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
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
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
The interchange fee and the potential of mobile payments were the dominant payment system issues in 2012. From a landmark antitrust settlement to seemingly daily announcements of a new prepaid or mobile payment product, there...more
Mobile point-of-sale payment terminals have experienced explosive growth over the past year. Unlike a traditional point-of-sale terminal, a mobile terminal communicates wirelessly when processing payment cards. There are...more