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Author: Mark Elliott Budnitz Publisher: ISBN: Category : Languages : en Pages : 108
Book Description
American consumers increasingly use their mobile devices to pay for goods and services. Technological developments have led to rapid changes in mobile payment products. The law, however, has not kept pace. This article describes the legal framework that applies to mobile payments.The article examines the three stages of mobile payments: Stage 1 considers the law that applies to consumers who enter into contracts for the provision of mobile payment services. The article first describes the complex regulatory environment in which mobile payments occur. The focus of this part is on consumers who contract online. Stage 2 explores the law that relates to consumers' use of mobile devices to make payments. Differences in the legal treatment of payments made with credit, debit and prepaid card accounts are analyzed. This part also reviews the law applicable to the many parties involved in mobile payments, including banks, non-banks, wireless carriers, payment processors and third-party service providers. Stage 3 describes problems consumers encounter when making payments with mobile devices, including privacy invasions, security breaches, and unauthorized payments. The article examines the sufficiency of laws consumers can use to remedy these problems.At each stage, the article highlights the gaps where no law applies, ambiguities where it is not clear whether or how a law applies, and overlap in which two or more laws apply to the same situation or more than one government agency has legal authority over the same type of conduct. The article concludes by discussing the various options available to lawmakers.Support for this project was provided by The Pew Charitable Trusts. The views expressed herein are those of the author and do not necessarily represent the views of The Pew Charitable Trusts.
Author: Mark Elliott Budnitz Publisher: ISBN: Category : Languages : en Pages : 108
Book Description
American consumers increasingly use their mobile devices to pay for goods and services. Technological developments have led to rapid changes in mobile payment products. The law, however, has not kept pace. This article describes the legal framework that applies to mobile payments.The article examines the three stages of mobile payments: Stage 1 considers the law that applies to consumers who enter into contracts for the provision of mobile payment services. The article first describes the complex regulatory environment in which mobile payments occur. The focus of this part is on consumers who contract online. Stage 2 explores the law that relates to consumers' use of mobile devices to make payments. Differences in the legal treatment of payments made with credit, debit and prepaid card accounts are analyzed. This part also reviews the law applicable to the many parties involved in mobile payments, including banks, non-banks, wireless carriers, payment processors and third-party service providers. Stage 3 describes problems consumers encounter when making payments with mobile devices, including privacy invasions, security breaches, and unauthorized payments. The article examines the sufficiency of laws consumers can use to remedy these problems.At each stage, the article highlights the gaps where no law applies, ambiguities where it is not clear whether or how a law applies, and overlap in which two or more laws apply to the same situation or more than one government agency has legal authority over the same type of conduct. The article concludes by discussing the various options available to lawmakers.Support for this project was provided by The Pew Charitable Trusts. The views expressed herein are those of the author and do not necessarily represent the views of The Pew Charitable Trusts.
Author: Opati, Thaisaiyi Zephania Publisher: IGI Global ISBN: 1799824004 Category : Business & Economics Languages : en Pages : 311
Book Description
Consumers continue to rely heavily on their phones to complete such tasks as transferring funds between banks or accounts, depositing or withdrawing funds, paying bills, and purchasing items. Mobile money users are oftentimes more financially resilient and can protect themselves better against economic and other shocks. Moreover, mobile money can increase the velocity of money in circulation because it reduces the transactions and time costs of making retail payments. As such, understanding the impact of mobile payments is imperative for businesses and the economy. Impact of Mobile Payment Applications and Transfers on Business is a pivotal reference source that provides vital research on mobile money transfer and its impact in social, corporate, and micro- and macro-policies concerning the aggregate economy and individual households as a whole within an economy. It covers the impact, innovations, business-to-business transformations, regulatory framework, challenges, and ethical issues surrounding mobile money transfers around the world. This book is ideally designed for economists, financial analysts, business managers, leaders, scholars, practitioners, researchers, and students in fields that include management, finance, economics, commerce, and leadership.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher: ISBN: Category : Banking law Languages : en Pages : 244
Author: Joy Malala Publisher: Routledge ISBN: 1351728571 Category : Law Languages : en Pages : 154
Book Description
Over the last ten years mobile payment systems have revolutionised banking in some countries in Africa. In Kenya the introduction of M-Pesa, a new financial services model, has transformed the banking and financial services industry. Giving the unbanked majority access to the financial services market it has attracted over 18 million subscribers which is remarkable given that fewer than 4 million people in Kenya have bank accounts. This book addresses the legal and regulatory issues arising out of the introduction of M-Pesa in Kenya and its drive towards financial inclusion. It considers the interaction between regulation and technological innovation with a particular focus on the regulatory tools, institutional arrangements and government decisional processes through the examination as a whole of its regulatory capacity. This is done with a view to understanding the regulatory capacity of Kenya in addressing the vulnerabilities presented by technological innovation in the financial industry for consumers after financial inclusion. It also examines the way that mobile payments have been regulated by criticising the piecemeal approach that the Central Bank of Kenya has taken in addressing the legal and regulatory issues presented by mobile payments. The book argues there are significant gaps in the regulatory regime of mobile banking in Kenya.
