Regnard-Weinrabe, Ben; Finlayson-Brown, Jane --- "ADAPTING TO A CHANGING PAYMENTS LANDSCAPE" [2019] ELECD 2002; in Madir, Jelena (ed), "FinTech" (Edward Elgar Publishing, 2019) 22

Book Title: FinTech

Editor(s): Madir, Jelena

Publisher: Edward Elgar Publishing

Section: Chapter 2

Section Title: ADAPTING TO A CHANGING PAYMENTS LANDSCAPE

Author(s): Regnard-Weinrabe, Ben; Finlayson-Brown, Jane

Number of pages: 27

Abstract/Description:

Increasingly, consumers (and businesses) are looking to online, mobile and peer-to-peer channels for cheaper, faster, and more frictionless banking and payment services. This changing payments landscape gives rise to an interesting tension between innovation and regulation, as regulators try to balance the social benefits of increased competition and access to the un- or under-banked, with the need to preserve consumer protection and prevent fraud. This chapter considers how the regulatory framework surrounding payments and data protection is adapting to meet the demands of constant growth and innovation in FinTech, whilst improving cybersecurity and encouraging greater competition in the market.