payment order

The development of electronic payment instruments and their online availability constitute important parts of the development of the EU payments market. Individual states adopt different approaches towards interpretation (legal aspects) and types of electronic payment instruments. To encourage sustainable payment services, minimize possible threats, and create favourable conditions for the development of new payment instruments, legislators adopt general legal acts stipulating the legal status of electronic payment instruments. However, the actual interpretation of payment instruments is often narrowed in legal practice, and does not cover payment instruments newly introduced to the market. A new insight into electronic payment instruments corresponding to the latest trends in the market is important in criminal law as well, because crimes related to the use of a payment instrument are common and difficult to investigate. In view of recent changes in payment services (the new Payment Services Directive in 2019), the norms of criminal law stipulating liability for the illegal disposal of electronic payment instruments must reflect circumstances predetermined by today's technological developments. In terms of criminal law, a technologically neutral conception of the payment instrument is necessary, to include a wider range of payment instruments that differ considerably from conventional personalized payment cards. The aim of this article is, therefore, to demonstrate that the current regulation of the Criminal Code of Lithuania lags behind the development of payment instruments, and in order to avoid excessive criminalization it is proposed to narrow the application of Article 214 of the Lithuanian Criminal Code.

This paper explores the significance of the "contractual mechanism" behind electronic payment transactions and its influence on European legislation. Its main purpose is to investigate how European directives see the electronic payment operation and take in account its characteristics. Card payments are divided into two distinct contractual episodes: the debit or credit card contract and the consecutive mandates given by the cardholder to his bank to pay the suppliers and to debit his account. This division seems not to be taken into account by European legislator in 2008, on Directive 2008/48/EC on credit agreements for consumers, as it was not taken in account before, in 1987. The same can be said of Directive 97/7/EC on the protection of consumers in respect of distance contracts. In contrast, Directive 2007/64/EC on payment services in the internal market (PSD) seems to be a turning point in redefining the contractual structure behind payment transaction. This directive differentiates between single payment transactions not covered by a framework contract and individual payment transactions covered by such a contract. PSD distinguishes, namely for information purposes, the framework contract and the subsequent payment orders given by the user to the payment service provider. El presente artículo se ocupa del análisis del complexo contractual que sostiene una operación de pago mediante tarjeta y de su impacto en el derecho comunitario. Se pretende, en concreto, averiguar cómo las Directivas Europeas entienden el conjunto de operaciones que están por detrás del pago electrónico y como las enmarcan en términos contractuales.

In Malaysia, the particularly small sized sub-contractors are definitely benefited from payment provisions in the proposed Construction Industry Payment and Adjudication Act (CIPA Act), but need to enhance their knowledge in order to improve their awareness of the benefits of the Act. Accordingly, this on-going research attempts to introduce proper guidelines to the sub-contractors, in giving the knowledge, to claim for payment. Firstly, the research explored the problems and legal issues relating to payment default in law cases ...

We study consumers' attitudes towards sharing payments data with incumbent and new providers of payment and account information services, and using their services. This is important, in order to understand the possible impact of the revised Payment Services Directive (PSD2) on the functioning of the retail payments market. We do so using a representative panel of Dutch consumers. We obtain a number of results. First, consumers' propensity to give consent for payments data usage is highest if the data user is their own bank. Only a minority would give consent to the usage of payments data to make a financial overview with personalised offers. Second, an explicit financial reward can tempt more people to use this service and to demand the service from a BigTech instead of one's own bank. Third, support for the usage of payments data by other banks and BigTechs to decide on loans is also positively related to financial incentives. Finally, the propensity to use the two new PSD2 services is driven by consumers' trust in the providers of these services. Consumers have more trust in their own bank than in BigTechs.

