First mapping of main juridictions

Web Payment Interest Group - Regulatory Issues Task Force

A first mapping of main jurisdictions

Approach statement

An attempt for mapping regulatory issues shall start through mapping the different jurisdictions ( the practical authority granted to a legal body to administer justice within a defined area of responsibility - Wikipedia) that are relevant for payment services.

For each of these jurisdictions and inside this area, we will be able to determine:

• The Regulatory Authority that is vested with the power to enact rules for the activity of Payment services in this geographical area
• The Supervisory Authority in charge of the supervision of payment services (authorization, management and oversight of the players and playing rules)
• The corpus and basic ressources gathering rules and regulations to comply with, within this jurisdiction, for Payment services (aka hyperlinks toward key regulations, supervisor's websites, ...)

Scope and goals of the first mapping

In order to keep such an inventory efficiently usable and feasable, it seems relevant to limit the focus of the list at a high "regional" level. For instance, the United States of America should be considered as a single main jurisdiction even if each state retains legal power for trade, commerce or banking and financial activities' oversight. Or the European Union (the EU) may be considered as a Single Area for Payment Services (the SEPA Aera which is broader than the EU stricto sensu) albeit that each national State has its own supervory authority (coordinated in the ESCB). A list of the local sub-jurisdictions may be sufficient for the first attempt of mapping.

Following TPAC 2016 in Lisbon, this mapping shall start with 4 areas.

• the USA: Pat Adler (Fed)
• the EU: Jean-Yves Rossi (CANTON-Consulting)
• China: Max Dapeng Liu (Alibaba)
• South Africa (Adrian Hope-Bailie)

Volunteers joined for other areas

• Russia and CIS countries (Belarus, Ukraine, Kazakhstan, etc.): Evgeny Vinogradov (Yandex)

And volunteers are still expected for other areas (Japan, South America,...)!

Draft geographical inventory

Work in progress....

Main jurisdictions

China - sub levels

...

The EU - sub levels

32 countries in the SEPA area have local (national) regulations for local adaptation of the SEPA rules Below are the 28 State members of the EU

USA - sub levels