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Mobile Payments and Banking– Architecture and Security recommendationProject DetailsFSTC and its industry partners The Clearing House, The Federal Reserve, ABA, BITS, PaymentsNation, NACHA, and SWIFT are working with the telecommunication industry to develop the technology framework for a secure interoperable process that provides expanded customer service and profit center opportunities in mobile payments. This initiative will play an important role in identifying and documenting the technology that will enable banks to meet growing customer demand for mobile payments. The project has completed phase 1 which identified the current environment and documented use cases. Phase 2 will focus on the Architecture and Security. FSTC is also focusing on how to work with other industry groups to insure more collaboration. Additional phases will and likely focus on the goal of a pilot and how to drive adoption of a standard that can be deployed for the industry. The overall multi-phased project plans to submits a proposed standard that allows customers to use any handset, on any carrier, to perform secure financial transactions where the parties could do business at different institutions. Project ManagerJim Pitts Project phaseGathering Participants for phase 2 and publishing phase 1 deliverables Project DocumentsTo see the documents associated with this project, you must sign in or join FSTC
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