Digital Wallets, E-Payments Among Top Legal Risks For Businesses This Year

 Friday, January 15, 2016

 Canadian Underwriter

Contactless payment methods, a common-law duty to "act honestly in the performance of contractual obligations" and the proposed Trans Pacific Partnership international trade agreement are among the top 10 legal risks for businesses this year, law firm Borden Ladner Gervais LLP suggested in a recent report."The advent of mobile and digital wallets coupled with contactless payment methods and the ever-increasing growth in on-line payments have made e-payments become ubiquitous and have increased the need to develop effective authentication protocols, technology, policies and procedures to mitigate and reduce the risk of fraud," BLG stated in Top 10 Legal Risks for Business in 2016, released Jan. 11.
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