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ASC X9 seeks expert participants for new mobile payments standards

Friday 21 August 2020 09:48 CET | News

The Accredited Standards Committee X9 has announced that it is seeking expert participants for two new mobile financial services standards. 

The new parts of a suite of standards for mobile banking and payments will continue the process to adapt and augment ISO 12812 as a US national standard. Additional participants who have interest in this area are invited to join the effort. Mobile financial services (MFS) are an evolving and fragmented market with a broad range of solutions. The challenges in adapting the international standard for US usage arise from the evolution of industry models since the 2017 release of ISO 12812, and from the fact that it is partly based on international perspectives that do not apply to the US market. 

X9's work includes the critical aspect of developing common terminology and basic principles for the design and operation of MFS. The X9 effort is tackling the different parts sequentially: this approach ensures that all stakeholders have an opportunity to provide input on the areas that most directly affect them. 

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Keywords: ASC X9, Accredited Standards Committee X9, experts, mobile payments, mobile payments standards, mobile financial services, MFS, ISO 12812, US, United States, international standard, US market, stakeholders
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United States
This article is part of category

Banking & Fintech