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The competitive, legal, technical and regulatory nature of non-bank versus bank MFS models is discussed, in particular the impact of banking, payments, money laundering, telecommunications, e-commerce and consumer protection laws.
Consumer protection for MFS and payments generally through current statute, contract, and payment law and common law condictiones are found to be wanting. The need for a coordinated payments-specific law that has consumer protections, enables proportional risk-based licensing of new non-bank providers of MFS, and allows for a regulator for retail payments is recommended.
The use of trust companies and trust accounts is recommended for protection of user funds. Size: 9. Format: PDF.
Bank Guarantee. What is bank guarantee? JAIIB LEGAL AND REGULATORY ASPECTS OF BANKING
Related items Showing items related by title, author, creator and subject. Agyepong, Stephen Financial exclusion is a major developmental problem. Perception has it that financial exclusion emanates from the lack of access to banking and financial services, and the general understanding is that ICT-based access Mhlongo, Kulani Morgan With mobile phones almost being ubiquitous in most communities, the electronic payment industry has realised the potential of using mobile phones as devices that can be used to conduct electronic payments.
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Pretorius, J. Perlman, Leon Joseph. The thesis deals with the emergence of bank and non-bank entities that provide a range of unique transaction-based payment services broadly called Mobile Financial Services MFS to unbanked, underserved and underbanked persons via mobile phones.