Professor Chao-Hung Chen, Associate Director of our Center, has contributed a chapter to the edited volume A Research Agenda for Financial Law and Regulation, entitled Regulation of Payment Systems from the Perspectives of Consumer Protection and Fraud Prevention.
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This chapter analyzes the regulatory frameworks of Singapore, Hong Kong, and Taiwan from the perspectives of consumer protection and fraud prevention, examining the obligations of Payment Services Providers (PSPs) under contractual arrangements and regulatory requirements. The study argues that private contractual law alone is insufficient to effectively regulate PSPs’ standards of conduct. Instead, a degree of regulatory intervention, supplemented by contractual terms, is necessary to provide more comprehensive protection. The chapter further compares the three jurisdictions in terms of payment processing efficiency, client fund protection mechanisms (such as trusts, deposits, and minimum capital requirements), and fraud risk management, highlighting the crucial role of regulatory policies in building a secure payment environment.
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For publication details, please refer to:https://www.elgaronline.com/edcollchap-oa/book/9781803929996/chapter11.xml

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