Mon, Sep 10, 2018 - Page 6 News List

EDITORIAL: Consumer protection key to fintech

The regulations allow JKo Pay to accept deposits as stored value funds to facilitate payments and fund transfers between users, but, as an electronic payment institution, the company’s license does not grant it the same status as a bank. It cannot use guaranteed returns or interest income to attract funds and build up a client base.

Whether the commission is proactive or conservative in situations such as the Jko Pay case, an emphasis on consumer protection is crucial.

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