The European Payments Council (EPC) multi-stakeholder group on mobile-initiated SEPA (instant) credit transfers (MSCTs) has published the third release of its „Mobile Initiated SEPA (Instant) Credit Transfer and Technical Interoperability Guidance” This updated version follows a public consultation held in Q3 2024 and focuses on technical interoperability.
The document outlines a selection of key use-cases representing payee-presented mode, payer-presented mode, and mode relying on Payment Initiation Service Providers (PISPs), along with detailed transaction flows for successful and unsuccessful payments in contexts requiring interoperability. While topics like security and QR-code specifications were addressed in previous versions or other EPC publications, this release does not provide further elaboration on them in the third version.
Additionally, the new version incorporates updates related to the recent EU Instant Payments Regulation (IPR), defines the minimum data sets for interoperability between the respective MSCT service providers of the payer and the payee, and maintains interoperability models involving PISPs and Collecting PSPs (CPSP). It also highlights the interoperability challenges and opportunities for MSCTs, but does not address business models or revenue strategies, which remain in the competitive domain.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
