| Description |
1 online resource (35 pages) : illustrations |
| Series |
IMF working paper ; WP/14/123 |
|
IMF working paper ; WP/14/123.
|
| Contents |
Cover -- Contents -- Abstract -- Glossary -- I. Introduction -- II. What are Mobile Payments? -- A. Definitions -- B. Market Potential -- C. Data Initiatives -- III. Risks and Oversight Issues -- A. Legal Regime -- B. Financial Integrity -- C. Fund Safeguarding -- D. Operational Resiliency -- E. Payment System -- IV. Conclusion -- References -- Figures -- 1. Mobile Payment System -- 2. Live Deployments of Mobile Money, 2001-2013 -- 3. Kenya: ACH and Mobile Payment Monthly Transaction Values, 2005- -- Boxes |
|
1. Norway: Payment Service Provider Categorization and Key Legislation2. Hong Kong: Stored-Value Facilities and Retail Payment Systems Regulation -- 3. European Union: Fund Safeguarding in the Payment Services Directive -- 4. United States: “Pass-Through� Deposit Insurance -- 5. United Kingdom: Risk Control in Retail Payment Systems -- Annex -- 1. Selected Mobile Payment Schemes by Region -- 2. G20 Principles for Innovative Financial Inclusion -- 3. Principles for Financial Market Infrastructures |
| Summary |
"This paper examines oversight issues that underlie the potential growth and risks in mobile payments. International experience suggests that financial authorities can develop effective oversight frameworks for new payment methods to safeguard public confidence and financial stability by establishing: (i) a clear legal regime; (ii) proportionate AML/CFT measures to prevent financial integrity risks; (iii) fund safeguarding measures such as insurance, similar guarantee schemes, or "pass through" deposit insurance; (iv) contingency plans for operational disruptions; and (v) risk controls and access criteria in payment systems. Such measures are particularly important for low-income countries where diffusion is becoming more widespread"--Abstract |
| Notes |
"Monetary and Capital Markets"--Page 2 of pdf |
|
"July 2014"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references (pages 32-35) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed July 16, 2014) |
| Subject |
Mobile commerce -- Management
|
|
Electronic funds transfers -- Management
|
|
Electronic funds transfers -- Management
|
| Form |
Electronic book
|
| Author |
International Monetary Fund. Monetary and Capital Markets Department, issuing body.
|
| ISBN |
9781484305126 |
|
1484305124 |
|
