What does PSD2 mean for your business?

From January 2018 onwards, the Payment Services Directive 2 will be implemented across the Eurozone. Under this new legislation, companies that act as intermediaries for online transactions between sellers and buyers may need to become licensed payment institutions to continue operating. This could radically disrupt the processes of some of ecommerce’s highest performing companies, including…

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Big Data: Smart Compliance and Privacy Laws and Regulations

Today’s service providers, such as search engines, social networks, banks, eInvoicing and payment services, are collecting huge amounts of personal data for a variety of purposes. This so-called “Big Data” revolution brings a series of legal compliance issues. As a partner of IT law firm time.lex, I highlighted below the benefits, challenges and opportunities concerning…

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MIFs – An Independent Payment Solutions Provider Perspective

On 29th January 2014, in London, I was invited by Vendorcom to speak about multilateral interchange fees (MIFs) from a payments solution provider perspective. Together with industry experts from companies such as ACI Worldwide, Elavon, Merchant Services, Retail Decision, Verifone, Retail Decisions and industry bodies such as the UK Cards Association and the PAN Nordic…

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Edwin Jacobs on the Membership of the Cross-border eCommerce Community

World IT Lawyers is an international alliance of law firms. All our lawyers are specialised in legal aspects of eCommerce. We believe that market players in the eCommerce world should benefit from an interdisciplinary approach such as cross-border eCommerce Community, for whom we will offer the legal components.   Legal aspects of eCommerce approached by…

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E-payments & M-payments, a complex compliance framework

As Vice President for Global Compliance at Payvision, I would like to share my views on the challenges E-payments & M-payments providers may face when operating in the cross-border ecommerce space. The current regulatory landscape is quite fragmented and lacks consistency, due to the many sources of regulations and the domestic approach by which regulation…

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Cloud Computing and EU Financial Services

For some time now the EU’s financial services sector has sought clarification upon when and to what extent it may use public cloud computing. Recent developments in the Netherlands and the UK may shed a little light on the issue.   In recent years many organisations have been transitioning from the private cloud (residing within…

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E-Invoicing in Public Procurement: Legal Developments

On 26th June 2013, the European Commission (“the Commission”) published both a communication (“the Communication”) entitled “End-to-End Procurement to Modernise Public Administration” and a related proposed draft directive (“the Draft Directive”) on “Electronic Invoicing in Public Procurement”. This legislative proposal is now being considered by the EU’s Council and Parliament and there has already been…

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Friendly Fraud in the International eCommerce Space

As card-not-present fraud migrates due to the transition of Chip & Pin payments, we see fraud levels rising in the US. At the same time, as online merchants choose to expand internationally they face increasingly high levels of fraud in their cross-border transactions. So one of the biggest challenges CNP merchants active in international eCommerce…

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