ISO/TS 12812-5:2017

Core banking — Mobile financial services — Part 5: Mobile payments to businesses

ISO/TS 12812-5:2017 focuses on mechanisms by which a person ("consumer", "payer" or "business") uses a mobile device to initiate a payment to a business entity ("merchant" or "payee"). Such a payment may use the traditional merchant point of interaction (POI) system, where the manner of settling the payment follows well-established merchant services paradigms. Additionally, there are other ways for a consumer to make a payment to a merchant, using the mobile device to initiate, authorize and process transactions outside of traditional payment networks using secure payment instruments. Accordingly, this document supports both "push" and "pull" payments (i.e. transactions that are pushed or transmitted from a mobile device into a POI or pulled or received into a mobile device or POI), which are initiated and/or confirmed by a consumer to purchase goods and or services, including proximate payments, remote secure server payments, as well as mobile payments that leverage other technologies [e.g. cloud computing, quick response ("QR") codes, biometrics, geo-location and other methods to authenticate and authorize the transaction]. One of the most important aspects of the MFS environment is mobile payments to businesses. There are many ways a consumer, or a business as a consumer, can make a payment to a merchant. ISO 12812 provides a comprehensive standard for using the mechanisms involved in mobilizing the transfer of funds regardless of who is involved in the process. This document is intended to be used by potential implementers of mobile retail payment solutions, while ISO 12812-4 is intended for potential implementers of solutions for mobile payments to persons. NOTE ISO 12812‑1:2017, 5.4 explains the differences in the use of these terms. As such, the ISO 12812 (all parts) seeks to support all possible technologies and is not designed to highlight or endorse specific technologies in the competitive marketplace. Although this document deals with mobile payments made by a consumer or a business acting as a consumer, which transactions are subject to a variety of consumer protection requirements, in terms of the relationship to the MFSP, the consumer (or business) is the customer of the MFSP. Nevertheless, this document will use the term "consumer."

Opérations bancaires de base — Services financiers mobiles — Partie 5: Paiements mobiles à entreprises

General Information

• Status: Published
• Publication Date: 27-Mar-2017
• ICS: 03.060 - Finances. Banking. Monetary systems. Insurance
• Technical Committee: ISO/TC 68/SC 9 - Information exchange for financial services
• Drafting Committee: ISO/TC 68/SC 9 - Information exchange for financial services
• Current Stage: 9060 - Close of review
• Start Date: 04-Jun-2027

Relations

• Consolidated By: ISO 18593:2018 - Microbiology of the food chain — Horizontal methods for surface sampling
• Effective Date: 06-Jun-2022

Standards Content (Sample)

TECHNICAL ISO/TS
SPECIFICATION 12812-5
First edition
2017-03
Core banking — Mobile financial
services —
Part 5:
Mobile payments to businesses
Opérations bancaires de base — Services financiers mobiles —
Partie 5: Paiements mobiles à entreprises
Reference number
ISO/TS 12812-5:2017(E)
©
ISO 2017

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ISO/TS 12812-5:2017(E)

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ISO/TS 12812-5:2017(E)

Contents Page
Foreword .iv
Introduction .v
1 Scope . 1
2 Normative references . 1
3 Terms and definitions . 2
4 Requirements of a mobile payments-to-businesses system . 2
4.1 Device, network and application selection requirements . 2
4.2 Security requirements . 3
4.3 Logging requirements . 3
4.4 Notice requirements . 4
4.5 Receipt requirements . 4
4.6 Data privacy requirements . 4
5 Types of mobile payments . 5
5.1 Mobile proximate payments . 5
5.2 Mobile remote payments . 6
5.3 Other mobile payments technologies . 6
5.3.1 Quick response (QR) based payments . 6
5.3.2 Mobile payments through short messaging service (SMS) . 6
5.3.3 Mobile payments through mobile airtime . 6
5.3.4 Mobile wallet . 6
6 Payment instruments .
...