Peruvian telecoms regulator Osiptel has announced that it has approved rules regarding access of electronic money issuers to telecommunications networks, paving the way for the launch of mobile financial services (MFS). The new Standard Relating to Access of Electronic Money Issuers to Telecommunications Services, will allow financial services to be offered over telecoms networks. According to Osiptel, the new legislation will ensure a level playing field for the provision of electronic financial services: Osiptel has the power to monitor deals between financial service providers and network operators and the authority to intervene to set prices and terms, should the companies concerned fail to reach a mutually acceptable agreement within 60 days.
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