Core banking. Mobile financial services - Mobile payments-to-persons

Core banking. Mobile financial services - Mobile payments-to-persons

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1   Scope

This document provides comprehensive requirements and recommendations, as well as specific use cases for implementation of interoperable mobile payments-to-persons.
The emphasis is placed on the principles governing the operational functioning of mobile payments-to-persons systems and processes, as well as the presentation of the underlying technical, organizational, business, legal and policy issues, leveraging legacy infrastructures of existing payment instruments (see ISO 12812‑1:2017, Annex C).
This document includes the following items:
  1. a) requirements applicable to mobile payments-to-persons;
  2. b) recommendations regarding mechanisms involved in the operation of interoperable mobile payments-to-persons;
  3. c) a description of the different use cases for mobile payments-to-persons;
  4. d) a generic interoperability model for the provision of different mobile payments-to-persons;
  5. e) recommendations for the technical implementation of the generic architectures for the mobile payments-to-persons program;
  6. f) recommendations for mobile remittances;
  7. g) use cases with the corresponding transaction flows;
  8. h) discussion of the financial inclusion of unbanked and underbanked persons (Annex A);
  9. i) some legal aspects to consider for mobile payments-to-persons (Annex B).
The document is structured as follows:
  • - Clause 6 sets forth the requirements that a mobile payments-to-persons program must comply with.
  • - Clauses 7, 8 and 9 provide the different levels of implementation for the interoperability of mobile payments-to-persons.
  • - Clause 7 describes the interoperability principles for mobiles payments-to-persons.
  • - Clause 8 describes:
    1. 1) a three-layer high-level architecture for mobile payments-to-persons programs;
    2. 2) payments instruments sustained by these programs;
    3. 3) processing details for a series of significant use cases of mobile payments-to-persons using these payment instruments.
  • - Clause 9 provides a step-by-step data flow description for different mobile payments-to-persons implementations: bank-centric, non-bank centric and card-centric. They can be mapped into the processing use cases of Clause 8, where abstraction is made in the nature of the payment service providers.