On May 21, 2019, the Ministry of Finance issued a public consultation on amendments to the Payment Systems Act in light of the adoption of Regulation (EU) 2019/518 on cross-border payments (the...
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...
On May 9, 2019, the Financial Supervisory Authority (Finanstilsynet) published a risk and vulnerability analysis report on the financial sector's use of information and communications technology ...
PSD2 entered into force on January 13, 2018 repealing Directive 2007/64/EC (PSD1).  The revised Payment Services Directive (Directive (EU) 2015/2366), also known as PSD2, introduced new obligations...
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.
On November 27, 2018, the Bank of Lithuania launched a public consultation seeking feedback in regard to the need and conditions for open banking in the country, following regulatory changes made...
On September 4, 2017 the Ministry of General Government Affairs and Finance of Liechtenstein proposed a consultation for the transposition of the revised Payment Services Directive (PSD2). The...
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...
A European politician has backed a group of third-party providers concerned that banks are planning to restrict emergency account access once major reforms take effect in September.
On May 1, 2019, the Open Banking Implementation Entity (OBIE) released Open Banking Standard version 3.1.2, which enables enhanced features and functionality, extending beyond basic compliance with...
On April 26, 2019, the European Banking Authority (EBA) published clarifications to the third set of issues (VIII to XIII) that had been raised and discussed by participants of its working group on...
Banking groups with a presence in multiple European countries can share data from application programming interface (API) testing across separate legal entities, regulators have confirmed.
European industry experts have dismissed suggestions that uptake of third-party providers (TPPs) will be hampered by a lack of fraud protections compared to transactions by card.
Visa is introducing new scheme rules that require retailers to keep transaction abandonment rates below a 5 percent threshold, a senior company figure has said.

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