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Payment Services Directive 2 (PSD2)
PSD2: Tracking the Implementation at EU and Country Levels
7th Jan 2020 | Written by:
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...
2019 In Focus: Payments In Europe
20th Dec 2019 | Written by:
Contention over the finer points of new payments regulation continued to rage in Europe, with industry and regulators clashing over issues with new strong authentication requirements and the...
UK Regulator Unveils Open Finance Vision
18th Dec 2019 | Written by:
The UK’s financial regulator has released its vision of an open finance regime, in which the role of third-party providers would be retained from open banking and regulatory interventions be...
Fractured Regulations Hampering EU Fintechs, Report Claims
17th Dec 2019 | Written by:
A new report to the European Commission has laid out a number of steps to be taken to further level the playing field for fintechs in the EU.
SCA Shifting Fraud Attempts To New Areas, Report Finds
13th Dec 2019 | Written by:
Tighter EU controls on card security are already pushing fraud into other areas, with scammers targeting mobile authentication apps and “global wallet” payment instruments, new research has shown.
UK Regulator Admits 'Concern' Over Merchant Adoption Of SCA
12th Dec 2019 | Written by:
The Financial Conduct Authority has said payment service providers must act quickly to push merchants into compliance with EU rules on strong customer authentication (SCA) for online card payments.
EBA Issues Additional Clarity On Strong Authentication Reforms
9th Dec 2019 | Written by:
The European Banking Authority (EBA) has responded to industry confusion about how strong authentication reforms apply to in-flight offline payments and consecutive low-value online transactions.
Big Tech Posing Big Questions To Regulators, FSB Finds
9th Dec 2019 | Written by:
The body dedicated to monitoring the stability of the global financial system has urged regulators to monitor closely the impact of technology giants on financial services and cooperate on the...
Issuers Grappling With Technical Challenges Despite SCA Delay
3rd Dec 2019 | Written by:
European payments firms look set to spend much of next year’s strong authentication grace period devising ways of implementing one-time passwords via SMS, even as they acknowledge that such...
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...
EBA Chose 'Market Harmony' Over Stricter Strong Authentication Deadline
26th Nov 2019 | Written by:
The European Banking Authority (EBA) has revealed it would have set a stricter deadline for member states to enforce new payment security rules under the revised Payment Services Directive (PSD2),...
Open Banking Deadline Delay Not Necessary, Says EBA
25th Nov 2019 | Written by:
The European Banking Authority (EBA) has acknowledged there were “teething problems” around the introduction of third-party account access reforms, but said the fragmented picture across the...
Free Range Fintechs Pose Open Banking Supervision Risks
20th Nov 2019 | Written by:
Regulators must be wary of the risks posed by banks providing account access to unregulated fintechs as open banking models take shape, an influential group of central banks has warned.
FCA To Consult On Expanded 'Open Finance' Regime
19th Nov 2019 | Written by:
The UK’s Financial Conduct Authority (FCA) will launch consultations on an “open finance” framework later this year, as the regulator looks to extend open banking beyond only payment accounts.
First Fraud Patterns Emerge As UK's Open Banking Project Gains Ground
14th Nov 2019 | Written by:
As the UK’s first open banking offerings start to gain consumer traction, fraudsters are already beginning to move into the space — pressuring banks to find out new ways of stopping them.
Malta Sees Path To PSD2 For Crypto In New FATF Rules
11th Nov 2019 | Written by:
European efforts to implement new requirements around virtual currencies could see crypto-assets pushed into the revised Payment Services Directive (PSD2) by the back door, a regulator has suggested.
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