Sweden is moving towards becoming an almost cashless society, with a strong and well-performing economy and a competitive financial market. The jurisdiction is fully aligned with the EU legal...
In November 2018, the National Payment Systems Act was published in the official gazette. The act gives more power to the central bank to oversee, organise, manage and regulate all matters...
In March 2018, Bulgaria enacted a new AML Act to implement the 4th Anti-Money Laundering Directive (4th AMLD). The country is also working on a cybersecurity initiative to protect the country’s...
Despite its size, Malta has emerged as a stable and innovative finance market. The country has been working to align its national legislation with the European standards, already implementing the...
Following the 2008 global financial crisis, and significant capital controls being imposed in the country, the Greek economy has started showing great signs of improvement. Regarding alignment of...
The Japanese payments system has a well organised institutional framework, contributing to a comprehensive approach to matters pertaining to the payments industry. Currently, Japan is going through...
Romania is moving towards a cashless society in terms of payment methods, introducing legislation in July 2018 on the issuance, licensing and prudential supervision of electronic money. This law...
Hong Kong’s main law provides that its government must ensure an economic and legal environment necessary to maintain it as an international financial centre; therefore, it is aligned with major...
India has been moving towards a “less-cash society” in the last two years, and has recently initiated numerous changes in the payments sectors to increase digital convergence.
The Bank of Thailand has been working to develop a legal foundation for payment systems in recent years. In April 2018, the Payment System Act entered into force, with the aim of unifying existing...
The Italian payments industry has had a digital transformation in the last decade; however, traditional means of payment, such as cash, still dominate the way in which Italians prefer to make...
South Africa is continually working to improve its payment systems, introducing new functionality and technologies, while at the same time ensuring security and stability. In September 2018, the...
The Netherlands has recently experienced its highest ever level of economic growth. This, coupled with anticipated changes to the Dutch regulatory payments framework in the coming months and...
Fintech is at an early stage of adoption in Turkey, but its market is one of the most rapidly expanding in the world. It is estimated that there are currently more than 200 fintechs operating in...
The Polish financial legislative system has been largely transformed in 2018 by three acts transposing EU legislation: the revised Payment Services Act (PSD2); the General Data Protection...
Canada is seeing increased innovation and competition in its payments market, and a plethora of changes have been made to its legal system, in particular with the forthcoming introduction of a real...

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