WORLDLINE_REGISTRATION_DOCUMENT_2017
The Group’s business Regulation
Regulation C.5
Global regulatory landscape
C.5.1
As payment is a global business the Worldline Group has to consider the global regulatory landscape which is a quite complex task as the number of new initiatives is increasing year by year, impacting the stakeholders in different ways, some are addressing dedicated regions only and some various, and what it makes it even more complex is the overlapping in the scopes.
Please note below an illustration of Key Regulatory and Industry Initiatives KRIIs and its relevance for the geographical regions incl. Europe which is the main focus for Worldline (source WPR 2016).
From 2017-2018
From 2019-2020
2015
2016
> 2020
E
I
E
AML/ATF 4 th Directive
Bank Payment Obligation
C
E
E
E
BSA/AML Guidelines for Prepaid Products in the U.S. CPSS IOSCO EMV Adoption Financial Transaction Tax
E
E
E
I
I
Risk Reduction
Internet Payment Security Intraday Liquidity Norms and Reporting
E
Mobile Payments Security in Europe
E
E
Stored Value Facilities Ordinance in Hong Kong
E
Virtual Currency/Distributed Ledger Regulations
I
Access to Clearing Data Privacy and Protection including Cyber Security Electronic Identification and Trust Services Immediate Payments ISO 20022 Standards in Payments I
I
Large-Value Payment Systems Upgrades National e-Payments System in Thaïland Regulatory Framework for FinTechs SEPA/e-SEPA SEPA for Cards
Standardization
I
Interchange Fee Regulation
I
Intermediate point/milestone
Regulations on Payment Platforms in China
Australia Payments Plan
Competition and Transparency
E
End of initiative/regulation
Cross-Border Low-Value Payments Processing Financial Inclusion
Elapsed time
Global Payments Innovation Initiative by SWIFT Mobile Wallet Open API Banking Platforms Payment Security and Technology PSD II (Access to Accounts)
KRIIs cited in previous WPRs
U.K. PSR (Payment System Regulator) Unified Payment Interface (India)
Innovation
KRIIs introduced in WPR 2016
Note:
Timelines have been provided for regulations where they are specified, no timelines are specified for Industry-trend KRIIs; CPSS-IOSCO - Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO); SEPA - Single Euro Payments Area; Payment Security and Technology includes Contactless, Near Field Communication (NFC), Tokenization, Biometric Authentication, and Mobile Point of Sale (mPOS)
Source:
Capgemini Financial Services Analysis, 2016; WPR 2015, 2014, 2013, 2012 and 2011; SME Input
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Worldline 2017 Registration Document
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