Update On Japanese Payment Service Regulations Draft Amendments Have Been Published For The And Guidelines Implementing To Services Act News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To print this article, all you need is to be registered or login on Mondaq.com. I. On June 5, 2020, the Diet of Japan adopted several amendments to the Payment Services Act (Act No. 59 of June 24, 2009) (the PSA ). The amendments include reforms of the licensing/registration system for fund transfer service providers, the introduction of several categories of fund transfer services, and certain enhancements to regulations on issuers of prepaid payment instruments. For a summary of these statutory amendments, please see our client alert dated July 15, 2020 1. For the purposes of this article, it is expected that the reader has a general understanding of the current contents of the PSA.

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