Mobile Payments

News & Analysis as of

Will Using “Apple Pay” Keep the Data Breach Away?

Recently Apple unveiled its latest iPhones and other new products. While the big screens on the new iPhones are making the splashy headlines, perhaps the most interesting reveal, from a data privacy perspective, is not a...more

Mobilizing on Mobile Apps: The FTC’s Comment to the CFPB Signals its Priorities

In recent months, the Federal Trade Commission (“FTC”) has been steadily ramping up its efforts to monitor, regulate, and provide best practice guidance in the rapidly expanding field of mobile applications. On September 10,...more

FTC Comments on the CFPB’s Foray into Mobile Financial Services, Emphasizing Its Extensive Consumer Protection Efforts in the...

Earlier this month, the Bureau of Consumer Protection of the Federal Trade Commission (FTC) submitted comments to the Consumer Financial Protection Bureau (CFPB) in response to the CFPB’s June 2014 request for information...more

The CFPB and the Technological Revolution

The Consumer Financial Protection Bureau (CFPB) Director Richard Cordray emphasized during the CFPB’s September 11, 2014, meeting with the Consumer Advisory Board the CFPB’s new focus on protecting consumers who use mobile...more

Advertising Law - September 2014

Complimentary TCPA Update Webinar: The Year in Review and What Lies Ahead - One year has passed since the implementation of the Federal Communication Commission’s revised Telephone Consumer Protection Act (TCPA) rules....more

Why Worry About a Little Skimmer?

Merchants—rightfully so—are worried about securing their payment card environments so that their name does not appear in a headline discussing how millions of cards were stolen from them. Faced with the challenge of...more

The ABA Responds on Mobile Financial Services (Plus, Apple Inc.’s “Response”)

In an interesting coincidence, the comment period for the CFPB’s Request for Information (“RFI”) on mobile financial services closed the same day, September 10th, that Apple announced “Apple Pay”—a new mobile wallet included...more

Mobile Payments – The Future is NOW

At this week’s highly anticipated new product launch, Tim Cook (Apple’s CEO) introduced Apple Pay, Apple’s new payment platform driven by the event’s leading stars, the iPhone 6 and iWatch. As usual, the excitement was...more

Status Updates - September 2014 #3

..In-tweet purchases. Twitter is testing the ability for its users to make purchases directly from tweets. The popular social network is working with a number of sellers, nonprofits and artists—as well as a small handful of...more

Mobile payments update

Any mobile payment this summer? As you probably know, this is an ever growing market. According to a study of the Politecnico of Milan, the new “Mobile and App Economy” was worth 25.4 billion euro in 2013 and can reach...more

Blurred Lines

Mobile payments are taking off, and by 2017, consumers worldwide are likely to be using the technology to spend $700 billion or more annually, according to Forrester Research. But as technology companies look for ways to...more

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

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

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