[LINK] Questions about the New ePayments Code
kim at holburn.net
Mon Oct 24 09:23:29 AEDT 2011
I don't suppose they mention bitcoin.
On 2011/Oct/24, at 8:20 AM, Roger Clarke wrote:
> [This news is a month old, but it only just reached me, and I've not
> seen it reported.]
> RIP the ETF Code of Conduct 1986-2013.
> ASIC issued a replacement code on 20 Sep 2011, called the ePayments
> Code, said to follow "widespread consultation between ASIC, industry
> and consumers".
> "A major objective of the review was to ensure the Code covers all
> consumer electronic payment products, not just those from traditional
> banking organisations". The Media Release trumpeted the news that
> PayPal "has agreed to sign up ... by the end of the transition period
> which is 20 March 2013".
> The Code encompasses "ATM, EFTPOS, debit and credit card transactions
> (including contactless transactions), online payments, internet
> banking and BPAY".
> It's unenforceable. But the EFTS Code of Conduct has been (almost
> entirely?) respected by those organisations that had signed up to it.
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