Innovation and Regulation in Payments: WePay's Week in Payments

February 10, 2017 Payments
By Owen Linderholm, Senior Content Strategist
By Owen Linderholm, Senior Content Strategist

Innovation and Regulation

The two constants in the Fintech and payments space are innovation and regulation. Innovation is driving the pace and is responsible for the dramatic growth in Fintech solutions. Regulation in contrast has been slower to appear, with a laissez faire attitude from regulators. This is partially fueled by the inability of regulators to keep up with the rapid pace of change in the space and partly fueled by a belief that intervention in the space would be counterproductive.

But regulators are stirring and innovation might be slowing, so the status quo could change very rapidly.

PaymentsViews from Glenbrook Partners has a great piece on the imminent arrival of real time payments (about time) and how they will affect the industry.

Simultaneously the rapid growth of contactless payments has itself been disrupted by the arrival of Apple Pay as a major player. Apple Pay just took over the number one spot in mobile payments from Paypal.

Fox Business took a look at what Mastercard is up to in order to share up its market share and extend its capabilities, particularly in terms of safety, security and making payments as simple as possible.

PYMNTS.COM took a look at Buildertrend and its transformation from a pre-smartphone company looking to build a platform for contractors all the way to a vertical SaaS platform for builders that is offering payments as a service to its customers.

Our own Bill Clerico was interviewed by Forbes about our plans to take payments for platforms to a new level so as to help our customers use payments as a way to generate new business and revenue.

Should Fintech companies offering banking related products be offered special purpose national bank charters? National Real Estate Investor says that the answer from the U.S. Office of the Comptroller of the Currency (OCC) is very much yes.

At the same time Fortune Magazine has a warning about Fintech regulation and a proposal for how to the industry can take off with minimal regulation.

About the author


Owen Linderholm, Senior Content Strategist

Owen Linderholm is Senior Content Strategist at WePay. He has previously held content and editorial roles at Yahoo, Microsoft, IDG and the BBC.

More blog posts by Owen Linderholm