Business, Management and Accounting
4 years ago

Patents in Financial Services Pose Risks for European Payment Systems

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Working paper
INTELLECTUAL PROPERTY RIGHTS AND STANDARD SETTING IN FINANCIAL SERVICES: THE CASE OF THE SINGLE EUROPEAN PAYMENTS AREA
Robert M. Hunt, Samuli Simojoki, Tuomas Takalo

Paper Summary

The Single European Payments Area (SEPA) aims to create modern cross-border payment systems in Europe. To achieve this, a standard-setting arrangement is needed. However, patents are increasingly important in electronic payment systems, so SEPA must address intellectual property ownership and licensing. Without a clear IP policy, there are significant risks for participants in the new SEPA payment systems.

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