Payments are a much regulated business. With so many players involved in any given payment, all with money on the line, regulation and legislation is and always will be a key conversation when talking about new payments. For years the payment infrastructure has been favourable towards the top industry players, but with the advent of Mobile Payments all of that might be about to change.
Examining and understanding new and existing regulation and legislation affecting the mobile payments ecosystem, and how you can ensure your business adheres to and keeps up with industry standards is key to ensuring success. Explore the latest in interchange regulation and competition legislation through an interactive workshop that will give you a head start and a strong understanding of Mobile Payments regulation.
Visa, MasterCard, American Express
How do the new interchange regulations provide mobile payments with the opportunity to move further away from traditional payment structures?
Exploring Visa, MasterCard and American Expresss decision to take an unprecedented cut to their interchange fees as part of their partnership with Apple Pay
With the recent acceleration of the mobile payments market, more companies then ever before are entering the arena, vying for their piece of this new payment method and infrastructure. Unfortunately though, consumers havent been as eager to follow in to this space. With the seemingly complicated nature of mobile payments, a lack of education and motivation, and the ease of traditional payment methods consumers havent flocked to mobile payments like many expected them to. This looks set to change in the coming year with the introduction of Zapp and Apple Pay; users might start paying through their phones for the first time.
In order for this to become a reality though, operators must put the work in, driving consumer adoption and engagement. Cards and cash are very easy to use, and obviously incredibly established. For mobile payments to succeed, not only do they need to be promoted more, but more needs to be done to drive consumer engagement.
Two key decisions
Mobile Payments will affect both of these decisions
Look at how we moved from cash and cheques to credit and debit cards previously
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