Mobile Payments: An Evolving Landscape

Citation
Federal Deposit Insurance Corporation (FDIC), Mobile Payments: An Evolving Landscape, Supervisory Insights (Winter 2012) (full-text).

Overview
This article concerns the growth of mobile payments and the responsibility of banks and non-bank third parties to comply with existing laws and regulations. It includes an overview of the mobile payments' market, an analysis of current technologies supporting mobile payments, a discussion of risks associated with mobile payments and a summary of the legal and supervisory framework governing mobile payments. The article also raises the specter of disintermediation of bank activity in mobile payments, suggesting that the FDIC will both monitor and exert jurisdiction over non-bank companies as they gain market share in the mobile payments space.