ASC X9 Call for Participants: X9.134 Mobile Financial Services Work Effort
The X9A2 Mobile Banking and Payments workgroup develops standards that support mobile financial services. The X9.134 effort seeks to develop a domestic mobile financial services standard modeled after the ISO 12812: Core Banking – Mobile Financial Services standard and technical specifications published in 2017. X9.134 consists of five parts: (1) a general framework; (2) security requirements; (3) application lifecycle management, including authentication; (4) payments between persons; and (5) payments to a retail business.
X9.134-1 has been adopted as a standard and X9.134-2 is pending re-balloting for adoption. The X9A2 workgroup has developed a draft standard for Part 3 –application lifecycle management and Part 4 – payments to persons and is seeking industry experts to participate in finalizing these standards.
X9.134 – Part 3 is focused on financial application lifecycle management as a primary consideration for stakeholders that are developing mobile financial services (MFSs). Part 3 will include specific requirements applicable to all mobile financial service providers (“MFSPs”) detailing the approach to a secure deployment and operation of an MFS application throughout the various phases of its lifecycle (e.g., subscription, installation, usage, and termination) in order to facilitate and promote interoperability, security, and quality of MFS services throughout the U.S.
X9.134-4 – Mobile Payments to Persons will include specific requirements applicable to all mobile financial service providers (“MFSPs”) detailing requirements, recommendations, and guidance for offering MFSs for mobile payments to persons.
The X9A2 workgroup is issuing a Call for Participants. If you would like to participate in this workgroup please contact X9 staff and state which standard(s) you would like to work on.
To learn more about other X9A initiatives click here.