Tag: mobile commerce regulations

China’s central bank introduced new regulations targeting mobile payments

Stephanie Beck
ATM mobile payments qr code integration

People’s Bank of China unveils draft regulations aimed at the mobile commerce sector The People’s Bank of China has issued two drafts concerning regulations for online payment providers. The regulations are meant to introduce new restrictions on the digital finance sector in order to provide more protections to consumers and businesses concerning mobile commerce. Mobile payments are still quite new and lack any comprehensive regulatory structure. Without adequate regulation, mobile payment services are not required to adhere to any specific standards, therefore leaving some consumers exposed to possible exploitation due…

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Mobile commerce and guns do not mix, according to Square

Jesse Collins
Square Inc. mobile payments nfc technology

Square restricts mobile commerce services concerning firearm sales Leading mobile commerce firm Square has made changes to its terms of service agreement that bar the purchase of firearms, ammunition, and other associated products and materials. The firm is seeking to limit the sale of products that it considers to be designed to cause physical injury. This move will not stop U.S. consumers from purchase firearms, of course, but they will not be able to do so through Square’s mobile commerce services. Mobile commerce makes slow progress in the US Mobile…

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European Union debates mobile payment regulations as more industry giants take part

Julie Campbell
Mobile-Commerce

Regulators in the European Union may choose to stimulate payments using mobile devices as those in other areas face struggles with services that are currently drawing the participation of industry leaders such as Apple Inc., Google Inc., and Visa Inc. According to a document produced by the European Commission that looks into perspectives for future industry regulations, the region doesn’t yet have a “concrete European framework” in place for systems that provide customers with the ability to buy products and services using their mobile phones. The document stated that “As…

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