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EMVCo Standards Stifled Competition To Visa And Mastercard, Study Claims
12th Dec 2019 | Written by:
A consortium of U.S. retail associations and debit networks have accused Visa and Mastercard of using EMVCo standards as a vehicle for restricting competition and protecting revenue despite...
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.
Visa Not Expecting Drastic Interchange Reforms, Despite Competition Claims
5th Dec 2019 | Written by:
Senior figures at Visa remain positive the European Commission will avoid a drastic overhaul of its interchange fee regime, despite claims that rules put in place in 2015 have failed to boost...
Australia Floats Ban On Buy Now, Pay Later No-Surcharge Rule
2nd Dec 2019 | Written by:
Australia’s central bank is considering a ban on buy now, pay later (BNPL) providers preventing retailers from surcharging customers, as it sketches the outline of a major review of the country’s...
Card Schemes Face Fresh Trans-Pacific Regulatory Scrutiny
18th Nov 2019 | Written by:
Visa and Mastercard are under investigation by federal U.S. antitrust regulators for potential violations of laws giving retailers choice over debit network routing.
FCA 'Remains Supportive' Of 18-Month Strong Authentication Delay
4th Nov 2019 | Written by:
The UK’s Financial Conduct Authority (FCA) is standing by its decision to allow issuers and acquirers 18 months to meet new strong authentication rules, despite European regulators opting for a...
France Eyes Shorter SCA Transition After European Pressure
30th Oct 2019 | Written by:
France’s central bank could drop its plans for an extended delay to strong authentication reforms, as indications emerge it is likely to fall in line with an EU-wide transition period of 15 months.
Regulators Must Crack Down On 'Unacceptable' Payment Outages, Demand MPs
28th Oct 2019 | Written by:
An influential UK parliamentary committee has sounded the alarm over a lack of regulatory consequences for financial firms after “unacceptable” IT outages, as it called for managers of payment...
Norway Card Fraud Figures Higher Than Thought After Reporting Error
28th Oct 2019 | Written by:
The organisation that manages Norway’s financial infrastructure has admitted it miscalculated last year’s figures on payment card fraud, and that the true numbers are far higher than initially...
U.S. Casinos Turning Away From Cash
23rd Oct 2019 | Written by:
in Las Vegas
Casinos, one of the last redoubts of cash-centric retail in the United States, are turning the corner to new payment methods as compliance pressure and customer expectation builds.
Italian Government Takes Aim At Tax Evasion With Digital Payment Reforms
17th Oct 2019 | Written by:
Italy’s new-look government has tabled a series of measures designed to encourage uptake of non-cash payments, pressure retailers into accepting cards and make it harder for individuals to evade tax.
EBA Settles On 15-Month Strong Authentication Delay
16th Oct 2019 | Written by:
The European Banking Authority (EBA) has agreed to let national regulators delay enforcement of strong authentication rules until December 31 next year, setting a strict 15-month migration plan for...
Canada: Payments Canada Consults on Policy Proposals for Its New High-Value Payments Systems
10th Oct 2019 | Written by:
On October 10, 2019, Payments Canada launched a consultation on a proposed policy framework for its new real-time gross settlement, high-value payments system, Lynx, which is going to replace the...
UK: Government Publishes No-Deal Readiness Report
8th Oct 2019 | Written by:
On October 8, 2019, the government published a no-deal readiness report. As the country prepares to leave the European Union on October 31, 2019, the document describes changes if the UK leaves...
Travel Retailers Report 'Transparency Issues' Over Card Costs
7th Oct 2019 | Written by:
A major retail association representing the travel sector says its members have reported “serious transparency issues” around the fees charged by acquirers when accepting card payments.
UK: PSR Consults on Proposed Approach to Merchant Survey
1st Oct 2019 | Written by:
On May 22, 2019, the Payment Systems Regulator (PSR) released a consultation paper setting out its proposals on its approach to the merchant survey, as part of its initiative to conduct a market...
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