To ensure inter-operability between banks and between their mobile payments service providers, it is recommended that banks may adopt the message formats being developed by Mobile Payments Forum of India (MPFI). “Message formats such as ISO 8583, which is already being used by banks for switching of ATM transactions, may be suitably adapted for communication between switches where the source and destination are credit card, debit cards or pre-paid cards,” the RBI said.

The long term goal of mobile payment framework in India would be to enable fund transfer from account in one bank to any other account in the same or any other bank on a real time basis irrespective of mobile network a customer has subscribed to. “This would require inter-operability between mobile payments service providers and banks and development of a host of message formats. Banks may keep this objective while developing solution or entering into arrangements with mobile payments solution providers,” it said.