Payment Services Act: The new Japanese regulatory framework for payment services

Mori, Takeshi; Takahashi, Yasufumi

Practice paper

Payment Services Act: The new Japanese regulatory framework for payment services

Takeshi Mori and Yasufumi Takahashi

Journal of Payments Strategy & Systems, 4 (1), 67-72 (2010)

https://doi.org/10.69554/FAWD1473

Abstract

The Payment Services Act (PSA) was enacted in Japan in June 2009 and will come into effect in April 2010. The PSA establishes the regulatory framework for issuers of prepaid payment instruments including ‘electronic money’, non-bank providers of funds transfer services and central counterparties for funds transfer transactions. The legislation is expected to open up markets to non-bank payment service providers in Japan. This paper briefly provides an outline of the PSA.

Keywords: Payment Services Act; retail payment services; prepaid cards; non-bank payment institution; central counter party for inter-bank funds transfer; Zengin system

The full article is available to subscribers to the journal.

Already a subscriber? Login or review other options.

Citation

Mori, Takeshi and Takahashi, Yasufumi (2010, March 1). Payment Services Act: The new Japanese regulatory framework for payment services. In the Journal of Payments Strategy & Systems, Volume 4, Issue 1. https://doi.org/10.69554/FAWD1473.