Question:

a) List and explain the main components of the MACSS.

b) S.W.I.F.T. monitors the payments traffic of members of the MACSS Closed User Group (CUG) and will direct any payments designated as MACSS RTGS payments to the FIN Y-Copy Service. Briefly explain the how FIN Y-Copy service works.

c) Outline explain the content requirements of specific MACSS payment messages.

d) Describe the different security aspects that need to be taken care of by mobile application developers, wireless network services providers and the banks IT departments to be able to deal with secure mobile financial transactions.