AP+ held its latest Payment Service Provider (PSP) Forum on 15 April 2024. Chaired by Greg Cooper, independent AP+ director, the forum considered strategy and product roadmap updates as well as reviews of eftpos merchant tokenisation activities and Confirmation of Payee (CoP) amongst others.
With the digital economy expanding at an unprecedented rate, the eftpos Token Service provides a critical layer of security, ensuring cardholders, merchants, and issuers are shielded from the vulnerabilities associated with digital payments.
eftpos Token Service provisions tokens that substitutes sensitive payment data with non-sensitive surrogate values and manages tokens throughout their lifecycle. eftpos Token Service provides a secure foundation that powers compelling omni-channel commerce experiences. AP+ went through a draft eftpos Token Service roadmap for discussion on potential future capabilities with a further spotlight on token portability, AP+ is also seeking feedback from PSPs on Click to Pay.
A review of Card Not Present (CNP) activities covered authorisation performance, compliance and fraud and dispute management processes.
AP+ is progressing well with stakeholders including Issuers, Acquirers and mobile handset operators towards the RBA expectation for mobile Merchant Choice Routing (MCR) by the end of the year.
The meeting looked at the design of the Confirmation of Payee service which will start to be deployed by financial institutions in their banking channels in 2025. Confirmation of Payee will be available to NPP Participants using Confirmed Data and/or Observed Data and made available for all t NPP payments. AP+ will hold a further session with PSPs on the design of the CoP service.
An update on PayTo heard that volumes and take up of the service continue to ramp up, together with a focus on operational performance and risk management.
Also, AP+ is continuing its proactive stance on the migration of BECS volumes across to the NPP by undertaking a comprehensive program of work focused on the readiness of the NPP as well as NPP Participant, and broader ecosystem readiness in preparation for the impending closure of the BECS framework.
Our thanks go to our in-person and remote attendees for their participation: Gregory Cooper (Chair, AP+ independent Board member), Danielle Smith (Xero), James Foster (Ezypay), Jason McAllister (Stripe), Kristofer Rogers (Volt), Raky Pathak (Merchant Warrior), Steve Price (MYOB), Tom Rundle (Azupay), Tony Crudgington (Ezidebit), Richard Miller (Zepto), Timothy Stanley (Monoova), Adrian Lovney, Alison Gemmell, Colin Sultana, Joshua Dundas, Katrina Stuart, Liz Fong, Lynn Kraus, Marnie Ryan, Naomi Nixon (all AP+).
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