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Friday, October 29, 2004

German Federal Institute for Financial Services Supervision Issues Germany's First E-Banking License to A Telco Operator

The German Federal Institute for Financial Services Supervisions authorised the NCS mobile payment Bank GmbH under NAK 32, Para. 1, Clause 1 combined with NAK 1, Para. 1, Clause 2, No. 11 German Banking Act, to issue and administer electronic money (e-money business). See: http://www.newratings.com/analyst_news/article_501499.html.

Undoubtedly this is the first of many more operators to follow. A new market is now emerging, which is the market of regulated or unregulated mobile operators. In that market NCS mobile payment Bank is now officially the first mover (with Vodafone UK being the unofficial zero-mover; operating under the waiver of a small e-money operator.



Wednesday, October 27, 2004

Oyster: from travel card to e-money

A good news story with more information on the Oyster transport card, used in London. Only one error with respect to e-money. If the system were to expand via the 'second possible expansion route' towards other transport companies. It would most likely also be viewed as e-money. With one issuer and more than one merchant, the system allows payment to third parties and becomes e-money.



Monday, October 25, 2004

Yahoo Direct has to give in to Paypal

Emerce reports that Yahoo will stop its payment method: Yahoo Direct as of November 22 this year. It was unable to get a substantial foothold in the market for auction-payments alongside competitor Paypal (who has two thirds of this market).




Friday, October 22, 2004

The value of an e-money license

Some interesting news at the this is London website:
News that NETeller has won authorisation from the Financial Services Authority to operate as a regulated e-money issuer boosted shares in the IT group by 47p at 299 1/2p.
Economists may now further calculate the value of an e-money licence.

Meanwhile the good news on Ebay profits (which include the Paypal earnings) created a mini-rally in New York.



Monday, October 04, 2004

CashChange.com shut down by central bank

Ian Grigg pointed me to this message at CashChange.com:

"Dear Customer,

We are forced to stop all banking activities as an exchanger by order of the dutch national bank. This goes for all our e-currency options."

Now this company may be a scam (see also the reports here). So it'a good thing it's been shut down. But what about other players in the market that can still go about without having to answer to compliance officers of the central bank?



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