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.
On April 24, 2019, the European Banking Authority (EBA) published an opinion on the nature of passport notifications of payment institutions and electronic money institutions using agents and...
The EU’s top payments regulator has stepped into a row between member states over supervision of firms passporting across national borders, taking a relatively tough stance on the controversial...
On April 17, 2019, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) announced that, as of September 14, 2019, Article 55(1) of the Payment...
An influential industry group has said EU-wide controls on interchange fees have failed to inject competition into the payments sector, urging the European Commission to narrow its focus to card...
A UK court has blocked a potential judicial review against the Financial Conduct Authority (FCA), dismissing claims it failed in its duty to regulate online marketplaces under payment services laws.
Regulators have confirmed that EU financial firms operating in different member states must handle two sets of fraud rate data — at country level and company level — despite concerns from banking...
Nearly a quarter of online card payments subject to 3D Secure checks are abandoned during checkout, researchers have claimed, prompting concerns about the impact of incoming strong authentication...
A group of European banks have signed a joint letter to authorities expressing concerns about new fraud reporting requirements, citing the risk of divergence between member states and planned...
The head of the French central bank has called for a new European-centric strategy for regulating payment services in the digital age, not least to ward off the threat of technology giants from...

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