The Internet, technology and data are transforming commerce, shopping and payment. It could and should also transform policymaking to ensure the policy processes and instruments are efficient, effective and apt for innovative markets and technology-empowered users. eBay and Pay Pal want to spur debate about smarter regulation.
In September 2012, we organised a seminar in Stockholm together with the Swedish Minister for Trade where we encouraged policymakers to “Think 3.0”: What policies are needed to support changing trade patterns? Do we need new decision-making models to ensure smart and flexible policies?
On 28 May in Brussels PayPal launched a new vision for regulation, which develops our Think 3.0 ideas with concrete application to the payments area. Pay Pal’s vision can serve as a regulatory reform model for policymakers across to globe and beyond payments. It is a global initiative to encourage the creation an environment of innovation and cooperation in the field of regulation
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Bringing Payments Regulation Into the 21st Century
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Dr. Ewa Björling, Swedish Minister for Trade, Headlines eBay Inc.’s “Think 3.0” Event
“To make the most of the opportunities, it’s not enough to have technology, computer capacity and broadband. It’s also about the legal framework which too often is based on the traditional ways of trading”, said Trade Minister Björling.