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Briefing on the new EU regulatory package for Card, Internet and Mobile Payments

Jean-Stéphane Gourévitch

08.11.2013

The payments industry is facing major disruptions resulting from the combination of technological, market, competitive and policy/regulatory evolutions.

The proposed new regulatory framework for Card, Internet and Mobile Payments by the European Commission is considered as a major milestone that if adopted could bring significant changes to the market in particular with respect to the capping of highly polemic Multilateral Interchange Fees and structural changes in the way card schemes are functioning.

Parallel actions and discussions taking place in the UK (creation of a specific economic regulator for the payments industry) and Africa (regulation of interchange fees and card schemes) are taking place in fast paced evolving markets where Digital and Mobile Payments and Mobile Money are becoming a major vector for change associated to new consumption patterns, growth of Mobile Commerce and the overall irresistible emergence of the Mobile Convergence Ecosystem.

 
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