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Payments & FinTech Lawyer

Volume: 6 Issue: 1
(January 2012)


The European Commission (EC) published on 11 January its long-awaited Green Paper on how the European Union (EU) should overcome difficulties in creating an integrated market for card, internet and mobile payments. / read more

NTT Docomo, the largest mobile phone operator in Japan, has announced the formation of a consortium of telecoms and banks, which will aim to coordinate the adoption of international standards for near field communication (NFC) technologies in the Japanese market. / read more

The Central Bank of Nigeria (CBN) kicked off its controversial Cashless Lagos project on 3 January, introducing limits on how much paper money can be withdrawn and imposing deposit restrictions in a bid to encourage the use of electronic and mobile payments. / read more


Israel / read more

The Green Paper consultation launched by the European Commission on 11 January 20121 presents a welcome opportunity for participants in the payments industry to assist the Commission in identifying ways to improve market integration. / read more

As the growth of mobile payments gathers momentum, many players are looking more closely at how to secure anticipated revenue streams. For some, the emphasis is on supporting existing revenues, while others are focussed on the ability to leverage mobile payments data to generate 'add-on' services. In both cases, the revenue streams will need to be protected technologically and contractually, as John Worthy, Partner at Field Fisher Waterhouse, explains. / read more

One of the relevant security requirements for online businesses is the Payment Card Industry Data Security Standard (PCI DSS). In this article - the last part of a three-part series - Dr Sam De Silva, Partner at Manches LLP, looks at the enforcement of PCI DSS. / read more

Online fraud, hacking and cybercrime are ever more a headache for the financial services industry. Michiel Willems talks to David Excell, the Chief Executive of Featurespace, David Excell, about fraud detection and prevention. / read more

Cloud computing is forecast to grow significantly over the next few years. A number of reasons are put forward for this growth based on the advantages that cloud computing can offer. Many banks, financial services and payment processors are keen to join the cloud community, but a number of legal issues and industry concerns have made the financial services industry a slow adopter of cloud computing. Mark Bailey and Louise McAdam, of Speechly Bircham LLP, discuss the opportunities and examine the legal issues. / read more

How does a person without a credit card or a bank account conduct commerce using a phone? Mobile commerce in the developing world typically relies on a network of human agents - employed by a bank or a similarly trusted entity - who help the target users set up something similar to a bank account but with fewer associated frills and drills. Enrolment normally requires some simple background checks and the execution of a mobile-based electronic protocol, which utilises the customers phone, the agent's phone and a central server on the mobile network. / read more

John Atkins, the US-based Chief Privacy Officer of First Data, one of the world's largest providers of merchant processing services, discusses the practical challenges he faces, and his views on the future of privacy in the financial services industry. / read more

Analysis of figures relating to fraud in financial transactions suggests that the introduction of Chip and PIN has resulted in a reduction in certain types of fraud. Stephen Mason, an independent Barrister, examines why card fraud could be underreported in the UK, and assesses the scale of the problem. / 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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