Author: Gabriella Gimigliano Publisher: Springer ISBN: 1137575123 Category : Business & Economics Languages : en Pages : 330
Book Description
This book provides a critical analysis of The European Union’s regulatory framework for mobile payments and bitcoin. Chapters discuss the creation of the EU single market for e-payments and combine legal analysis with comparative case studies in their exploration of the regulatory challenges surrounding e-payments. The contributing authors analyse the key economic and legal issues of the development of bitcoin and mobile payments within the EU framework through a comparative lens. They cover topics ranging from user data and funds protection and the stability of the payment system to the competitiveness of the EU market. Providing a comprehensive and methodological guide to the bitcoin and mobile payments in Europe, this book will prove an illuminating and informative read for academics, students and policy makers with an interest in the impact of innovation on payment systems.
Author: Tanai Khiaonarong Publisher: International Monetary Fund ISBN: 1498331572 Category : Business & Economics Languages : en Pages : 35
Book Description
This paper examines oversight issues that underlie the potential growth and risks in mobile payments. International experience suggests that financial authorities can develop effective oversight frameworks for new payment methods to safeguard public confidence and financial stability by establishing: (i) a clear legal regime; (ii) proportionate AML/CFT measures to prevent financial integrity risks; (iii) fund safeguarding measures such as insurance, similar guarantee schemes, or “pass through” deposit insurance; (iv) contingency plans for operational disruptions; and (v) risk controls and access criteria in payment systems. Such measures are particularly important for low-income countries where diffusion is becoming more widespread.
Author: Thomas Lerner Publisher: Springer Science & Business Media ISBN: 3658032510 Category : Computers Languages : en Pages : 187
Book Description
Paying with mobile devices such as mobile phones or smart phones will expand worldwide in the coming years. This development provides opportunities for various industries (banking, telecommunications, credit card business, manufacturers, suppliers, retail) and for consumers. The book comprehensively describes current status, trends and critical aspects of successful mobile payment. It combines theory and practice. Comprising essential aspects of a successful mobile payment as well as successful case studies and practical examples, this book is for all who are developing, offering and using mobile payment.
Author: Nwanneka Ezechukwu Publisher: Routledge ISBN: 9780367347062 Category : Languages : en Pages : 0
Book Description
Mobile technology offers an innovative and cost-effective channel for delivering a range of financial services, including mobile payments. In some jurisdictions, mobile payments simply provide a convenient option for facilitating payment transactions. In other jurisdictions, mobile payments are viewed as potentially transformative because they present an opportunity to expand access to financial services. However, as with other innovations, mobile payments raise consumer protection concerns and require robust regulatory mechanisms to address such concerns. Against this backdrop, the book adopts a typology of consumer policy tools which can be used to address the identified consumer concerns. This typology guides the enquiry into the existing consumer protection frameworks applying to mobile payments in selected jurisdictions (Canada, Kenya, and the United Kingdom). The main objective of this endeavour is to identify best practices that national authorities seeking to leverage mobile payments and similar innovations can emulate. This book will be of interest to policymakers, regulators, industry stakeholders, students and scholars interested in the regulation of innovative financial services, particularly from a consumer protection perspective.
Author: Nwanneka V. Ezechukwu Publisher: Taylor & Francis ISBN: 100085146X Category : Law Languages : en Pages : 202
Book Description
Mobile technology offers an innovative and cost-effective channel for delivering a range of financial services, including mobile payments. In some jurisdictions, mobile payments simply provide a convenient option for facilitating payment transactions. In other jurisdictions, mobile payments are viewed as potentially transformative because they present an opportunity to expand access to financial services. However, as with other innovations, mobile payments raise consumer protection concerns and require robust regulatory mechanisms to address such concerns. Against this backdrop, the book adopts a typology of consumer policy tools which can be used to address the identified consumer concerns. This typology guides the enquiry into the existing consumer protection frameworks applying to mobile payments in selected jurisdictions (Canada, Kenya, and the United Kingdom). The main objective of this endeavour is to identify best practices that national authorities seeking to leverage mobile payments and similar innovations can emulate. This book will be of interest to policymakers, regulators, industry stakeholders, students, and scholars interested in the regulation of innovative financial services, particularly from a consumer protection perspective.
Author: Wolfgang Wörndl Publisher: Springer Nature ISBN: 303065785X Category : Business & Economics Languages : en Pages : 587
Book Description
This open access book is the proceedings of the International Federation for IT and Travel & Tourism (IFITT)’s 28th Annual International eTourism Conference, which assembles the latest research presented at the ENTER21@yourplace virtual conference January 19–22, 2021. This book advances the current knowledge base of information and communication technologies and tourism in the areas of social media and sharing economy, technology including AI-driven technologies, research related to destination management and innovations, COVID-19 repercussions, and others. Readers will find a wealth of state-of-the-art insights, ideas, and case studies on how information and communication technologies can be applied in travel and tourism as we encounter new opportunities and challenges in an unpredictable world.
Author: Mark Elliott Budnitz
Author: Mark Elliott Budnitz
Author: Opati, Thaisaiyi Zephania
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Author: Joy Malala
Author: Gabriella Gimigliano
Author: Tanai Khiaonarong
Author: Thomas Lerner
Author: Nwanneka Ezechukwu
Author: Nwanneka V. Ezechukwu
Author: Wolfgang Wörndl