Franklin

Oversight Issues in Mobile Payments [electronic resource] Khiaonarong, Tanai..

Author/Creator:
Khiaonarong, Tanai.
Publication:
Washington, D.C. : International Monetary Fund, 2014.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 14/123.
IMF Working Papers; Working Paper No. 14/123.
Format/Description:
Government document
Book
1 online resource (35 p.)
Local subjects:
Central Banks and their Policies.
Communications Services.
Consumer Protection.
Financial Services Industry.
Government and the Monetary System.
Government Policy and Regulation.
Information Technology.
Low-Income Developing Countries.
Mobile Payments.
Monetary Standards and Regimes.
Oversight.
Payment Systems.
Risk Management.
Risks.
Safeguards System.
Technological Change. -- Choices and Consequences
Summary:
This paper examines oversight issues that underlie the potential growth and risks in mobile payments. International experience suggests that financial authorities can develop effective oversight frameworks for new payment methods to safeguard public confidence and financial stability by establishing: (i) a clear legal regime; (ii) proportionate AML/CFT measures to prevent financial integrity risks; (iii) fund safeguarding measures such as insurance, similar guarantee schemes, or “pass through” deposit insurance; (iv) contingency plans for operational disruptions; and (v) risk controls and access criteria in payment systems. Such measures are particularly important for low-income countries where diffusion is becoming more widespread.
Notes:
Description based on print version record.
Contributor:
Khiaonarong, Tanai.
Other format:
Print Version:
ISBN:
1498392059:
9781498392051
ISSN:
1018-5941
Publisher Number:
10.5089/9781498392051.001
Access Restriction:
Restricted for use by site license.
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