Regulatory Perils in the Fast-Growth World of Mobile Payment Apps


“Paper or plastic? Or smartphone?”

From buying groceries to concert tickets in our technology driven world, this could be the new catch phrase to describe your payment preference. Consumers purchase products daily: swiping cards, entering PIN numbers and breezing through transactions without thinking about the purchase mechanics. But depending on how and where a consumer pays for a product, there could be seven or more players facilitating that transaction.

Banks have always been one of these players, but other types of companies (especially Internet and telecommunication companies) are entering the payments business, giving consumers more choices about how to purchase products and simultaneously wading into highly regulated areas of activity. While consumers gain new ways of purchasing, they often harbor security and trust concerns, especially for transactions using smartphones.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Manatt, Phelps & Phillips, LLP | Attorney Advertising

Written by:


Manatt, Phelps & Phillips, LLP on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.