PYMNTS

JANUARY 18, 2022

18) that it plans to regulate cryptocurrency advertising like other financial products and ensure that promotions are “fair, clear and not misleading,” according to a Bloomberg report. 17), Spain’s market regulator enhanced controls on crypto-related ads, saying they must include a warning that investors risk losing all their money.

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PYMNTS

JANUARY 26, 2021

Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin , a cryptocurrency supported by the Stellar blockchain, Platformer reported. MobileCoin complements the privacy-focused app in that it is “more resistant to surveillance,” according to a 2017 Wired report.

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PYMNTS

APRIL 24, 2019

Regulators want to have a greater stake in the way sharing platforms operate. Many of these regulators also now expect sharing and payment services to comply with shifting data regulations, like GDPR. Around the Payments and the Platform Economy.

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PYMNTS

DECEMBER 9, 2020

The passwords, user names and Social Security numbers that once helped us prove we are who we say we are now are vulnerable or have already been compromised. And new regulations are taking root or are on the horizon to help protect consumers, their data and how that data might be used.

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AUGUST 27, 2019

As reported by CoinTelegraph , Switzerland ’s Financial Market Supervisory Authority (FINMA) this week unveiled guidance on the regulatory requirements that govern payments done over blockchain. Securities Exchange and DLT. Blockchain will integrate BitPay’s payment architecture into its wallet service.

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PYMNTS

NOVEMBER 4, 2020

trillion trade finance gap that continues to plague the global market. Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology. As a highly regulated area of financial services, trade finance has struggled to enter the digital age. The RegTech Opportunity.

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PYMNTS

NOVEMBER 26, 2019

In recent years, the market has gone from one struggling with high financial illiteracy and limited card acceptance, to a bright spot in Europe for FinTech innovation. Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. But financial regulatory compliance can be a headache for any market.

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PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

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PYMNTS

JULY 15, 2020

The European Securities and Markets Authority (ESMA), the European Union’s (EU) financial watchdog, plans to examine how German regulators handled oversight of Wirecard AG , the collapsed payments company that is facing a series of criminal allegations.

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PYMNTS

DECEMBER 27, 2020

Financial regulators in China are moving to curb the influence of Jack Ma 's Ant Group by telling it to switch focus back to its mainstay payments business while fixing issues in personal lending, wealth management and more, The Wall Street Journal (WSJ) reports. The People's Bank of China criticized Ant on Sunday (Dec.

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PYMNTS

DECEMBER 21, 2020

Russia's federal anti-monopoly service (FAS) has accused Booking.com of reportedly violating antitrust laws in the country and abusing a dominant market position, according to Reuters Monday (Dec. And our government regulator wants to handcuff us,” and claimed the new rules would give more advantages to foreign competitors.

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PYMNTS

JUNE 29, 2020

The pandemic has drastically affected how consumers are shopping and paying for even routine purchases, and this in turn has altered how businesses are accepting their payments. The health crisis has brought about changes to this rule, however, and these may have long-term implications for payment standards and regulations.

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Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. These technologies are also used to better target marketing in retail and customize trade recommendations in wealth management. Credit Decisions. Cybersecurity.

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PYMNTS

MAY 22, 2019

As the need for speed increases worldwide, banks and other financial players are adapting payments to work smarter — not harder. With fraud ramping up, regulators around the globe are starting to take a closer look at everything from typical threats to the use of new technologies, like blockchain. Around the Smarter Payments World.

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PYMNTS

SEPTEMBER 2, 2020

Canada’s largest private non-bank payment processor, filed for an initial public offering (IPO) in Canada Tuesday (Sept. The Montreal-based payment technology company was valued at $2 billion at the close of 2019. If approved by the Canadian Securities Administrators (CSA), the country’s equivalent of the U.S. Nuvei Corp.

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PYMNTS

MAY 22, 2020

If you want to know how consumers feel about faster payments, talk to the millions of Americans who still have not received stimulus money as of mid- to late-May. Congressional Research Service projects that the pandemic could reduce global trade by anywhere from 13 percent to 32 percent,” according to the May Faster Payments Tracker.

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PYMNTS

JUNE 26, 2020

The Wirecard scandal surrounding the German payment processor missing $1.2 Dombrovskis told the Times he will ask the 27-nation bloc’s markets supervisor to evaluate BaFin’s handling of the one-time rising star German financial technology company. “We billion has spilled over the border to Belgium. million) bail. .

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PYMNTS

NOVEMBER 16, 2020

Fitzpatrick, global head of CitiFXTechnicals, Citi’s market insight product, compared bitcoin’s movements to the gold market, which remained within a $20-$35 price range for 50 years before breaking out in 1971, according to CoinDesk. Thomas Fitzpatrick’s report was leaked on Twitter Friday (Nov.

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PYMNTS

OCTOBER 7, 2020

In Europe , as has been seen elsewhere, banks and other financial institutions (FIs) must grapple with payments modernization but are burdened by legacy systems and infrastructure. The continued acceleration of digital and mobile payments affects both domestic and international payments.”. Expectations are changing, too.

