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ISO/TS 12812-4:2017

Core banking - Mobile financial services - Part 4: Mobile payments-to-persons
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ISO/TS 12812-4:2017

Core banking - Mobile financial services - Part 4: Mobile payments-to-persons

PUBLISH DATE 2017
ISO/TS 12812-4:2017

ISO/TS 12812-4:2017 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).

ISO/TS 12812-4:2017 includes the following items:

  • a) requirements applicable to mobile payments-to-persons;
  • b) recommendations regarding mechanisms involved in the operation of interoperable mobile payments-to-persons;
  • c) a description of the different use cases for mobile payments-to-persons;
  • d) a generic interoperability model for the provision of different mobile payments-to-persons;
  • e) recommendations for the technical implementation of the generic architectures for the mobile payments-to-persons program;
  • f) recommendations for mobile remittances;
  • g) use cases with the corresponding transaction flows;
  • h) discussion of the financial inclusion of unbanked and underbanked persons (Annex A);
  • i) some legal aspects to consider for mobile payments-to-persons (Annex B).

ISO/TS 12812-4:2017 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. a three-layer high-level architecture for mobile payments-to-persons programs;
  2. payments instruments sustained by these programs;
  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.

SDO ISO: International Organization for Standardization
Document Number ISO/TS 12812
Publication Date March 1, 2017
Language en - English
Page Count
Revision Level
Supercedes
Committee ISO/TC 68/SC 7
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