Mobey Forum has released a white paper specifying implementer guidelines for mobile remote payments. The white paper informs readers on how mobile remote payment technology can effectively be delivered to end-users by leveraging existing systems and establishing an open infrastructure.
Entitled ‘Mobile Remote Payments General Guidelines for Ecosystems’, the white paper focuses on payments where two parties are able to send and receive or exchange funds using the mobile channel, irrespective of where they are located. Examples of this include person-to-person (P2P) mobile money transfer or payment to merchant, where the mobile device does not need to be in close proximity to a point-of-sale (POS) terminal.
With contributions from a multitude of players that represent the entire ecosystem, the white paper highlights three main findings:
- The important role of the mobile phone number – known as the mobile identifier (MID) – as a proxy for bank account details. Using the MID enables a payer to initiate a fund transfer using the payee’s phone number and without the need to know their bank account or card details, ensuring customer convenience and confidentiality.
- The specific requirements vary for individual markets; what might be an efficient solution for one market might not be acceptable for another. Implementers will need to consider many factors when selecting the operating model to deploy.
- Roadmap to mass-market interoperability is key to drive adoption. The white paper suggests that financial institutions should start with today’s infrastructure and rules, and gradually evolve towards direct interoperability through standardisation and small system changes.
Ron van Wezel, chairman of Mobey Forum and director of emerging payment streams at Deutsche Bank, said: “Now that the market is starting to adopt mobile payments we believe that the time is right to provide industry guidelines to assist payment providers in deciding how to access the mobile remote payments market effectively. This will help to promote an open infrastructure, which in turn will avoid market fragmentation and improve interoperability for the benefit of the consumer.”
Banks, system integrators, payment service providers, mobile operators and services companies have all contributed to the guidelines, including: Atos Origin, BBS, Caisse d’Epargne, CellPoint Mobile, Deutsche Bank, DnB NOR, Edgar Dunn & Company, Nokia, Nordea, RBS, Redeban Multicolor, Telenor, Tieto, TeliaSonera, SWIFT and Vocalink.
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