On the PayPal Forward blog. Brian Bieron, Executive Director, Global Public Policy, for eBay posts an article about payments regulation in the 21st century - saying that
PayPal is stepping forward to meet this challenge by beginning a collaborative discussion about how increasingly ubiquitous 21st Century technology and data-analytics techniques used by technology-enabled organizations can be used by government regulators to make better and faster decisions to help deliver better results."
Along with the blog post, Bieron also links to three reports - one for Asia/Pacific, one for the EU and one for the US - each addressing payments regulation and suggesting a new approach to regulation that "will enable regulators to better achieve their goals, benefit consumers, and allow for a faster pace of business innovation."
For example, in the policy paper for the US, PayPal writes: "The regulatory landscape is frozen in an outmoded model for decision-making that is decades behind the times. New ideas and fresh thinking are required to thaw the ice." PayPal goes on to propose a new "Smart Governance Cycle" - detailed a multi-step cycle based on big data and careful analytics. The paper is a fascinating look at a whole new approach to understanding and adapting regulation to market forces while encouraging innovation in payments.