Did you hear the sound of trumpets and exploding fireworks? Yes, the Payment Services Directive 2 regulation became law this weekend across the European Economic Area. It’s a big deal. So how will banks, retailers and consumers respond? Ahead of a MEF Digital Connects this Thursday to debate the issue, Tim Green asks 13 questions…
Following the launch of MEF guidelines on the Payment Services Directive (PSD2) and ahead of the new regulation coming into effect this Saturday the 13th January, CLX Communications’ Rob Malcolm outlines the key things you need to know about PSD2, what it hopes to achieve and what affect it is likely to have on those in the Messaging and Cloud Communications industry.
First, let’s qualify exactly who PSD2 will affect. As stated in the MEF guidelines, PSD2 covers all relevant stakeholders of the mobile payment ecosystem, including banks, payment processors, vendors, service providers, enterprise messaging providers and MNOs. So, it’s fair to say that it will be essential for those in our industry to pay attention.
MEF’s PSD2 Guidelines are designed to give help all relevant stakeholders of the mobile payment ecosystem, including banks, payment processors, vendors, service providers and MNOs.
The guidelines were originally published in late 2015, when the Payment Services Directive (PSD2) was coming into force in January 2016.
With the deadline of 13th January 2018 looming for all member states to implement the regulation, the guidelines have been fully updated by MEF member Preiskel & Co and supported by CLX Communications, founding members of the Future of Messaging Programme, to provide a fully comprehensive update on this key regulation impacting the mobile ecosystem.
MEF CEO Rimma Perelmuter explores the consumer trust regulatory paradigm in this excerpt from a guest chapter of The Global Legal Group (GLG) ‘s latest lnternational Comparative Legal Guide to Telecoms, Media & Internet Laws & Regulations in association with MEF. The whole guide is available to download now.
Fifteen years ago, mobile content and services extended to simple Java games and ringtones or as text-to-vote platforms that encouraged viewers to interact with their favourite reality TV shows. Very little, apart from the mobile number, was tracked or known about the consumers that used them.
Tim Maiorino, Counsel of Osborne Clarke shed further light on how businesses can best prepare for the impending GDPR legislation, and offers some practical steps that should be undertaken to facilitate compliance.
The newest EU legislation on data protection is the General Data Protection Regulation (GDPR) which will be enforceable from May 26th 2018. It will bring several important changes, altering the requirements of data protection law in the European Union.
Rafael Pellon, MEF LatAm advisor and partner at Focaccia, Amaral, Salvia, Pellon & Lamonica Advogados, here explores the latest iteration of the MEF Value Added Services (VAS) Code of Practice for Brazil, now in its recently launched third edition, and examines why it is more important than ever for the health of the market.
Since 2010, the Brazilian VAS Industry has been strongly relying on MEF’s Code of Practice to tackle industry’s biggest issues and keep fraudsters out of it.
30th August 2017 São Paulo and London – Mobile Ecosystem Forum today launches version 3.0 of its Code of Practice for Value-Added Services in Brazil. The Code looks at how to communicate transparently with consumers in order to reduce fraudulent practices in the market.
Part of MEF’s VAS Regulation Initiative that launched in 2010 to enable the growth and sustainability of the mobile industry, the self-regulatory code is recognised by the Brazilian Telecom Authority (ANATEL) and all Mobile Network Operators as well as local and international content providers. 30 companies have signed up to Version 3.0 of the Code.
With just 6% of consumers happy to share their personal information MEF CEO Rimma Perelmuter looks at the impact of trust on businesses serving the mobile audience. MEF’s Consumer Trust report 2016 identified the rise of the Reluctant Sharer. Just 6% of consumers said they were always happy to share their personal information. 41% said they did not want to share data but felt compelled to do so if they wanted to use the app or service.
The ‘reluctance’ was not good for business and manifested itself in a lack of trust which prevented consumers from buying, downloading and doing more with their mobile.
Bots that manage your privacy controls; the use of telco data in public health; how your phone bill can be your credit rating. These are just three of the many fascinating ideas to emerge from MEF’s discussion at Money 20/20 on the personal data opportunity. Session moderator Tim Green shares his highlights…
In previous years, the ‘future of financial services’ show Money 20/20 might have been dominated by card fees or M&A. These days, one topic dominates – data.
The EU’s general data protection regulation (GDPR), is just under one year away and expands the rights of EU citizens around privacy and protection of personal data.
Among other things, it requires that companies maintain adequate data records, disclose data breaches and increase opt-out options. Heavy fines are on the table for companies that do not comply.
We asked MEF members and experts the wider mobile, legal and data industries to give us their thoughts on GDPR readiness, the implications for consumer privacy and whether or not they view the forthcoming legislation as an opportunity. Here’s what they said…