Who Is Regulating Mobile Payments?

Who Is Regulating Mobile Payments?

Every day, Americans use their smartphones to transfer money, pay for goods and services, and make donations. These transactions are collectively referred to as mobile payments. This infographic provides an overview of the many federal agencies that oversee the mobile payments marketplace, including payment processors and products. Regulatory overlap, gaps, and ambiguities exist in the federal and state laws that govern mobile transactions initiated with traditional financial institutions and with payment providers that are not affiliated with banks. And many laws have not kept pace with mobile technology. These uncertainties need to be addressed to create a level playing field for industry participants and provide appropriate and consistent protections for consumers who make payments using mobile devices.

Download the full infographic.

The front facade of the Supreme Court of the United States in Washington, DC.
ian-hutchinson-U8WfiRpsQ7Y-unsplash.jpg_master

Agenda for America

Resources for federal, state, and local decision-makers

Quick View

Data-driven policymaking is not just a tool for finding new solutions for emerging challenges, it makes government more effective and better able to serve the public interest.

Lightbulbs
Lightbulbs

States of Innovation

Data-driven state policy innovations across America

Quick View

Data-driven policymaking is not just a tool for finding new solutions for difficult challenges. When states serve their traditional role as laboratories of innovation, they increase the American people’s confidence that the government they choose—no matter the size—can be effective, responsive, and in the public interest.