The new transnational payments law and global consumer trade: Online platforms as providers of private legal orders

Agnieszka Janczuk

    Research output: Working paperDiscussion paperOther research output

    Abstract

    This article uses the example of one of the best-known global payment systems provided by an online platform, PayPal, to analyze the role of private legal orders in creating new markets beyond jurisdictional borders. It shows that a relatively uniform legal order reduces risks involved in cross-border transactions and in this way enables transnational markets. While transnational law is more easily created by private entities (like online platforms) rather than states, it remains embedded in state laws. The continuous role of state law in shaping transnational private legal orders is guaranteed because the latter operate with the endorsement and support of states. In this way states facilitate globalization. At the same time, the impact of state laws is fragmentary and disintegrates the applicable global private legal framework. Finally, the scattered influence of state laws undermines the protection offered to consumers. This is particularly important, because mutual rights and obligations between transnational private rule-makers, like the online platform PayPal, and their ‘users’ tend to be strongly biased in favour of the former.
    Original languageEnglish
    Place of PublicationTilburg
    PublisherTILEC Discussion Paper
    Volume2015-024
    Publication statusPublished - 1 Nov 2015

    Keywords

    • payments law
    • transnational law
    • online platforms
    • internet intermediaries
    • peer-to-peer payments
    • payment service providers
    • payment systems
    • PayPayl
    • e-commerce
    • consumer protection
    • two-sided markets
    • private lawmaking
    • private rulemaking
    • globalization

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