FinTech Stories by Taylor Wessing

Our host Miroslav Duric talks to guest Roeland Van der Stappen from Coinbase.

In recent years, boosted by the changing consumer habits in the wake of the COVID-19 pandemic, the e-commerce sector has experienced an exponential growth. This new environment has created a particularly fertile breeding ground for the rapid emergence of a new consumer financing model that is getting ever more popular, the so-called Buy-Now-Pay-Later (BNPL). By providing customers with the flexibility, to pay for goods purchased online in several interest-free instalments, BNPL has quickly become one of the fastest growing payment methods in many countries around the world. In the coming years, the BNPL market is expected to continue its growth fuelled by the expected increase in the number of customers and transaction volumes as well as the expansion into new markets of the leading BNPL firms. But how is BNPL regulated in the EU and the UK, what are some key developments that entities active in this sector shall be aware of and what lies ahead for this rapidly growing sub-sector of the fintech industry? Find out in our next episode, in which our experts Mila Pencheva (Senior Associate, Financial Services Regulatory, London) and Miroslav Đurić LL.M. (Senior Associate, Financial Services Regulatory, Frankfurt) discuss key regulatory aspects of BNPL from the EU and the UK perspective.

In 2024, we are about to witness finalization of some key pieces of EU financial regulation that will in many ways reshape the regulatory landscape in the EU. By delivering on the EU Commission’s promises laid out in the Digital Finance Strategy and the Retail Payments Strategy published in September 2020, the EU lawmakers are expected to finalise a number of important legislative proposals. As these proposals move closer to their final phase, stakeholders across the financial services industry and the fintech ecosystem are closely monitoring their progress, recognizing the potential impact on business operations, market dynamics, and regulatory compliance. What can we expect in 2024 when it comes to the Markets in Crypto-Assets (MiCA) Regulation, Digital Operational Resilience Act (DORA), PSD3/PSR and the newly proposed EU framework on open finance? Find out in our second episode of 2024 FinTech Outlook series, in which our experts, Dr. Verena Ritter-Döring (Partner, Frankfurt) and Miroslav Đurić LL.M. (Associate, Frankfurt) have discussed key regulatory topics that will be of importance for the fintech industry this year.

In September 2020, the EU Commission has presented its ambitious Digital Finance Action Plan that aims to make the existing EU financial regulations more digital friendly and safe for consumers in the digital environment. A number of different legislative proposals that were announced as part of this Action Plan were due to be published by the end of this year. Our experts Verena Ritter-Döring and Miroslav Ðuric discuss the following questions, among others: What can the FinTech industry expect in 2023 when it comes to PSD 3, MiCA, DORA as well as the regulation of Buy-Now-Pay-Later and the use of AI in the financial services sector? These are the topics that we explore for you in our first episode together with Clare Reynolds (London). Clare advises companies on the regulation of cryptocurrencies, payment systems and new models of eCommerce.