The UK’s financial regulator has revealed details about its preparations for new EU rules on secure customer authentication (SCA) — confirming that the September deadline will have to be swept...
European regulators are readying new guidance on September’s strong authentication reforms that could give payment firms a 15-month transition period to become fully compliant.
A senior executive at American Express has said “collateral damage” caused by EU-wide payment reforms has forced the card network to cut ties with dozens of bank partners.
The UK government is contemplating going beyond the scope of its existing open banking regime and extending third-party providers’ rights to include access to non-payment accounts.
EU authorities have responded to uncertainty about how payment providers should carry out transaction risk analysis under incoming strong authentication rules, as well as whether banks must confirm...
Denmark’s financial authority has told firms to expect strong authentication reforms to take full effect from September, despite concerns across Europe that the industry is nowhere near full...
The Dutch central bank and payments regulator has said authorities are already assessing the risk posed by technology giants from the United States and China, particularly as open banking beds in...
Lithuania is hoping improvements to safeguarding options for e-money and payment institutions will boost customer confidence in the sector and make them more competitive against banks.
UK regulators' willingness to accept a phased enforcement regime for forthcoming strong customer authentication (SCA) rules has been met with opposition from Brussels’ leading consumer protection...
A lack of industry readiness means incoming strong authentication reforms are now expected to cost businesses across the EU a total of €57bn, new research has claimed.
The UK’s Financial Conduct Authority (FCA) has taken the first steps towards delaying controversial strong authentication reforms beyond September’s deadline, PaymentsCompliance can reveal.
The EU will not extend September’s deadline for online payment security reforms but has not yet ruled out a compromise and is working on providing additional clarity to the industry, an influential...
Estonia’s financial regulator has revoked the operating licence held by payment institution GFC Good Finance Company, following a string of breaches of financial crime and payment services laws.
Germany’s top payment services regulator has revealed a recent crackdown on businesses transferring funds for online trading platforms without authorisation.
Third-party providers face an uphill struggle for adoption in Poland, researchers have suggested, with incumbents more concerned about the threat posed by technology giants and rival banks than by...
Authorities in Europe appear to be inching closer to a compromise on incoming strong authentication rules, following sustained warnings the reforms cannot be met in time for September’s deadline.
Industry groups are pressing regulators on whether incoming strong customer authentication rules can be delayed, arguing the drip-feed of guidance has created a “bottleneck” and left firms unable...
Lithuania’s regulator will consult further on going beyond the scope of the revised Payment Services Directive (PSD2) to provide broader access to data, after strong support from the industry.
Rumours are swirling that European authorities may be persuaded to extend September’s deadline for demanding and controversial new security rules. However, firms hopeful the reforms will be phased...
UK industry insiders have defended the slow uptake of new open banking offerings, saying that the underlying regulatory reforms are still bedding in and insisting the issue cannot be properly...

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