21st CENTURY REGULATION: PUTTING INNOVATION AT THE HEART OF PAYMENT REGULATIONS

21st CENTURY REGULATION: PUTTING INNOVATION AT THE HEART OF PAYMENT REGULATIONS

 

This PayPal report takes a deeper look at the transformation that is taking place in the payments industry, sets out why the approach to regulation can similarly innovate and transform, offers concrete ideas about how this could be done and ends with a case study and recommendations.

Part 1: The Context explains how the business of payments is
being transformed across key areas of the payments landscape and how this transformation is challenging the existing regulatory approach, and offers significant potential for more effective and more efficient regulation.

Part 2: The Problem sets out the ‘timeless’ goals and key objectives of payments regulation believed to be shared by all stakeholders. It then highlights how the existing process is falling short of achieving those goals.

Part 3: The Solution shares PayPal’s ideas for improving the current regulatory process by gathering market data and applying modern technology and analytics tools. It also advocates a new model for developing regulation based upon Dynamic Performance Standards and SMART Governance so that the regulatory process can benefit from the same cutting edge practices that are revolutionizing industry.

Part 4: The Action applies PayPal’s ideas to a key payment attribute, identity, showing how they can be employed to improve the effectiveness and efficiency of Know Your Customer regulation before making several concrete recommendations for putting our ideas into action.

Read the full report here: PayPal-Payment-Regulations-Report-US

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