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Chile: Proposal to Promote Competition in the Payments and Card Industry
19th Jan 2017 | Written by:
The Court of Defence of Free Competition of Chile (TDLC), which is a special and independent judicial body subject to the superintendence directive, has proposed a series of recommendations to the...
UK: CMA Says Mastercard/VocaLink Proposals Might Be Acceptable
18th Jan 2017 | Written by:
The UK's Competition and Markets Authority (CMA) has announced that a package of remedies received from Mastercard and VocaLink might be acceptable to solve the competition concerns with regard to...
New Zealand: Regulations on Prescribed Transactions Reports (PTRs)
16th Jan 2017 | Written by:
As part of proposed reforms to its AML/CTF regime, New Zealand has issued the Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Regulations 2016, which...
India: Strengthening the Framework for Digital Payments
16th Jan 2017 | Written by:
The Watal panel, a government-backed committee, submitted a report to the government of India on December 9, 2016 and recommended a medium-term strategy for accelerating growth of digital payments...
U.S. Supreme Court Hearing Slates ‘Vague’ Surcharge Law
12th Jan 2017 | Written by:
A New York statute banning the use of surcharging came under scrutiny in the Supreme Court this week, as justices considered whether its enforcement flouted the right to free speech.
India ‘Needs Laws And Infrastructure’ After Cash Strike
9th Jan 2017 | Written by:
Indian authorities are being warned that the boost to digital payments from the country’s anti-cash policy will not be sustainable without reforms to regulations and infrastructure.
Ukraine Limits Cash Payments by Individuals to Stimulate Cashless Payments
5th Jan 2017 | Written by:
The National Bank of Ukraine (NBU) has announced a decrease in the maximum limit of cash payments for individuals from UAH150,000 to UAH50,000 to help promote the use of cashless payments...
Payments Industry 2016 In Focus: Main Stories And Trends
23rd Dec 2016 | Written by:
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...
Greece Shelves E-Wallet Betting Restriction
21st Dec 2016 | Written by:
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...
Dutch Court Upholds Sanctions Against Processor
16th Dec 2016 | Written by:
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.
India: RBI Removes Additional Factor of Authentication for Contactless Payments
9th Dec 2016 | Written by:
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 ...
FATF Raps Switzerland On Prepaid, Cash Risks
7th Dec 2016 | Written by:
International watchdogs have criticised the Swiss authorities over the country’s approach to prepaid cards and cash in connection with financial crime.
UK: Key Implications of Digital Economy Bill 2016-17 for Payments Industry
22nd Nov 2016 | Written by:
Elizabeth Munoz Perez
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 Suspends Russian Payments Systems
24th Oct 2016 | Written by:
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.
Nigeria Suspends Foreign Card Payments As Currency Pressure Mounts
21st Oct 2016 | Written by:
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...
UK: PSR Survey on Access to Payment Systems for PSPs
14th Oct 2016 | Written by:
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...
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