Last update: 23/12/2008 14:45:20
A desk study of the current E-money developments and existing schemes in the UK, Europe and the rest of the world. There will also be discussions with key stakeholders regarding potential new services and how they might interface with ITSO. The results of the research will be used to provide guidance to the DfT on E-money issues, including potential conflicts when E-money services are used with the transportation arena.
The ITSO specification for an interoperable interface for public transport ticketing includes the potential for stored value products. ITSO security is understood to be fit for purpose for a stored value scheme limited to transport applications. However, possible vulnerabilities and possible counter measures need consideration before using it for an e-money solution.
As a stored value scheme moves from a constrained environment to become more generalised, liability gravitates to the issuer of stored value, who is not generally in direct control of the environments in which the stored value is used. There is therefore a need to consider the degree of oversight and influence over the ITSO specifications and the business rules associated with an ITSO-compliant stored value scheme by the stored value issuer.
25th Floor, City Tower, Piccadilly Plaza, Manchester, M1 4BT
Cost to the Department: £65,000.00
Actual start date: 14 August 2006
Actual completion date: 16 February 2007
Author: Jeremy Meal
Publication date: 22/10/2009
Source: DfT website
More information: http://www.dft.gov.uk/pgr/scienceresearch/orresearch/emoney.pdf