Rezime: Prevara sa autorizovanim platnim nalogom predstavlja veliku opasnost za korisnike platnih usluga jer su iznosi tih transakcija često veći u odnosu na iznose kod neautorizovanih transakcija (zloupotreba platnih instrumenata), dok je povraćaj sredstava teže izvodljiv. Banke platioca za sada su uverene da u skladu sa propisima o platnim uslugama, u tim slučajevima ne mogu biti odgovorne za gubitak. Ipak, opšta pravila srpskog ugovornog prava koja bi se mogla supsidijarno primeniti, nalažu banci da upozori platioca koji je izdao platni nalog ako smatra da bi izvršenje takvog naloga bilo od štete za njega. Preduslov za aktiviranje ove dužnosti banke jeste da spram okolnosti konkretnog slučaja postoji razumno očekivanje da je uobičajeno razborit bankar mogao da posumnja u ispravnost (integritet) platnog naloga. Ako u takvoj situaciji banka nije upozorila platioca, u obzir dolazi primena instituta podeljene odgovornosti za nastanak, odnosno doprinos u nastanku štete iz Zakona o obligacionim odnosima.

In December 2007, the European Directive on payment services in the internal market was published in the Official Journal of the European Union. This directive, which has to be transposed into national legislation before 1 November 2009, contains many rules on payments, including rules on the allocation of liability in case of fraudulent use of a payment instrument. The aim of this paper is to briefly discuss the regime concerning fraudulent payment transactions which is incorporated in the new directive and, further, to find out in what way the directive had or will have an impact on Danish and Belgian legislation. More specifically, we will examine how the rules incorporated in the European directive, which is based on the principle of maximum harmonisation, are implemented in Belgium and Denmark, whether the implementations are in accordance with the directive and, finally, whether the directive and the implementations reduce or strengthen the protection of payment service users in the two countries and promote the creation of a common internal market for payment services.

d'Area e Collegamento Filiali § Servizio Supervisione sui Mercati e sul Sistema dei Pagamenti. Carmela Sorrenti ha fornito supporto editoriale. Le opinioni sono espresse a titolo personale e non impegnano in alcun modo la Banca d'Italia. Eventuali errori e imprecisioni sono attribuibili unicamente agli autori.

Nigeria cannot afford to fold her hands and watch other countries take its pride of place in the electronic payment system. It is a truism that no country can function optimally without an efficient financial system which can be triggered by electronic payment system. The study examines the user acceptability and payment problems encountered by Nigerians in utilizing electronic banking system. It equally ascertains the contribution of electronic retail payment to the elimination or reduction in problems inherent in the payment process in Nigeria. Data were sourced from both primary and secondary sources. Data collected were analysed using tables and percentages. However, we found out that cash usage is still very high in Nigeria irrespective of the efforts of Central Bank of Nigeria towards the adoption of electronic payment system. It is caused by the challenges of inadequate power supply, shortage of critical technological infrastructures, lack of sociocultural support and absence of regulatory framework that are required to operate seamless and effective electronic payment system in the country. We recommend that there is the need for the government to remove barriers to innovation, including regulatory barriers to pave way for rapid development of the electronic payment systems in Nigeria.

Currently payment using the QR code is one of the most important in mobile payment. Based on data from the Bali Provincial Statistics Agency in 2017, the highest number of cellular phone users was Denpasar Regency, which was equal to 80.88% while the lowest user was Bangli Regency, which was 53.26%. The purpose of this study is to analyze customer acceptance in the use of mobile payment specifically the QR Code and find out the strategies used in order to expand the reach of QR Code. The writing method is qualitative with interviews and documentation with the merchant QR Code and customers who make mobile payment transactions. The results of the study include acceptance of qr code in business transactions, soit can be concluded that the QR Code has not been accepted in business transactions and the provision of information still needs to be improved by implementing better strategies and socialization from the bank so that the program being launched runs as expected. The results of t...

