Overview of 2020 Italian Laws in Payment Services and Expected Trends for 2021

December 2020

Abstract

2020 has experienced significant changes in the Italian payments market and also the relevant legal framework has seen a substantial boost in terms of new laws and amendments to existing laws. Such increase of new laws in the payment sector is connected, inter alia, to covid-19 emergency which has necessarily changed the payment habits of consumers, shifting from the use of cash to the use of digital payment means. This article aims to provide a summary and overview of the main Italian law measures that have entered into force in 2020 in the payment sector, and also highlights which new laws will presumably be issued in 2021 or are currently under consultation.

Author

Andrea Brancatelli

Assistant General Counsel - Europe, MoneyGram , Italy

Andrea Brancatelli, is Assistant General Counsel for MoneyGram and responsible legal & regulatory matters within Europe & CIS which includes 52 countries. Previously Andrea Brancatelli worked in General Electric, in Milan, where he acted as Senior Legal Counsel for the Capital division of GE. His first in-house experience was in Borsa Italiana S.p.A. where he followed the integration with London Stock Exchange Group. At the beginning of his career Andrea was Senior Associate of the Law Firm Gianni, Origoni & Partners, within the Corporate and M&A department, and prior he worked with the Law Firm CMS Italy on employment law, banking, corporate and M&A. Andrea sat on the Board of Directors of the Italian Inhouse Counsel Association and headed a working group on AI and digital innovation. Andrea Brancatelli is mother tongue English speaker, holds a Law Degree from the University of Rome, is admitted to Bar since 2006 and is author of various publications on fintech and international law. Finally, Andrea Brancatelli contributes as speaker at conferences and appears in the General Counsel Legal 500 Powerlist prepared by Legal 500.

Company

MoneyGram

MoneyGram is a global leader in cross-border payments and money transfers. MoneyGram connects the world by making the movement of money across borders seamless, affordable and secure for everyone, enabling people and communities to realize their potential. MoneyGram’s innovative cross-border platform provides millions of consumers globally the ability to send money home for family and friends to pick up in cash or receive directly to a bank account, mobile wallet or card. With nearly 500,000 locations and five billion digital endpoints, MoneyGram provides one of the most robust digital and physical money movement networks in the world.

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