Mobile payments: Current and emerging regulatory and contracting issues

Sitting at the heart of m-commerce and at the intersection of the value chains of the payments, mobile, retail and technology industries, mobile payments are set to grow rapidly in the short and medium terms. M-payments are giving rise to the development of a new ecosystem of market participants including card schemes, MNOs, retailers, device suppliers, service providers and trusted service managers. Key regulatory considerations arising include e- money and payment services, mobile services regulation, consumer protection, data privacy and standards. The contractual landscape linking the various parties inhabiting the ecosystem is also rapidly developing, with key issues around revenue models, customer ownership, technology development, and risk and liability. Parties involved in mobile payments will need to carefully assess their and others' roles and regulatory aspects in determining their strategy and how to approach contractual discussions.