Journal of Financial Market Infrastructures
ISSN:
2049-5404 (print)
2049-5412 (online)
Editor-in-chief: Manmohan Singh
A dual consent approach for payments
Ron J. Berndsen and Daaf van Oudheusden
Abstract
ABSTRACT
This paper looks at payments where, due to a lack of trust between buyer and seller, it is beneficial to involve a guarantor for payments. We argue that this guarantor should obtain consent from both the buyer and the bank of the buyer (a dual consent approach). We recommend that such a dual consent approach becomes a minimal regulatory requirement for a large variety of payment methods.
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Copyright Infopro Digital Limited. All rights reserved.
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