For a new brand of digital payments to introduce, it is of great importance that the market environment is the blend of legal and regulatory assurance - assurance will not only enable new brand to grow but also will give confidence to consumers to buy and use it. Thus the marketplaces that develop faster are those that have such environments that have legal and regulatory assurance to great extent. The most important concern here is to make certain that the market keeps open and has equal competition for consumers to adopt new brand models. The key features are:
1. Making the entry possible by making sure a high level of comprehensiveness about service providers, and also make sure that any person can use services of digital payments. Both financial and non-financial institutes should be promoted to enter the market.
The basic issues of regulatory authorities in the financial field focus on (i) keeping up financial constancy, (ii) raising economic competence, (iii) improving availability of financial services, (iv) assuring financial reliability, and (v) assuring consumer safety, and (vi) assuring rapid convenience of such services for the good deals with various requirements.
An assumption, the central attention of financial regulator to guarantee financial constancy, it is but usual for them to get focus of financial institution. But, disturbance to financial constancy deals with digital payments in a way that affects an entire system, especially of small scale. This uniqueness of retail should be well known and comprehended to avoid oppressive innovation.