This technical report (TR) analyses requirements for a universal Pre-Pay account system for EFC including the
following issues:
relations to other existing standards in this domain;
the core requirements and functionality that must be provided.
This technical report will show an analysis of the requirements for a universal prepay system and categorise
possible different types of pre-pay solutions, in terms of functionality, technical and legal considerations. As far as
legal requirements are concerned it will be clarified whether the pre-payment means fall within the scope of
European Directive 2000/46/EC on the taking up, pursuit of and prudential supervision of the business of
electronic money institutions and whether the medium-issuing organisation has to act as a financial institution and
falls within the scope of the Payment Service Directive 2007/64/EC. The latter applying exactly to payment
activities undertaken by entities but do not require a full bank license.
The technical report will describe the current state-of-affairs of EFC pre-payment systems, including the demand
for standards and inventory of provisions provided by standards. It will identify and prioritize gaps in terms of
standards or other enablers needed in order for the market to provide viable pre-payment solutions in a European
context.
There are two general approaches to represent the content of the TR:
a) allocate each requirement under each pre-pay solution;
b) allocate each pre-pay solution under each requirement.
To achieve a better understanding and readability alternative a) has been decided (this refers to Clause 8 and
Clause 9 only).
The TR does not give any decision on how or whether one of the pre-payment solutions described is commercially
feasible to be considered as an implementable offer to the Service User. The return for invest for any TSP
regarding the system architecture requirements and other obligations (refunding of SU) is questionable.
This TR just gives a summary of the requirements of possible pre-pay solutions. It is up to decision makers to
evaluate the alternatives in the light of their individual preconditions of their tolling regime and of market
acceptance.