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...
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...
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...
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.
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.
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.
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.
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...
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...
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...
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),...
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...
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.
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.
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.
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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