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Payments & FinTech Lawyer

Volume: 1 Issue: 2
(November 2006)


The UK Government has agreed to establish a new selfregulatory body, responsible for delivering the UK's payments strategy. / read more

Charlie McCreevy, European Commissioner for Internal Market and Services, told ECOFIN Ministers, Community Co-legislators and member states to `rise above the narrow national and sectoral interests' and agree `tangible text agreements' on the Payment Services Directive (PSD) in order to progress the Single European Payments Area (SEPA). He was speaking at the SEPA Congress at Euro Finance Week. / read more

The UK's Chiltern Railways is trialling mobile phone train tickets, in the form of a barcode sent via SMS (text message), for three months from 14 December. / read more


In June this year, the Australian Government commissioned a report "Exploration of Future Electronic Payments Markets". While the objective of the report was to investigate the future of electronic payments in Australia, the findings of the report will have equal importance for the payments industry in other countries. / read more

With concerns over terrorism, the current UK regulatory framework and the emergence of EU payments regulation, the UK Government has published an industry consultation proposing the licensing of money service businesses. Lady Olga Maitland, CEO of the International Association of Money Transfer Networks, assesses the proposals and sets out her views on the key issues that the Government should consider. / read more

Banks are currently watching rapid developments in the pre-paid card industry before deciding if they will enter the market. Mike Pickup, business development director for ID Data, which supplies cards and solutions to the industry, highlights how this situation has led to the formation of the Pre-Pay Card Association, which he heads, which will protect small or start up companies and develop industry best practice. / read more

With the implementation of the SEPA model due by the end of 2010, banks and other organisations can start to focus on implementation of policies to meet this deadline. The findings of the recent World Payments Report 2006 illustrate that although there are major challenges ahead, a critical mass of adoption can be reached. This article, written by the three authors of the Report, ABN AMRO, Capgemini and the European Financial Management & Marketing Association, sets out its key findings and the challenges facing banks as they prepare for SEPA. / read more

Pre-paid payment products, or methods of payment other than using cash or credit cards, are increasing in popularity in Germany. Anne-Juliane Knauer and Katrin Schreiber, of Baker & McKenzie's Frankfurt office, provide an overview of the most popular products, detailing the licensing requirements in Germany to be met when issuing pre-paid payment products. / read more

The growth of the bank-issued gift card market has led the U.S. Office of the Comptroller of the Currency to issue gift card guidance. Joel D. Feinberg and Amber M. D'Alessio, of Sidley Austin LLP's Washington D.C. office, examine the importance of the aims outlined in the guidance. / read more

Charlie McCreevy, European Commissioner for the Internal Market and Services, is keen to push through the Payment Services Directive to create a Single European Payments Area, however a lack of agreement on the text of the Directive is causing delays. Denis Beau of Banque de France highlights four concerns he feels should be adressed before the Directive is passed. / 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

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