SWIPE, CHIP, TAP: Regulatory Dynamics in the Card Payment Industry and its Impact on Financial Inclusion

Jesse Mudaliyar, Senior Managing Counsel, VP, Mastercard, UAE

The card payment industry has undergone significant transformations with the advent of innovative payment technologies. This paper explores the regulatory dynamics shaping the industries and their consequential effects on financial inclusion. It discusses the different payment methods, including traditional swipe, EMV chip, and contactless tap, and explores the evolving regulatory frameworks governing these technologies.

Jesse is a General Counsel with over 20 years of proven success in providing interdisciplinary approach to legal and corporate consultancy across diverse businesses and sectors. Her experience spans private practice, manufacturing, technology, financial services and payments across the Middle East and Africa and Eastern Europe regions. Her specialties span across legal compliance, contract negotiation, regulatory assessments, risk management, and mitigation and commercial agility. She currently manages innovative, large-scale projects, including pioneering first-in-region use cases. She excels at supporting cross functional teams and establishing strategic partnerships both internally, and within industry ecosystems. Her qualifications include being a non-practicing lawyer with a masters in commercial and banking laws and anti-trust and competition laws. She is also a qualified life coach.

Mastercard is a leading global technology company in the payment industry and a leading provider of a full range of digital solutions and services, thought leadership, innovation, enablement digital transformation, connecting consumers, businesses, merchants issuers, acquirers and government around the globe. Our business imperative is to foster digital innovation by delivering to our customers relevant market leading products and services in the payment industry.