International law firm, Allen & Overy, alongside banking group, Standard Chartered, have introduced a Guide to Payment Regulations, a first of its kind, for enterprises and fintech customers operating in Asia’s fast-developing payments landscape. This guide aims to provide a user-friendly, comprehensive examination of regulatory frameworks influencing payments across eight pivotal Asian markets.
According to a press release on JD Supra, the Guide to Payment Regulations is a timely and beneficial response to the need for clear understanding of complex legal intricacies in light of this sector’s rapid evolution. The guide is an essential tool for corporates and fintech firms aiming to expand their business operations in Asia. Complexity and diversity of regulations often present hurdles for market entrants, and this guide seeks to streamline the process.
The manual provides comprehensive insights into the regulatory environments in eight key Asian markets: mainland China, Hong Kong, India, Indonesia, Malaysia, Singapore, Thailand, and Vietnam. It covers a broad range of topics including licensing requirements, foreign exchange controls, data protection, cybersecurity, consumer protection, and local payment system infrastructure. Its goal is to decode the regulatory environment and provide practical advice to businesses operating or looking to operate in these markets.
Working together, Allen & Overy and Standard Chartered have combined their substantial legal and financial expertise to offer a one-stop guide, delivering a lifeline to multinational corporations and fintech businesses seeking to navigate the dynamic payment landscapes and regulatory frameworks across Asia.