Fintechs brace for new consumer-protection rules
The framework tightens disclosure requirements and sets a cap on certain transaction fees.
Digital-payments companies are preparing for a new consumer-protection framework that will require clearer fee disclosure and impose limits on charges for some low-value transfers.
The rules, which take effect next quarter, are intended to improve transparency in a market that has expanded rapidly over the past five years.
Cost of compliance
Smaller operators worry that the fixed cost of compliance will favour incumbents, while consumer groups have broadly welcomed the change.
Several companies said they are already adjusting product pricing and disclosure language ahead of the deadline.
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About the author
Chinedu Nwosu
Technology Editor
Chinedu Nwosu writes for BusinessPress.
