A senior executive at American Express has said “collateral damage” caused by EU-wide payment reforms has forced the card network to cut ties with dozens of bank partners.
The launch of a financial innovation partnership between lawmakers in the UK and US was touted by leaders on both sides as the first step towards more harmonised regulatory regimes for fintechs —...
The UK government is contemplating going beyond the scope of its existing open banking regime and extending third-party providers’ rights to include access to non-payment accounts.
On June 10, 2019, the Reserve Bank of India (RBI) published instructions (RBI/2018-19/206 DBR.LEG.BC.No.47/09.07.005/2018-19) introducing certain changes to the facilities associated with the Basic...
Fintechs and payment firms could be big winners if Singapore’s financial regulator moves ahead with creating a new virtual banking licence, experts have said.
On June 7, 2019, the European Payments Council (EPC) released a white paper on Version 1.0 of the non-near field communication (NFC) based mobile SEPA card proximity payments (MCPPs), which aims to...
EU authorities have responded to uncertainty about how payment providers should carry out transaction risk analysis under incoming strong authentication rules, as well as whether banks must confirm...
With legal cannabis companies still struggling to gain access to banking and payment services, a new lawsuit is alleging a California-based company disguised the true nature of cannabis delivery...
Industry group TheCityUK has warned of the potential for open banking to undermine the stability of firms’ operations and has suggested that further standardisation of new reporting requirements...
On June 4, 2019, the Reserve Bank of India (RBI) published a report on the payment systems and payment instruments present in India in comparison with other countries such as Australia, Brazil,...
On June 4, 2019, the Payments Council of India (PCI) announced that it supported the recommendations of the High-Level Committee on Deepening Digital Payments (CDDP) and encouraged their timely...
On June 4, 2019, the National Bank of Ukraine (NBU) published the results of a pilot project studying the possibility of issuing its own digital currency — "e-hryvnia".This project was initiated...
On June 4, 2019, UK Finance published a white paper titled “Perspectives - Operational resilience in financial services”, which was drafted in cooperation with Ernst & Young (EY), following...
The Dutch central bank and payments regulator has said authorities are already assessing the risk posed by technology giants from the United States and China, particularly as open banking beds in...
Lithuania is hoping improvements to safeguarding options for e-money and payment institutions will boost customer confidence in the sector and make them more competitive against banks.
On June 4, 2019, the Danish Financial Supervisory Authority (Finanstilsynet) published the opinion of the Payments Council on the new rules related to electronic payments and strong customer...

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