23 October 2017
visit www.atos.net

Europe to review e-money rules

15 July 2005  |  5439 views  |  0 cash_2

The European Commission is to revisit the E-Money Directive to address recent developments in mobile telephony and Internet payment schemes.

The E-Money Directive was conceived and adopted at the height of the e-commerce boom, and was intended to address the activities of non-banks involved in digital cash issuance.

Recent advances in technology and the development of new business models, such as payments by mobile phones, transit cards and Internet payments, has prompted the Commission to re-assess whether the legal framework is still in tune with modern market developments.

Internal market commissioner Charlie McCreevy says: "I am personally committed to ensuring that the Directives we adopt fulfil their objectives and improve the functioning of the single market. Should the evidence prove that this is not the case, we will not hesitate to take decisive action."

The consultation is a follow-up to an earlier study on e-money and mobile operators which was finalised earlier this year. The findings from this exercise will be fed into the wider-ranging e-money review, which will also involve consultations with member states as well as the commissioning of an independent study to be carried out by consultants.

A report containing recommendations will be published by Spring 2006.
KeywordsE-COMMERCE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Transport for London unveils plans for e-money on Oyster

Transport for London unveils plans for e-money on Oyster

04 March 2005  |  12067 views  |  0 comments
Mobile payments operator NCS awarded e-money licence

Mobile payments operator NCS awarded e-money licence

29 October 2004  |  6198 views  |  0 comments
E-money debate casts shadow on pre-paid phone cards

E-money debate casts shadow on pre-paid phone cards

11 May 2004  |  4032 views  |  0 comments
Contopronto wins e-money licence

Contopronto wins e-money licence

06 January 2004  |  6332 views  |  0 comments
ECB lays out e-money guidelines

ECB lays out e-money guidelines

23 May 2003  |  4150 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.comvisit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
18333 views comments | 24 tweets | 36 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
14867 views comments | 23 tweets | 31 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10783 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
10231 views comments | 13 tweets | 10 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job