Money through your mobile: regulation of m-payments

Banks are well positioned to take advantage of the booming market in mobile payments; however, there are a raft of European and domestic regulatory requirements that they must take into consideration. Andrew Barber and Emma Radmore provide an outline.

Andrew Barber (senior associate) and Emma Radmore (managing associate) are members of SNR Denton’s financial services and funds practice in London. Contact them on andrew.barber@snrdenton.com and emma. radmore@snrdenton.com.

The growth in the number of smart phone handsets and tablets (in this article referred to as mobiles) and demand from consumers for convenience has led to significant growth in the mobile payments (m-payments) market. A recent KPMG report has suggested compound annual growth rates of 97.4% for m-payments for the years 2010-2015. [1]