EU authorities appear unlikely to accept that card payments can be “initiated by the payee” in some situations, potentially causing an authentication headache for some online platform businesses.
The Netherlands has come to the verge of completing its long-awaited transposition of the revised Payment Services Directive (PSD2), with the national law being approved on Tuesday by the Senate...
Banks will need to “provide evidence” to their national regulator that access interfaces do not provide obstacles to third parties, according to final guidelines issued this week by the European...
The European Commission has been asked to decide whether card transactions can be deemed “initiated by the payee”, and therefore exempt from incoming authentication rules, with the outcome set to...
The UK’s data protection regulator has reassured financial institutions that it will work with them to navigate potential clashes between separate EU legislation on payment services and data privacy.
The European Banking Authority is contemplating its response to a series of recommendations issued this month by the API Evaluation Group, as firms sweat over meeting tight deadlines for...
France’s central bank is confident that financial institutions in the country will readily meet the EU deadline for having their application programming interfaces (APIs) approved once long-awaited...
European banking groups are encouraged to take on board conclusions reached by the Brussels-based API Evaluation Group, even if some of its recommendations are not based on legal requirements.
The European Central Bank is prepared to take action to allow non-banks access to its incoming real-time payment system, particularly if banks show “resistance” around granting fintechs well...
The European payments industry is split on how a “whitelist” of trusted payees will work for third-party providers once new security rules take effect next September.
Concerns are growing that European banks developing application programming interfaces (APIs) could miss next year’s deadline for gaining regulatory approval, leaving third parties and national...
A Brussels-based cross-industry group has issued its long-awaited final recommendations for the functionality that banks’ application programming interfaces (APIs) should offer if they are to gain...
A recent ruling by the EU’s top court on the definition of a payment account could have far-reaching implications for banks and third-party providers, legal experts believe.
European payments experts have suggested that banks building application programming interfaces (APIs) should consider creating a better authentication process than provided by their customer...
European payments and retail groups have pleaded with authorities to let them use a payer’s card details as one of two authentication factors for an online transaction, at least for a temporary...
The European Banking Authority has responded to uncertainty over the application of incoming authentication rules, particularly when a third-party provider is being used.
A major British retail group has called on the government to use next week’s budget as a platform for injecting greater competition into the payments sector, by supporting emerging third-party...
Dutch officials believe major EU payments reforms are now unlikely to be transposed into national law before February next year, after months of legal wrangling over data privacy and consent.
Too many banks are treating the development of application programming interfaces (APIs) as a compliance exercise, hampering uptake of third-party payment services, industry insiders have argued.
Whether application programming interfaces (APIs) are the most secure method for third-party access remains an open question, experts believe.

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