Mobile Payments

News & Analysis as of

California Federal Court Dismisses User Information Claims Against Digital Wallet Company

On August 12, the U.S. District Court for the Northern District of California dismissed for failure to state a claim a putative class action alleging that a digital wallet provider made unauthorized disclosures of user...more

New Guidance for Merchants on Ensuring that Service Providers Share Security Responsibility

For merchants, long gone are the days of using a card reader with a dial-up connection to their payment processor. Today’s omni-channel retailers rely on multiple third party service providers to complete payment card...more

Privacy and Information Security Alert: Federal Trade Commission Recommendations for Companies Providing Mobile Shopping...

On August 1, 2014, the Federal Trade Commission (FTC) released a report entitled What’s the Deal? An FTC Study on Mobile Shopping Apps (the FTC Report). The FTC Report is based on a study the FTC conducted (the FTC Study) to...more

FTC Examines Pre-Download Consumer Disclosures of Mobile Shopping Applications; Makes Recommendations Applicable to All Consumer...

Continuing its examination of consumer protection issues in the mobile payments sphere, on August 1, 2014, the FTC released a staff report examining the pre-download disclosures of mobile shopping applications to evaluate the...more

FTC Combats ‘Cramming’ in Mobile Apps and Services

In a recently released staff report, the Federal Trade Commission makes several recommendations designed to reduce “mobile cramming.” Cramming occurs when consumers access or enroll in third-party services through a mobile...more

Online Payments in China: Recent and Regulatory Actions

On March 13, 2014, People’s Bank of China (“PBC”) issued an opinion letter halting immediately the use of QR codes for payments using mobile phones (as distinguished from using QR codes at POS terminals) well as the use of...more

Mobile Application: Security Best Practices

The industry for mobile applications is growing rapidly. As companies and independent developers look to gain—or strengthen—footholds in this competitive space, the Federal Trade Commission (FTC) asks, “… is security keeping...more

CFPB Seeks Comment on the Use of Mobile Financial Services

On June 12, 2014, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register a notice and request for information (RFI) about how consumers are using mobile financial services to access products and...more

Digital Commerce & Payments Update

In this Issue: - Insights & Trends ..The Future of Regulation in the Digital Economy - Virtual Currency ..GAO Urges CFPB Participation In Virtual Currency Working Groups ..Trade Group White Paper...more

Let’s Get Mobile: The CFPB Turns Focus to Mobile Banking

After completing most of its required rulemaking under the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) is now looking at a wide array of consumer financial products and services for additional regulation....more

CFPB Holds Field Hearing on Mobile Financial Services

Yesterday, at the historic Old U.S. Mint in New Orleans, Louisiana, the Consumer Financial Protection Bureau (“CFPB”) held a field hearing on mobile financial services in connection with its newly released formal Request for...more

CFPB Announces Mobile Financial Services Field Hearing

On June 3, the CFPB announced that it will hold a field hearing on mobile financial services on June 12, 2014, in New Orleans, LA. The event is open to members of the public who RSVP and also will be streamed live on the...more

Financial Services Report, Summer 2014

In This Issue: - Beltway Report - Bureau Report - Mobile Payments - Mortgage and Fair Lending Report - Operations Report - Preemption Report - Privacy Report - Arbitration Report - TCPA...more

CSBS Hosts Emerging Payments Hearing

On May 16, the Conference of State Bank Supervisors Emerging Payments Task Force held a public hearing to examine the changing payments landscape and opportunities and risks presented by current and emerging technologies....more

2014 Verizon Report Offers Advice For Combatting Nine Common Threats To Cybersecurity

The 2014 Verizon Data Breach Investigations Report (DBIR) was released on April 22, providing the deep empirical analysis of cybersecurity incidents we’ve come to expect from this annual report. The primary messages of this...more

FDIC Panel Considers Mobile Financial Services For Underbanked

How can financial institutions better serve underbanked individuals? - An advisory panel convened by the Federal Deposit Insurance Corporation (FDIC) met recently to discuss possible answers to this question....more

New Form Factors in Cobrand and Private-Label Credit Card Program Agreements

Most current cobrand and private-label agreements involve one or, more usually, two parties that are issuing, branding or developing non-traditional form factors alongside or in lieu of plastic cards. Some of these form...more

CPUC Wants To Revisit Rideshare Insurance Regulations, — to the Chagrin of Lyft and Uber

The California Public Utilities Commission is looking to reconsider the regulations it set in 2013 on the issue of insurance coverage for rideshare companies that connect drivers and passengers via their mobile devices. The...more

FTC Sends Message: Make Your Mobile App Secure

Mobile payments have become so commonplace that consumers rarely stop to think about whether their online payment is secure. Mobile app developers can fall into a similar trap of assuming that the necessary security measures...more

A Smart Wallet

The Potential for mobile payments is huge. So are the potential legal and regulatory hurdles. Banks, retailers, and pundits are paying a lot of attention to mobile payments, which typically involve the use of...more

EPC Publishes the Final Version of the White Paper on Mobile Wallet Payments

On January 21, the European Payments Council (EPC) published the final version of its white paper on mobile wallet payments. It focuses on the use of mobile wallets as an enabler for mobile payments in the Single Euro...more

New public consultation on mobile remote payments

We have been dealing with a number of issues related to mobile payments and data protection. At the beginning of the new year, the Italian Data Protection Authority (Garante per la protezione dei dati personali)...more

A Smart Wallet -- The potential for mobile payments is huge. So are the potential legal and regulatory hurdles

Banks, retailers, and pundits are paying a lot of attention to mobile payments, which typically involve the use of smartphones and tablets to pay for purchases. But a lack of mobile infrastructure has kept the use of mobile...more

Federal Reserve Banks Seek Public Input On Threats To Payment System

On September 10, the Federal Reserve Banks issued a public consultation paper that identifies “key gaps and opportunities” in the U.S. payment system. They include: (i) payment recipients prefer other forms of payments than...more

Financial Services Report - Quarterly News, Fall 2013

In This Issue: Beltway Report; Bureau Report; Privacy Report; Mobile Payments Report; Mortgage Report; Operations Report; Preemption Report; Arbitration Report; and TCPA Report. Excerpt from Beltway Report:...more

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