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 , MoneyGram , Italy

Andrea Brancatelli, is Assistant General Counsel for MoneyGram and responsible for all legal matters within Europe & CIS which includes 54 countries. From 2019 to 2022 Andrea sat on the Board of Directors of the Italian Inhouse Counsel Association and headed a working group on digital innovation. Previously Andrea Brancatelli worked in General Electric, in Milan, where he acted as Senior Legal Counsel for the â€œCapitalâ€ division of GE. His first in-house experience was in 2009, when he entered Borsa Italiana S.p.A. to follow the integration with London Stock Exchange Group. From 2006 to 2011 Andrea was Senior Associate of the Law Firm Gianni, Origoni & Partners, within the Corporate and M&A department. At the beginning of his career he worked with the Law Firm CMS Italy - Adonnino Ascoli & Cavasola Scamoni, in the fields of employment law, banking, corporate and M&A. 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. Moreover, Andrea Brancatelli contributes as speaker at conferences on regtech, which focus on the relationship between law and new technologies. Andrea appears in the â€œ2017, 2019 and 2022 General Counsel Legal 500 Powerlistâ€ prepared by Legal 500 and was shortlisted for the â€œ2014 Emerging In-house Counselâ€ award organized by Top Legal.

Company

MoneyGram

MoneyGram is a global leader in cross-border P2P payments and money transfers. Its consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with over 70 countries now digitally enabled. MoneyGram leverages its modern, mobile, and API-driven platform and collaborates with the world's leading brands to serve millions of people each year through both its walk-in business and its direct-to-consumer digital business. With a strong culture of innovation and a relentless focus on utilizing technology to deliver the world's best customer experience, MoneyGram is leading the evolution of digital P2P payments.

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