Exposure Draft on the Interoperable Credit Transfer FrameworkRelease Date: 07 Dec 2017
7 December 2017
The consultation period for this exposure draft ends on 8 January 2018
The Interoperable Credit Transfer Framework (ICTF) seeks to foster an efficient, competitive and innovative payment landscape in Malaysia by enabling the interoperability of credit transfer services and promoting collaborative competition (co-opetition) between banks and non-bank e-money issuers through fair and open access to shared payment infrastructure.
The ICTF outlines requirements aimed at -
- Expanding network reach and avoiding market fragmentation by enabling interoperability of credit transfer services;
- Promoting a level playing field and fostering collaboration at the infrastructure level by ensuring fair and open access to shared payment infrastructure;
- Minimizing risk of disruption to system-wide important credit transfer systems through effective oversight of shared payment infrastructure;
- Encouraging innovation through the establishment of an innovation sandbox and publication of Open APIs;
- Safeguarding the safety and integrity of credit transfer systems through proportionate risk management measures; and
- Fostering confidence in the use of credit transfer services via enhanced customer protection measures.
All comments or suggestions with regard to this Exposure Draft should reach the Bank by 8 January 2018 and addressed to the following officers:
Payment Systems Policy Department
Attachment : Exposure Draft on Interoperable Credit Transfer Framework
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