The European Payments Council (EPC) has published the second edition of its “White Paper on Mobile Payments.”
According to EPC, the white paper focuses on the usage of the mobile payments in the Single Euro Payments Area (SEPA) and explores how m-payment services can be delivered through cooperation between service providers in the payment industry and players within the mobile ecosystem.
This edition of the report also covers mobile wallets and contactless mobile payments – in particular, use cases for mobile remote card and SEPA Credit Transfer payments.
For the purposes of the report, EPC has divided mobile payments into two categories: remote m-payments, where two parties are able to send and receive or exchange funds using the mobile channel, irrespective of where they are located; and contactless m-payments, where the mobile device needs to be ‘waved’ in close proximity to a point-of-sale terminal. The EPC says it aims to support the advancement of both types of m-payments to ensure the development of a sustainable infrastructure.
Click here to access the paper.