M-Payments: How Much Regulation Is Appropriate? Learning from the Global Experience

Elisabetta Cervone
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Elisabetta Cervone: University of Milan

Chapter 6 in Bitcoin and Mobile Payments, 2016, pp 121-142 from Palgrave Macmillan

Abstract: Abstract The author offers a roadmap approach to regulating mobile payments (hereinafter “m-payments”) worldwide. This chapter draws the attention to the regulatory restrictions and/or regulatory uncertainty which govern m-payments and which are the most formidable barriers to expanding m-payments to the mass market. It focuses on the pioneering—mostly unregulated—model M-Pesa in Kenya, on one side, and on the US legal and regulatory framework, on the other. The lesson from the global experience so far is that it is too early for regulators to assume that there is an established or “orthodox” method of regulating m-payments. However, the author concludes that—as a roadmap approach to regulating m-payments worldwide—a functional rather than institutional approach is strongly recommended.

Keywords: Consumer Protection; Mobile Operator; Federal Communication Commission; Payment Service; Debit Card (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psincp:978-1-137-57512-8_6

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DOI: 10.1057/978-1-137-57512-8_6

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