Mobile Payments in the EU: Overview, Legal Framework and Infrastructure and Challenges

April 2016Regulation Banking & Finance

Abstract

The mobile payment revolution has started in our society and is already changing our ordinary lives by merging one of the oldest economic tools –money— with one of the most popular technological device invented in our current millennial era –smartphones—, as the emerging mobile payment applications are already easing consumers’ quality of life significantly by providing the capability to shop and purchase goods and services without carrying cash, cheque books or even plastic cards. The corner stone of this revolution is the transition from plastic cards to cards integrated in smartphones, wearable devices, or even embedded in our personal biometric prints, as now customers expect banking transactions to be instantly available on digital and mobile devices so that they can access their money and make payments whenever and however suits them.

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The digitalization of financial services is supporting the simplification of day-to-day life, making financial services available round the clock and easily accessible to the most remote parts of the globe....Read more

Andreas Gustafsson

Partner, Stockholm University - Swedish Corporate Governance Institute, Sweden

Sofia Skroubi

Head of Legal Europe, Regulatory & Commercial, FNZ Group, Sweden

SWIPE, CHIP, TAP: Regulatory Dynamics in the Card Payment Industry and its Impact on Financial Inclusion

The card payment industry has undergone significant transformations with the advent of innovative payment technologies. This paper explores the regulatory dynamics shaping the industries and their consequential effects on financial...Read more

Jesse Mudaliyar

Senior Managing Counsel, VP, Mastercard EEMEA, UAE

Mobile Payments in the EU: Overview, Legal Framework and Infrastructure and Challenges

Abstract

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