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FinTech and payments regulation: An analytical framework

Author

Listed:
  • Khiaonarong, Tanai

    (Senior Financial Sector Expert, International Monetary Fund, USA)

  • Goh, Terry

    (Short-Term Payment Systems Expert, International Monetary Fund, USA)

Abstract

This paper draws on recent international experiences in modernising legal and regulatory frameworks for payment services. It proposes an analytical framework based on a four-step process: (1) identifying payment activities; (2) licensing entities and designating systems; (3) analysing and managing risks, and (4) promoting legal certainty. The paper concludes that as payment activities evolve and potential systemic risks heighten, adherence to international standards and additional regulatory requirements are warranted.

Suggested Citation

  • Khiaonarong, Tanai & Goh, Terry, 2020. "FinTech and payments regulation: An analytical framework," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 14(2), pages 157-171, June.
    • Handle: RePEc:aza:jpss00:y:2020:v:14:i:2:p:157-171
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    Citations

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    Cited by:

    1. Pandey, Dharen Kumar & Hassan, M.Kabir & Kumari, Vineeta & Zaied, Younes Ben & Rai, Varun Kumar, 2024. "Mapping the landscape of FinTech in banking and finance: A bibliometric review," Research in International Business and Finance, Elsevier, vol. 67(PA).
    2. Michał Grabowski, 2024. "Account Information and Payment Initiation Services and the Related AML Obligations in the Law of the European Union," FinTech, MDPI, vol. 3(1), pages 1-11, March.

    More about this item

    Keywords

    FinTech; payment activities; payment services; payment systems; central bank; regulation; BigTech;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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