Doctoral thesis of Philosophy: Best practice in the regulation of payment services

The purpose of this paper is to explore a best practice framework for the regulation of payment services. It will discuss and assess some models as potential law reform concepts to be further developed. This paper will consider some possible models for the regulation of payment services involving the key elements of disclosure, minimum standards, prudential regulation and conduct licensing. It will also discuss supervision of the inter-bank payment system and a basic fair play regime. A possible regulatory model will be suggested as a contribution to future debate.