Recommendations on Interoperability Standards

Transcription

1 Recommendations on Interoperability Standards by MPFI Technology Committee 27 th February 2009

2 Scenarios A. Transaction with Pre-Registered Party Customer enters full details of Beneficiary one-time into mobile payment application: Name, Mobile no., Bank, Account no. For payment: Customer selects Beneficiary record Enters: Amount, PIN Payment is processed and Beneficiary notified

3 Scenario B. Transaction with New Party Beneficiary enters: Collect Rs. 75 from Customer gets request: Pay Rs. 75 to Timothy Gonsalves? Customer confirms with PIN Beneficiary is notified

4 Entities Customer TSP TSP MPP C Bank C Ref. interfaces Beneficiary TSP Settlement MPP B1 Bank B Customer, Beneficiary: registers mobile number with Bank(s). Selects one bank account as default MPP (Mobile Payment Provider): Bank may provide its own MPP, or use services of 3 rd party MPPs TSP: telecom service provider Settlement: NEFT/RTGS/NFS or future evolution MPP B2 Mobile app: not standard

5 Option 1: Bank-Centric Pull Process Beneficiary Beneficiary's Bank/MPP Customer's Bank/MPP Customer 1. Pay RsX, C's Ph# 2. Broadcast C's Ph# 3.C's Bank replies with default a/c# 4.Sends transfer request 5.Verifies the Tx information 8.Beneficiary 7. Confirms Confirms Notified6. 9.Transfer to Beneficiary's Bank

6 Option 1: Bank-Centric Push Process Beneficiary Beneficiary's Bank/MPP Customer's Bank/MPP Customer 2.Broadcast B's Ph# 1.Pay Rs X, B's Ph# 3.B's Bank replies with default a/c# and B's name 4.B's name is sent to avoid error 7.Inform abt payment 6.Send payment Request 5.Confirms 8.Accepts 10.Notified 9.Transfer to B's Bank

7 Option 2: TSP-Assisted Pull Process Beneficiary Beneficiary's Bank/MPP Beneficiary's TSP Customer's TSP Customer's Bank/MPP Customer 1. Pay RsX, C's Ph# 2.Get C's name, bank 3. C's name, bank 4.Sends transfer request 5.Informs C of the transaction 7.Beneficiary Notified 6. Confirms 8.Transfer to Beneficiary's Bank

8 Option 2: TSP-Assisted Push Process Beneficiary Beneficiary's Bank/MPP Beneficiary's TSP Customer's TSP Customer's Bank/MPP Customer 2.Get B's name, bank 1. Pay RsX, B's Ph# 3. B's name, bank 4.Inform C of B's name 6.Sends payment request 7.Inform abt the payment 5. Confirms 8. Accepts 9. Notified 10.Transfers to Beneficiary's Bank

9 Messages Message formats standardised between: MPP to MPP MPP to Bank Bank to Bank MPP to TSP Based on ISO 8583 Every message to carry reference number Message routing based on <BankId, MPPid> Messages transmitted reliably (using acks)

10 Mandatory Data Elements Customer Initiated Transaction Beneficiary Phone No. Amount MPP to provide Unique Sequence Number Date and Time of Transaction Translation of Mnemonics Beneficiary Initiated Transaction Customer Phone No. Amount

11 Message Format: MPP to MPP Main data elements required in the request are Beneficiary Mobile/proxy number Beneficiary name Transaction Type Amount Transaction Identifier Originating MPP ID Sender Mobile/Proxy number Sender Name

12 Message Format: MPP to MPP Response can have additional data elements Authorization code Response code Beneficiary Name

13 Message Format: MPP to Bank Main data elements required in the request are customer Mobile/proxy number/account number/card Number (based on payment instrument used) Transaction Type Amount Transaction Identifier Originating MPP ID Sender Name/Account Number Beneficiary Name/Account Number

14 Message Formats The message formats support several transaction types: Merchant payments (sales) P2P money transfers Mobile Banking transactions Balance enquiry, Mini Statements Message formats support several payment instruments: Bank accounts Credit cards Debit cards Prepaid cards

15 Sample Message format

16 Summary Users must register default bank+a/c Choice with multiple banks+a/c supported Mapping of mobile no. to name+bank: Either Bank-centric or TSP-assisted Initially: broadcast query Future: central RBI-database or TRAI-database Pull and Push supported Settlement: Initially: using NEFT/RTGS/NFS/ (cost? capacity?) Future: may evolve into RBI transaction settlement agency depending on cost/capacity constraints Message formats based on ISO 8583

17 Next Steps Approval of the proposal Fine-tuning and freezing of standards Implementation and deployment Conformance and Security Testing: DIT has approved funding for Mobile Payment Certification Lab at IIT-Madras