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PYMNTS

JANUARY 6, 2020

The Central Bank of Jamaica (BOJ) has confirmed it will abide by the Principles for Financial Market Infrastructures (PFMIs). Regionally operated payment systems in Jamaica will consequently be regulated more closely. FMIs improperly regulated and governed could pose significant challenges to enhancing stability.

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PYMNTS

JUNE 24, 2020

Brazil’s Central Bank has suspended WhatsApp’s payment feature in the country, citing antitrust concerns, according to Bloomberg on Tuesday (June 23). Mastercard and Visa have been requested to stop payments and money transfer services through the app in Brazil as well, the bank said.

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PYMNTS

OCTOBER 29, 2018

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. These tools offer transactional and payment capabilities, providing not only a backbone for many current open banking offerings, but a new attack surface for cybercriminals.

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PYMNTS

APRIL 16, 2019

A German markets regulator has filed a complaint with prosecutors alleging that shares of Wirecard were manipulated by someone who potentially had prior knowledge of a forthcoming damaging article written by the Financial Times , according to Reuters. . 30 article was released, accusing the payments company of financial malfeasance.

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PYMNTS

DECEMBER 14, 2018

Banks and businesses handling personal information face a delicate balancing act as global systems embrace smarter payments. They must deliver services that customers and clients demand while securing their personal data. Data is crucial and — fortunately, for banks and businesses in the smarter payments space — plentiful.

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Payments Regulation Data Security 180

PYMNTS

JUNE 6, 2019

Around the world, banks and FinTech firms are addressing challenges associated with enabling fund disbursements in real time — and some markets are developing real-time networks faster than others. Though regulators and banks in the U.S. have expressed a vested interested in real-time payments, the U.S.

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PYMNTS

DECEMBER 17, 2020

Fraud protection specialist Kount and Philadelphia-based payments platform FreedomPay are teaming up to offer “an integrated, complete solution to enable international expansion with fraud-free payments and frictionless customer” experiences.

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PYMNTS

OCTOBER 1, 2020

The pandemic has exposed the pain points of all verticals when it comes to payments, and especially when it comes to transacting in person, in a tactile environment, with cash, and where banking conduits are limited. Nowhere is that more true than in the legal cannabis industry where regulations are still evolving.

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PYMNTS

JANUARY 22, 2019

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising.

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PYMNTS

DECEMBER 4, 2020

Dutch antitrust regulators have launched an investigation into freedom of choice regarding payment apps and is eyeing Apple Pay’s limitations, Bloomberg reported. Although the antitrust regulator didn’t mention Apple by name, it said in a press release on Friday (Dec. Apple has denied any outside access to the chip.

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Apple Payments Software Regulation 159

PYMNTS

JANUARY 22, 2021

Global payments firm MoneyGram is advancing its Visa debit card deposit service across Europe in a partnership with Checkout.com and continued collaboration with Visa’s real-time push payments platform Visa Direct. Consumer demand for real-time payments direct to bank accounts and mobile wallets continues to surge.”.

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PYMNTS

NOVEMBER 3, 2020

The Shanghai Stock Exchange is delaying Ant Group’s record initial public offering (IPO) following Jack Ma’s meeting with Chinese regulators, according to a Wall Street Journal (WSJ) report on Tuesday (Nov. Ant was founded in 2004 as Alibaba's payments processor. That meeting now disqualifies Ant from listing on Thursday (Nov.

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Bank Innovation

AUGUST 31, 2017

Corporate payment provider WEX has secured an e-payment license from the Financial Conduct Authority, an E.U. The license makes its possible for the company to offer payments within Europe, as well as making it a principal member of Mastercard for that market.

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Payments Regulation Security Marketing 186

PYMNTS

MAY 20, 2020

Accomplishing this task poses a unique set of challenges, however, particularly when it comes to real-time payments. The 27 EU member states have their own financial systems, and many have also implemented their own domestic real-time payments rails. The ECB sees TIPS as more than just another real-time payments solution, however.

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PYMNTS

JULY 24, 2020

These marketplaces need to have strong security approaches in place, however, to ensure they do not accidentally onboard any fraudulent sellers or let other scams be perpetrated across their platforms. Around The eCommerce Payments W orld. How Global Freelancing Marketplaces Can Maintai n Security And Regulatory Compliance.

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Compliance Report Payments Security 152

PYMNTS

AUGUST 1, 2019

Investigators from the Federal Reserve carried out an inspection of Amazon ’s cloud in April as Washington looks into ways to regulate companies that provide the service. People familiar with the matter said the regulators were most interested in looking at Amazon’s resiliency and backup systems.

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Perficient

MARCH 2, 2021

Parties to a netting contract agree that they will pay or receive the net, rather than the gross, payment due under the netting contract. The final rule amends Regulation EE (Financial Institution Netting) to apply FDICIA netting provisions to certain new entities including swap dealers. What is a Financial Institution?

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PYMNTS

JULY 2, 2020

The president of the Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator, said the $2.1 But EY, Hufeld and regulators are facing scrutiny over how the once high-flying company managed to escape the industry’s standard accounting rules. It is plain vanilla, old-fashioned criminal behaviour,” Felix Hufeld said.

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