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: 2 Issue: 6
(June 2008)


A draft framework detailing the role of a Trusted Service Manager (TSM), which will oversee the relationship between banks and mobile operators in accelerating mobile payments, is to be released by the European Payments Council (EPC) and the GSM Association (GSMA) early next year. "We will try to have a draft contractual framework in place early next year", said Dag-Inge Flatraaker, Chairman of the EPC Mchannel Expert Group, following a 30 June agreement between the EPC and the GSMA. "A consultation will then allow stakeholders to present their view". / read more

Her Majesty's Treasury (HMT) will launch a second consultation on the Payment Services Directive (PSD) before the end of July. "Some issues raised in the June 'Summary of consultation responses' will come back to the table", said Angela van der Lem, Senior Policy Adviser at HMT, speaking at the PSD Intensive on 10 July, organised by E-Finance & Payments Law & Policy and Sidley Austin LLP. "Notably, the scope of the PSD, one-leg payment transactions and lowering the safeguarding threshold to £50". / read more

eBay has scrapped plans to require all payments on its Australian site to be made using PayPal or cash, however will still require sellers to offer PayPal as a payment option. 'eBay has withdrawn its notification to the Australian Competition and Consumer Commission (ACCC) about removing other payment methods', read a 3 July eBay statement. 'eBay requires all sellers to offer PayPal as a payment choice on'. / read more


Payment card fraud of over £500 million was reported by APACS, the UK payments association, in 2007. Nearly £150 million of this was due to skimmed or cloned cards, and nearly £300 million due to 'card not present' fraud. / read more

A minor amendment to the 2008 Banking Code suggested that customers could be held liable for online banking fraud losses if they do not keep anti-virus software on their computer up to date. Jonathan Davies and Richard Burger, of Reynolds Porter Chamberlain LLP, examine the difficulties of proving that a customer has failed to update their computer, requirements to treat customers fairly and if legislation is needed, as in other countries. / read more

The Financial Services Authority has published a report on its latest internet sweep of 17 insurance comparison websites. Tim Wright, Rafi Azim-Khan and Dominic Hodgkinson, of the Global Sourcing Department at Pillsbury Winthrop Shaw Pittman LLP in London, highlight the report's main findings and recommendations. / read more

Lack of nearby traditional banking services, know your customer provisions and illiteracy act as barriers for many people in Africa to traditional banking services. Simon Cavill, responsible for Strategy and Account Management at Mi-Pay Ltd, which provides encryption services for financial transactions made by mobile phone, explains how these barriers have forced the growth of mobile payments and how international transfer of airtime to Africa is becoming the preferred remittance method for migrants working in the EU, due to the lack of rules governing international top-ups. / read more

A survey conducted on behalf of NetIQ reveals how far companies have progressed with implementing the Payment Cards Industry's Data Security Standard since the compliance deadline at the end of 2007. Geoff Webb, Senior Manager of Product Marketing at NetIQ, details the challenges to implementation that companies have faced, their perception of the benefits of compliance as compared to the actual benefits, as well as the penalties available for non-compliance. / read more

At the end of May, the payments industry began to role out the Faster Payments Service, following a 523% rise in internet banking over the last seven years. Sandra Quinn, Director of Communications at the Association for Payment Clearing Services, explains the development, use and future of the Faster Payments Service. / read more

Commercial Payments International (CPI) published its white paper, 'The Drivers of Growth in Electronic Commercial Cards and Payments', in July 2008. Joanne Robinson, a Principal at CPI, addresses the key drivers of growth in the electronic commercial cards and payments industry and how each one acts as a catalyst in very different ways. / 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