Mobile Payments

News & Analysis as of

New Guidance From FFIEC on Mobile Financial Services

Examiners will be paying more attention to mobile financial services (MFS) using new guidance recently issued by the Federal Financial Institutions Examination Council (FFIEC)....more

Your daily dose of financial news The Brief – 5.25.16

It’s a week of big fat NOs so far, with Tribune emphatically turning down Gannett yesterday and Monsanto doing the same to Bayer and its massive all-cash $62 billion offer...more

Fintech and Striking a Balance Between Innovation and Consumer Protection

A topic of discussion at eMerge this year was the disruptive effect that Fintech is having within the financial sector. Fintech, which refers to the use of new technologies in the financial services industry to improve...more

Fintech Regulation: Recent Developments And Innovations

The past few years have been boom times for financial technology (fintech), with investments in fintech companies rising from $1.8 billion in 2010 to $19 billion in 2015 according to one study. Will recent regulatory...more

Reality and Trend of China’s Regulation on Payment Service by Non-Financial Institutions 2016

Understanding the payments regulatory environment in China—both the existing regime and pending developments—is essential for companies engaged in cross-border payments activities (particularly non-financial institutions). At...more

Retailers Digitizing Daily Operations: From Mobile Payments to E-Receipts

When asked last year to name one technology that we rely on today that would no longer be around in 10 years, Microsoft CEO Satya Nadella responded: “fountain pens.” Some may question Mr. Nadella’s prediction of the...more

2016 Mobile Data Privacy and Security Update and 2015 Review

To say that mobile device usage has reached a tipping point would be an understatement. There are now more mobile devices than people in the world, a staggering 7.9 billion mobile devices for 7.4 billion people on Earth. In...more

Digital Insights & Trends: Potential Regulatory Pitfalls of the Mobile Payments Revolution

The mobile payments revolution has provided consumers with unprecedented options at the checkout counter. In addition to cash, consumers have myriad payment options, including prepaid cards, debit cards, credit cards, virtual...more

Legal Framework of Mobile Payments Presented in Pew Center White Paper

As consumers increasingly turn to mobile devices to pay their bills, shop online, and order rides and other services, a number of legal and practical questions emerge. Who regulates mobile financial services offered by...more

Setting Up Shop in the UK? Don’t Overlook Your Card Payment Services

What are the specific card payment regulations that a merchant operating in the UK must follow? RC: The PCI DSS Compliance Standards are the key ones in respect of card payments and are enforced by the card brands...more

Your daily dose of financial news The Brief – 12.10.15

It’s official now: Yahoo’s keeping Alibaba but spinning off its core internet business and Yahoo Japan. All the details here – NYTimes and WSJ... Some thoughts on what, exactly, that means for CEO Marissa Mayer –...more

The Consumer Credit Card Market

Credit cards are central to the financial lives of most American consumers. Credit cards represent a key medium for U.S. consumer spending. In the first six months of 2015 alone, there were some 14.5 billion U.S. general...more

Apple Pay, Android Pay, Samsung Pay: Where’s Your Wallet?

Last week Samsung launched its mobile payments app to compete with ApplePay and Android Pay, with much anticipation among technology bloggers. A few Technorati rushed to try the application so they could compare and contrast...more

New Guidance for Financial Institution Directors and Officers In Cybersecurity Preparedness

Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more

Checklist for Businesses that Handle Credit/Debit Cards

If your business client accepts credit or debit card payments, it’s subject to the Payment Card Industry Data Security Standards (PCI DSS), which consists of a set of industry tools and measurements to assist in the safe...more

OCC Comptroller Talks Future of Financial Services, Eyes FinTech Industry

On August 7, OCC Comptroller Thomas Curry delivered remarks at the Federal Home Loan Bank of Chicago, which was hosting a conference highlighting the future of financial services. Specifically, Curry discussed innovation in...more

Net 1 Announces Closure of SEC FCPA Investigation

On June 8, Net 1 UEPS Technologies, Inc., a South Africa-based mobile payments company incorporated in Florida, announced that the SEC had closed a FCPA investigation arising out of a contract with the South African Social...more

OCC Comptroller Discusses Emerging Payment Systems Technology and Cybersecurity, FFIEC Set to Release Cybersecurity Assessment...

On June 3, in prepared remarks delivered at the BITS Emerging Payments Forum, OCC Comptroller Thomas Curry advised that as financial institutions continue to develop payment systems, banks need better preparation for...more

Financial Services Report, Summer 2015

In This Issue: - Arbitration Report - Beltway Report - Bureau Report - Mobile & Emerging Payments Report - Mortgage & Fair Lending Report - Operations Report - Preemption Report -...more

French Data Protection Authority Unveils Its Inspection Program for 2015

On May 25, 2015, the French data protection authority (CNIL) published its annual inspection program for 2015, unveiling its objectives and priorities for the year. This alert highlights the main priorities of the CNIL for...more

Uniform Law Commission Study Committee to Host a Stakeholder’s Meeting on April 23

In December 2014, the Study Committee of the Uniform Law Commission (ULC) recommended to the ULC to convene a Drafting Committee to draft uniform state legislation concerning alternative currencies and mobile payment systems....more

The CFPB Goes Mobile

The plastic credit card will one day go the way of the flip phone as consumers increasingly adopt innovative digital payment methods, such as Apple Pay, already available to them on their mobile devices. As a result of this...more

Status Updates - April 2015 #2

Bad ads. New research shows that 5% of the people visiting Google-related websites are using computers infected with programs that insert illegitimate ads onto web pages; as a result, these web surfers see ads that site...more

New rules on mobile payments!

Time is up for companies operating in the mobile payments’ arena, as from April 1, 2015 the new set of rules issued by the Italian Data Protection Authority (Garante per la protezione dei dati personali, the “Italian DPA”)...more

How Will Banks Deal with Millennials and Their Money?

Fair Isaac shared some eye-popping statistics on the financial preferences and habits of the so-called “millennial” generation, born in the early 1980s or 90s. Also called Generation Y, 75+ million millennials have a much...more

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