By Patrick Gunning, Kate Jackson-Maynes, Nick Valentine and Charles Davies. King & Wood Mallesons

gunning_pjackson-maynes_k1. The payments mix is increasingly digital…

The use of cash and cheques is diminishing in modern economies. Traditional payment cards are being challenged by digital wallets.

2. Payments systems rely on network infrastructure…

To support many-to-many payments, there must be network infrastructure to which payment service providers have access. Competition amongst service providers should lead to greater choice for users of the payment system.

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