Regulation of E-Money & Payment Services - Key Requirements & Common Exclusions

Introduction

Any business that receives cash from one set of customers and makes payments to others in or from the UK might be issuing electronic money and/or offering payment services.

Regulations in this area can also affect gift vouchers or other forms of value that can be exchanged for goods or services, as well as services that enable the transfer of data from payment accounts or the initiation of payments, even without handling funds.

Examples of firms affected range from e-commerce marketplaces, to retailers, to accounting software providers, to regulated payment service providers.

Services that do not fall outside the scope of regulation could require authorisation or registration; or qualify for specific exclusions, some of which are still subject to some regulatory thresholds and registration requirements.

What You Will Learn

The webinar will cover the following:

• The scope of e-money and payments regulation
• The more common exclusions
• The key requirements for authorisation/registration
• Key operational requirements and standards

This webinar was recorded on 9th September 2020