This document 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. ISO12812 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 ISO12812‑4 is intended for potential implementers of solutions for mobile payments to persons.
NOTE ISO12812‑1:2017, 5.4 explains the differences in the use of these terms. As such, the ISO12812 (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.??