Legal And Practical Challenges Facing Consumers Essay

CHAPTER THREE LEGAL AND PRACTICAL CHALLENGES FACING CONSUMERS IN CROSS BOARDER MOBILE TRANSACTIONS 3.1 Introduction This chapter discusses the practical and legal challenges facing consumers in cross border mobile transactions. Given that positive outcome in any national payment system is envisaged on efficiency and confidence it is indispensable to focus on security issues and privacy in order to uphold public loyalty in cross border mobile transactions. Inadequate regulation of cross border mobile transactions has resulted to cyber crime and fraud. Consumers face many legal challenges which are discussed hereunder. 3.2 Legal and Practical Challenges Facing Consumers in Cross-Border Mobile Transactions 3.2.1 Multiplicity of the Complaint Settlement Bodies The law according to section 45(1) of the Electronic Money Regulations provides that the aggrieved customer should report to the money issuer who is suppose to solve the complaint within twenty one days and if the customer is not satisfied he or she can refer the matter to Bank of Tanzania, Tanzania Revenue Authority or Fair Competition Commission. This poses confusion to many of the customers who at the end of the day fail to get justice because of the multiplicity of the complaint settlement bodies. There is no integration of the complaint handling mechanism which poses as a challenge to consumers when they have lost their money during transfer. 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