Ever since money was invented as an abstract way of representing value, new and increasingly abstract representations of value were introduced. A corresponding progression of value transfer systems, starting from barter, through bank notes, payment orders, checque and later credit cards, has culminated in electronic payment systems. Ghana payment system has been predominantly cash-based. With the rapid growth of Information and Communication Technology (ICT),E-commerce is now acting as a means of carrying out business transactions through electronic means such as the Internet. E-commerce is the most recent step in the evolution of business transactions as it replaces or augments the swapping of money or goods with the exchange of payment, financial service kiosks, biometric payments, electronic payments networks etc and as technology develops, the range of devices and processes to transact electronically continues to increases while the percentage of cash and cheque transactions continue to decrease. As electronic payment systems have rapidly spring up as a means of business transaction globally in recent times, most organization or institution such as banks and insurance companies are making good use of this technology. Ghana is no exception in using this technology. Despite the immense benefits derived from the use of this technology, it is threatened by certain issues and challenges. This paper seeks to identify those challenges or issues related to Electronic Payment Systems in Ghana.

This article describes the basic mechanism of non-cash payments in Uzbekistan. The analysis of operations by means of non-cash payment is carried out. On the basis of the analysis and evaluation of current situation, the identified problems, the appropriate recommendations and suggestions are worked out for further improvement of the system of non-cash payments.

In its proposal for a Directive on payment services in the internal market (hereafter: the Proposal), the Commission of the European Communities (“the Commission”) purported to provide for “a harmonised legal framework” designed to create “a Single Payment Market where improved economies of scale and competition would help to reduce cost of the payment system.” Being “complemented by industry’s initiative for a Single Euro Payment Area (SEPA) aimed at integrating national payment infrastructures and payment products for the euro-zone,” the Proposal was designed to “establish a common framework for the Community payments market creating the conditions for integration and rationalisation of national payment systems.” Focusing on electronic payments, and designed to “leave maximum room for self-regulation of industry,” the Proposal purported to “only harmonise what is necessary to overcome legal barriers to a Single Market, avoiding regulating issues which would go beyond this matter.”...

Ever since money was invented as an abstract way of representing value, new and increasingly abstract representations of value were introduced. A corresponding progression of value transfer systems, starting from barter, through bank notes, payment orders, checque and later credit cards, has culminated in electronic payment systems. Ghana payment system has been predominantly cash-based. With the rapid growth of Information and Communication Technology (ICT),E-commerce is now acting as a means of carrying out business transactions through electronic means such as the Internet. E-commerce is the most recent step in the evolution of business transactions as it replaces or augments the swapping of money or goods with the exchange of payment, financial service kiosks, biometric payments, electronic payments networks etc and as technology develops, the range of devices and processes to transact electronically continues to increases while the percentage of cash and cheque transactions continue to decrease. As electronic payment systems have rapidly spring up as a means of business transaction globally in recent times, most organization or institution such as banks and insurance companies are making good use of this technology. Ghana is no exception in using this technology. Despite the immense benefits derived from the use of this technology, it is threatened by certain issues and challenges. This paper seeks to identify those challenges or issues related to Electronic Payment Systems in Ghana.

Ever since money was invented as an abstract way of representing value, new and increasingly abstract representations of value were introduced. A corresponding progression of value transfer systems, starting from barter, through bank notes, payment orders, checque and later credit cards, has culminated in electronic payment systems. Ghana payment system has been predominantly cash-based. With the rapid growth of Information and Communication Technology (ICT),E-commerce is now acting as a means of carrying out business transactions through electronic means such as the Internet. E-commerce is the most recent step in the evolution of business transactions as it replaces or augments the swapping of money or goods with the exchange of payment, financial service kiosks, biometric payments, electronic payments networks etc and as technology develops, the range of devices and processes to transact electronically continues to increases while the percentage of cash and cheque transactions continue to decrease. As electronic payment systems have rapidly spring up as a means of business transaction globally in recent times, most organization or institution such as banks and insurance companies are making good use of this technology. Ghana is no exception in using this technology. Despite the immense benefits derived from the use of this technology, it is threatened by certain issues and challenges. This paper seeks to identify those challenges or issues related to Electronic Payment Systems in Ghana.