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

Payments & FinTech Lawyer

Volume: 1 Issue: 13
(October 2007)


The GSM Association (GSMA), a global trade association for mobile operators and Western Union, a global money transfer provider, have announced a deal to facilitate cross-border mobile payments for the world's three billion mobile users. / read more

The UK Government has rejected a recommendation that it should introduce legislation making banks liable for losses incurred as a result of e-fraud. / read more

The European Commission "intends to adopt a decision on MasterCard's cross-border interchange fees by the end of this year", said its Spokesman on Competition, Jonathan Todd. / read more


Having recently attended the Prepaid Cards Summit in London, it is clear that one year on from the previous event a measure of sober realisation has set in on those in the prepaid cards industry. Gone are the graphs with exponential growth lines, instead replaced by discussion on what parts of the prepaid cards industry are proving viable. An area of particular interest is the corporate prepaid cards market, or 'B2B' sector. / read more

The key to protecting interchange fees from over regulation is proving their value to merchants, argues Aneace Haddad, chairman of Welcome Real-time. Haddad's company has developed a product that allows merchants to use data stored inside payment cards to deliver targeted promotions to customers at point-of-sale. Haddad explains how solving a problem for merchants, such as marketing, could lead to acceptance of interchange fees as a useful component in the payments environment. / read more

E-Finance can be compliant with Shari'ah law, as long as its principles are correctly followed, offering conventional banks the opportunity to compete with the sector's major operators in Malaysia and the UAE. Akbar Merchant and James Shaw, of Kennedys, explain what steps conventional banks must take to comply with Shari'ah law, before offering Islamic e-finance products to customers. / read more

China has established its National Advanced Payments System (CNAPS), a nationwide, state supported interbank payment system that facilitates real time settlements for large payments and a one-sided entry system for smaller volume bulk transfers. Manuel E. Maisog, a partner in the Beijing office of Hunton & Williams LLP, explains the System and other payment developments in China. / read more

The Canadian Payments Association, the federal body which operates Canada's national clearing and settlements systems, is introducing the capture and clearance of cheques electronically. The system is expected to lead to a renaissance of cheque usage, offering improved processing, transportation, fraud and security benefits. Michael D. Lipton QC and Chad Finkelstein, of Elkind & Lipton LLP in Toronto, examine the issues. / read more

In a recent class action lawsuit (Douglas v United States District Court) the Court of Appeals ruled that a customer cannot be bound by the modified terms of a service contract if they did not receive proper notice of the modifications. Because many internet-based businesses rely on statements making the customer liable for checking for updates to contract terms, the Court of Appeals' decision could have ramifications for e-finance and e-payments companies that conduct their business online, explain Mark R. Weinstein, Heidi L. Keefe and Melissa Keyes, of White & Case LLP. / read more

Since European politicians drew up the Lisbon Agenda in 2000, which laid the foundations for the Single European Payments Area, the changing use of the internet has drastically changed how consumers interact with the payments environment. Mark Chirnside, chief executive officer of Smart Voucher Ltd., explains his belief that these developments have advanced beyond the scope of the SEPA and the Payment Services Directive. / read more

An amendment to the banking card model contract issued by the Groupement des Cartes Bancaires has authorised co-branding of banking cards in France since 1 October 2007, enabling significant opportunities for banks and brands in a country where regulatory restrictions previously limited such opportunities. Benjamin May and Lise Breteau, of Aramis, set out the developments. / read more

About Payments & FinTech Lawyer

The monthly publication covering legal, regulatory and policy developments relating to the fast-moving payments and FinTech sectors. Key topics include mobile payments, e-money, prepaid and other payment cards, online banking, digital currencies such as Bitcoin, card fraud and other cyber crime, RegTech, robo-advice, P2P lending, and crowdfunding, as well as regulatory regimes such as the Second Payment Services Directive (PSD2), the Payment Accounts Directive, and the Fourth Anti-Money Laundering Directive / read more

Search Publication Archives

Our publication archives contain all of our articles, dating back to 2006.
Canít find what you are looking for?
Try an Advanced Search

Log in to payments & fintech lawyer
Subscribe to payments & fintech lawyer
Register for a Free Trial to payments & fintech lawyer
payments & fintech lawyer Pricing

Social Media

Follow payments & fintech lawyer on TwitterView our LinkedIn Profilepayments & fintech lawyer RSS Feed