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EMVCo Standards Stifled Competition To Visa And Mastercard, Study Claims
12th Dec 2019 | Written by:
A consortium of U.S. retail associations and debit networks have accused Visa and Mastercard of using EMVCo standards as a vehicle for restricting competition and protecting revenue despite...
Australia Floats Ban On Buy Now, Pay Later No-Surcharge Rule
2nd Dec 2019 | Written by:
Australia’s central bank is considering a ban on buy now, pay later (BNPL) providers preventing retailers from surcharging customers, as it sketches the outline of a major review of the country’s...
In Depth: Regulators Tussle Over Competition Versus Reliability For New UK Payments Scheme
28th Nov 2019 | Written by:
Few are prepared to venture a guess of the size of the contract to be awarded by the UK’s top payment systems operator, Pay.UK, to supply the engine of the country’s new retail payment system — but...
ECB Tells Industry To Build New Continent-Wide Payment Scheme
27th Nov 2019 | Written by:
The European Central Bank (ECB) has thrown its weight behind the creation of a new continent-wide payment system for both retail and e-commerce, warning that reliance on global financial giants...
Australian Regulator Set To Probe Buy Now, Pay Later Surcharging Rules
23rd Oct 2019 | Written by:
Shares in Australia’s buy now, pay later juggernauts have tumbled after the Reserve Bank of Australia said it was gearing up to probe the sector and its refusal to allow retailers to pass on...
National Authorities Told To Regulate Libra In New Guidance
21st Oct 2019 | Written by:
The Financial Action Task Force (FATF) said on Friday that regulators should subject Libra, Facebook’s mooted global payments platform, to recently introduced standards on crypto-assets.
UK Money Mule Project Uncovers Fraud Risk To Digital Banks, Remitters
16th Oct 2019 | Written by:
Digital banks, money transfer operators and cryptocurrency firms in the UK are being exploited by complex networks of fraudsters and money mules, according to pioneering research by the banking and...
Regulatory Pressure Blamed As Payments Firms Quit Libra
14th Oct 2019 | Written by:
The head of Facebook’s controversial cryptocurrency project has said “intense” regulatory pressure prompted Visa and Mastercard to withdraw from the Libra Association, on the eve of its inaugural...
Belgium Country Report
11th Oct 2019 | Written by:
The payments framework in Belgium has changed, in particular, with the adoption of the Law of March 11, 2018, which transposes some provisions of the revised Payment Services Directive (PSD2), the...
Visa And Mastercard Fear Merchant Bias As UK Readies Acquiring Review
9th Oct 2019 | Written by:
Card networks Visa and Mastercard are concerned over plans by UK regulators to quiz merchants on their acquiring relationships, warning there is a risk certain retailers’ views could be over...
Travel Retailers Report 'Transparency Issues' Over Card Costs
7th Oct 2019 | Written by:
A major retail association representing the travel sector says its members have reported “serious transparency issues” around the fees charged by acquirers when accepting card payments.
UK: PSR Consults on Proposed Approach to Merchant Survey
1st Oct 2019 | Written by:
On May 22, 2019, the Payment Systems Regulator (PSR) released a consultation paper setting out its proposals on its approach to the merchant survey, as part of its initiative to conduct a market...
Wave Of Payments Consolidation Faces Regulatory, Political Barriers
23rd Sep 2019 | Written by:
Research by consultancy giant McKinsey has suggested the pressure on payments firms to achieve scale has driven a recent wave of consolidation, but said that commercial drivers are running up...
Payments Firms On Front Line Of European Commission's Libra Probe
23rd Sep 2019 | Written by:
Payment service providers are on the front line of the European Commission’s probe into whether Facebook’s cryptocurrency project poses a risk to fair competition in the continent’s financial...
Turkey Country Report
20th Sep 2019 | Written by:
Fintech is at an early stage of adoption in Turkey, but its market is one of the most rapidly expanding in the world. It is estimated that there are currently more than 200 fintechs operating in...
Retailers Call For Action On Accelerating Scheme Fee Hikes
19th Sep 2019 | Written by:
An influential UK retail group has said that fees set by Visa and Mastercard increased by 43 percent in the last year, prompting calls for regulatory reforms aimed at lowering the cost of card...
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