payment transaction and the technical and security requirements. The aim is to enable the quick development and implementation of mobile solutions by promoting the use of open standards; describing the roles of stakeholders; outlining the position of the EPC in relation to other industry bodies; and recommending an adequate level of security for the whole mobile payment value chain in order to establish confidence in this environment.

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Other stories you may find of interest:

SDD launches payments revolution - JPM, Citi, db & others unveil offerings
JP Morgan's Treasury Services division says it is already helping its clients to enhance European receivables management with its new SEPA Direct Debit (SDD) services, launched today to coincide with the inaugural day of the latest Single Euro Payments Area (SEPA) scheme. Other banks, such as Citi and Deutsche Bank are, of course, also marking this important occasion

Cameron outlines FS plans in Queen's Speech
As the nation gets used to the coalition government, what policies will survive the coupling of the Lib Dems and Tories? The recent Queen's Speech unveiled a year-long commission is to investigate breaking up the banks and how to reintroduce more competition on the High St. FST looks at what else is in store

Taking stock
So, how was it for you? Scott Thompson looks back at 2011 and asks those in the know: how did the financial services sector fare and what were the key technology developments?

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