A landmark year for the global payments sector, 2016 was characterised as much by legal reforms as by seismic shifts in the political landscape. Regulators in the UK launched unprecedented new...
A Greek government plan to outlaw anonymous payments via e-wallets for activities including betting and gambling has been abandoned, to the relief of e-money payment providers and former state...
A Dutch court has confirmed the legality of an enforcement action by the Gaming Authority against a payment service provider that processed transactions for an illegal gambling operator.
The Reserve Bank of India (RBI) has released a draft circular proposing to ease the authentication process for payments of up to Rs2,000 using contactless cards based on near field communication ...
International watchdogs have criticised the Swiss authorities over the country’s approach to prepaid cards and cash in connection with financial crime.
On July 5, 2016, the UK government introduced the Digital Economy Bill 2016-17 before parliament. This bill would provide notifications to payment services providers and ancillary services...
Ukraine’s central bank has ordered the financial sector to sever ties with Russian payment systems, as the country’s government boosts sanctions against its neighbour.
Banks in Nigeria restricted card payments in foreign currency this month as they sought to comply with the regulator’s directions on exchanges rates, in the latest disruption to the country’s...
The Payment Systems Regulator (PSR) is conducting a survey to collect evidence on how well access to payment systems (both direct and indirect) is working for payment service providers (PSPs).As a...
The Swiss Federal Council has published a report on unfair and unlawful financial flows from developing countries. The report provides an overview of measures to counter the cross-border movement...
SWIFT has published a paper discussing opportunities for banks to use the Business Identifier Code (BIC) and to centralise the internal routing of payments. The paper identifies opportunities to...
The Electronic Payments Association (NACHA), the administrator of the Automated Clearing House (ACH) network, has announced the launch of the first phase of same-day payments and settlements for...
The National Bank of Serbia (NBS) has clarified that Serbian legislation is aligned with EU regulations on the operations of foreign electronic money institutions through the Law on Payment...
The Central Bank of Nigeria (CBN) has published a warning about the exposure of banks on payment solutions due to operational failures. Dipo Fatokun, the director of the Banking and Payment System...
Expansion of electronic payments is a top priority for Greek authorities, experts have said, as lawmakers look to take advantage of the booming industry to clamp down on tax avoidance. 
The Australian Securities & Investments Commission (ASIC) has announced that Westpac Banking Corporation has refunded approximately A$20m to around 820,000 customers for not disclosing clearly...

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