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Payments & FinTech Lawyer

Volume: 5 Issue: 1
(January 2011)


Visa has announced it will develop two-tier debit card interchange fees - the fees charged to merchants to process a payment through the Visa network - in response to the US Federal Reserve's ('the Fed') 17 December 'Regulation II, Debit-Card Interchange Fees and Routing' proposal to cap those fees at a maximum level. / read more

India's 'unbanked' will soon be able to access payment and transfer systems, following two public-private partnerships to promote financial inclusion. / read more

The South Korean Ministry of Environment (MoE) announced on 27 December the launch of a 'green' credit card scheme, following its 2011 Policy Report. / read more


France / read more

On 2 December 2010, the EU Commission published a communication paper entitled 'Reaping the benefits of electronic invoicing for Europe'. The EU Commission recognises recent developments aimed at promoting the use of e-invoicing, such as the European Electronic Invoicing Framework proposed at the end of 2009 by the Expert Group for Electronic Invoicing and the adoption of the July 2010 VAT Directive 2010/45/EU which creates equal treatment between paper and e-invoices. However, the EU Commission notes that market penetration of e-invoicing in Europe remains low and believes that EU rules on e-invoicing are still fragmented along national lines. / read more

E-Finance & Payments Law & Policy talked to Gerard Hartsink, Chair of the European Payments Council, about the present and the future of the Single Euro Payments Area, and banking regulation and harmonisation. / read more

The sensitive character of payment-related data has called for the development of means to protect its transmission and storage. The rise in the number of points of contact with the data has also meant that more sophisticated means of protection need to be implemented - data-encryption being a very good example of this. Dr Carlos Cid, of the Information Security Group, discusses how encryption methods are used in the midst of financial communication channels. / read more

Developing markets pose interesting challenges in terms of internet usage, mobile phone adoption and payment systems, notably because the development of those features means social inclusion and financial growth. Vincent Kadar, CEO of Telepin, discusses how mobile money can help build secure and transparent financial infrastructures in the developing world. / read more

Although a lot of our legal paperwork is being 'digitalised', many hold on to traditional offline contracts and legal arrangements. Jon Kihlman, Partner at Gärde Wesslau, wonders why that is and explains the latest trends in the field of online contracts, the use of e-mail and electronic invoicing. / read more

Despite a certain number of advances in the regulation of the payments industry in Canada, there are still some areas that remain under-regulated. This can cause major problems for merchants, as Ruth Thorkelson, of the Retail Council of Canada discusses. / read more

Electronic invoicing is on the rise, and over the years different models have been developed and are being used in the European Union. Pieter Breyne, Director Technology at Price Waterhouse Coopers in Belgium and leader of the PwC Global e-Invoicing and e-Archiving Network, gives an overview of the different models and discusses the latest 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

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