This enhanced level of clarity offered by the document will ensure adherence to an adequate level of security measures and appropriate governance by payment service providers. Bringing this document to market will enable the quick development and implementation of mobile solutions. It will achieve this by:

 

• promoting the use of open standards, which will avoid market fragmentation and the deployment of proprietary solutions with limited geographical reach;

• providing transparency to market participants by clarifying the roles of key stakeholders;

• stating the position and responsibilities of the EPC in relation to other industry bodies;

• defining the adequate level of security for the whole mobile contactless payment value chain in order to establish confidence in this environment.

In addition, the document acknowledges the different aspects of processing a mobile contactless Single Euro Payments Area (SEPA) card payment such as transaction flows, cardholder verification methods and risk management. It also provides an overview of standards and specifications defined by other standard and industry bodies active in this ecosystem, to offer an unambiguous overview of how this converging landscape interlinks with different stakeholders and their associate rules and regulations.

Throughout the development of this work, the EPC has identified further gaps that need to be addressed to ensure a secure, sustainable and scalable mobile contactless payment ecosystem that will support full SEPA market penetration for all SEs. The guidelines conclude by outlining these next steps for the industry to maximise the reach and mass market adoption of this convenient and accessible payment technology.

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