= Subscriber content; or subscribe now to access all American Banker content.
Player Template for http://www.americanbanker.com
Are Regulations Killing Payments Innovation?
August 16, 2013

From California to New York, state regulators have been clamping down on payments industry innovators, forcing some out of business and discouraging others from even entering the market. That raises the question of whether antiquated statutes and ways of thinking have become an impediment to one of the banking industry's most promising growth businesses.

Related: How California Law Put a Hot Payments Innovator on Ice

Comments (1)
I don't think that's the question to ask. The question to ask is why and who benefits? Innovation is always resisted by legacy businesses especially those that pay well and have shareholder responsibilities.

Some businesses such as square for example seem to be so well done that they might out manoeuvre these obstacles. Florida is just a minor hiccup. State malarkey will vary from state to state depending on the needs of the respective states.

Posted by Templar | Friday, August 16 2013 at 4:02PM ET
Post a Comment
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.