tag:blogger.com,1999:blog-16688455.post4783503984537060282..comments2024-03-18T09:13:19.346+00:00Comments on panGloss: E-money Rides Again, at the Least appropriate Time Possiblepanglosshttp://www.blogger.com/profile/00900934369744270540noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-16688455.post-75388532511301997512008-10-23T15:34:00.000+01:002008-10-23T15:34:00.000+01:00LilianThanks for the post. FYI, the link to the co...Lilian<BR/><BR/>Thanks for the post. FYI, the link to the consultation on El Reg is wrong, and should be http://ec.europa.eu/internal_market/payments/docs/emoney/com_2008_627_en.pdf<BR/><BR/>One sure way to immediately increase the amount of e-money in circulation is to simply redefine it more broadly - hey presto!<BR/><BR/>Nevertheless, the consultation demonstrates yet again that regulation cannot be a catalyst for cross-border retail markets. There are too many practical obstacles that need to be overcome first, as the May '07 Civic Consulting report on the Consumer Credit Directive confirmed: language, culture, consumer preference for national products, lack of shared data on creditworthiness, tax/employment differences, difficulty in penetrating foreign markets, differences in consumer demand, lack of confidence in foreign brands, different stages of market development, lack of adequate marketing strategy. (see here for fuller discussion (see http://sdj-pragmatist.blogspot.com/2007/11/can-eu-regulation-create-cross-border.html).<BR/><BR/>While there's a ton of commercial stuff going on in relation to e/m-payments on a member state by member state basis, whether this initiative proves very useful for anyone remains to be seen. The attempt to achieve consistency with the Payment Services Directive is laudable, but the impact of the PSD itself is hardly very widely understood and neither addresses the practical obstacles mentioned above.Pragmatisthttps://www.blogger.com/profile/00936849584688147006noreply@blogger.com