This site would like to set some non-essential temporary cookies. Some cookies we use are essential to make our site work.
Others such as Google Analytics help us to improve the site or provide additional but non-essential features to you.
No behavioural or tracking cookies are used.
To change your consent settings, read about the cookies we set and your privacy, please see our Privacy Policy



E-Finance & Payments Law & Policy

Volume: 6 Issue: 7
(July 2012)


News

A rapid surge in mobile payment initiatives is putting pressure on banks and mobile phone operators to move into the mobile payments industry quickly, after Deutsche Telekom and MasterCard announced on 2 July they formed a Europewide mobile payments partnership. / read more

The East African Community (EAC) countries, have been praised for their success in mobile money services but should make serious efforts to harmonise the different legal frameworks that cover the mobile money industry in the region, the United Nations Conference on Trade and Development (UNCTAD) has said. / read more

The US government may need to develop new regulations in the wake of the rise in mobile payments, a Consumer Financial Protection Bureau (CFPB) official said, in a written statement made on 29 June, at a hearing on mobile payments. / read more


Features

Global
US
Africa
EU
Poland
Sweden
UK
Canada / read more

Following the lead story in last month's issue ('payments reform under pressure'), Michiel Willems spoke to Nathalie Moreno, Partner at Speechly Bircham, about the impact of the Eurocrisis on the progress of the Single European Payments Area (SEPA). / read more

Despite the challenges faced by the payment services sector since the financial crisis of 2007, the sector remains at the heart of European commerce and drives the development of the European economy. However, the sector continues to be dominated by the use and reliance on cash to complete transactions. In June 2012 the UK British Retail Consortium published its 'Cost of Payment Collection Survey', which confirmed that 58.3% of transactions in 2011 were completed using cash, an increase of 5.7% from 2010. This is consistent with the overall conclusions drawn by the Deutsche Bundesbank with respect to consumer behaviour in Germany. / read more

The payments space has seen a succession of consultations, directives and authority led reports aimed at solving the discrepancies and streamlining the ever evolving European payments landscape. Robert Courtneidge, the Global Head of Cards and Payments at Locke Lord LLP, examines the moves made so far to integrate and regulate the European payments market, the industry responses and the areas of concern. / read more

In the final installment of the two part series, Michiel Willems and Sophie Cameron speak to Darren Hodder, Director at Fraud Consulting Ltd, about the necessary steps to prevent cybercrime, the security concerns surrounding mobile payments and the value of information sharing. / read more

The Consumer Financial Protection Bureau has been in force for a year in the US, supervising banks, issuing regulations and investigating financial services practices. John K. Van De Weert, a Partner at Sidley Austin in Washington D.C., analyses the first year of enforcement and discusses the updates expected for the upcoming second year. / read more

As part of the wider Retail Distribution Review, the Financial Services Authority recently launched a consultation which follows its August 2011 Policy Statement outlining its proposed ban on commission payments by product providers to platform providers and cash rebates to consumers. Tim Wright, a Partner at Pillsbury Winthrop Shaw Pittman LLP, reviews the new rules proposed by the FSA. / read more

In the wake of an increase in data breaches coupled with the escalating need for businesses to outsource and migrate data to third parties, it is important for those businesses to adopt a risk based approach at every stage of the relationship. Neira Jones, the Senior Vice President for Cybercrime at the Centre for Strategic Cyberspace and Security Science, and the Head of Payment Security at Barclaycard, examines the current statistics and provides a checklist for businesses embarking on partnerships with third parties. / read more


Recent Searches:
pimlott   john worthy   change   return   Mastercard   city   state   poland   Stephen J. Redican   payments  


Popular Searches:
warns   eu   sepa   B   B   B   B   fraud   PCI   pci  


About E-Finance and Payments Law and Policy

The monthly law journal covering legal issues in banking, e-finance, e-money and online payments including, mobile payments (m-payments), micropayments, pre-paid cards and other payment cards, online banking, NFC (near field communication) and other contactless payments, digital currencies such as Bitcoin, mobile wallets and virtual money, e-invoicing, e-billing and e-payments, card fraud and other cybercrime, as well as regulatory regimes such as the E-Money Directive (EMD and 2EMD), the Payment Services Directive (PSD), SEPA, the US Electronic Money Regulations 2011, and the UK Bribery Act 2010. / read more