The new transnational payments law and global consumer trade

Online platforms as providers of private legal orders

Agnieszka Janczuk

    Research output: Working paper › Discussion paper › Other 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

    Fingerprint

    legal order
    state law
    Law
    market
    transaction
    obligation
    globalization

    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

    Cite this

    Janczuk, Agnieszka. / The new transnational payments law and global consumer trade : Online platforms as providers of private legal orders. Tilburg : TILEC Discussion Paper, 2015.
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    Janczuk, A 2015 'The new transnational payments law and global consumer trade: Online platforms as providers of private legal orders' TILEC Discussion Paper, Tilburg.

    The new transnational payments law and global consumer trade : Online platforms as providers of private legal orders. / Janczuk, Agnieszka.

    Tilburg : TILEC Discussion Paper, 2015.

    Research output: Working paper › Discussion paper › Other research output

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    N2 - 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.

    AB - 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.

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    KW - peer-to-peer payments

    KW - payment service providers

    KW - payment systems

    KW - PayPayl

    KW - e-commerce

    KW - consumer protection

    KW - two-sided markets

    KW - private lawmaking

    KW - private rulemaking

    KW - globalization

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    Janczuk A. The new transnational payments law and global consumer trade: Online platforms as providers of private legal orders. Tilburg: TILEC Discussion Paper. 2015 Nov 1.

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