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Reserve Bank Of India Provides Guidelines For Payment Systems

PYMNTS

The Reserve Bank of India (RBI) has set forth guidelines for “on tap” authorization for various payment systems, including the Bharat Bill Payment Operating Unit (BBPOU), Trade Receivables Discounting System (TReDS) and White Label ATMs (WLAs). For TReDS, there would have to be a minimum of Rs 25 crore in equity capital.

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Lessons from the Capital One Data Breach

Gonzobanker

When most financial executives read the headline “Capital One Data Breach,” they had two thoughts: How is this going to impact the financial sector? In this case, information about Capital One ’s customers. Aren’t both AWS and Capital One both responsible? What does the Capital One breach mean?

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Designer Brands Reports 44.7 Pct Drop In Net Sales Amid Pandemic

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The company operates almost 1,000 retail stores under names like DSW Designer Shoe Warehouse and The Shoe Company. The retailer said it has put into place many procedures to safeguard the wellness and safety of shoppers as well as staff members as retail locations open again. In separate news, retailer Express Inc.

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Express Inc. Net Sales Drop 53 Pct Amid Pandemic

PYMNTS

reported “continued momentum” with its The EXPRESSway Forward long-term strategy, as a phased reopening of retail locations started on May 1. The retailer, however, reported that consolidated net sales dropped 53 percent to $210.3 Additionally, Express said it decreased its forecasted yearly capital expenditures by roughly $25 million.

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DOJ Price Probe Eyes Amazon Sellers

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The report noted it was not known if the investigation is linked to sellers capitalizing on the coronavirus ‘ proliferation and price-gouging on the company’s platform. The eCommerce retailer said it has provided associates sent home from the facility with complete pay as it cleans it.

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VC Firm Brings Partnership Model To Amazon Sellers

PYMNTS

It’s a world where the parent company has such as tight rein that one step out of the guidelines and regulations can merit a devastating suspension. In short, it’s a world where access to capital and legal advice is welcome. Of course, the Nikes and Under Armours have legal teams and vast amounts of capital.

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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Those interviewed by the GAO also said that guidelines would be of help in making sure lending is done efficiently. According to the banks that have linked with FinTech firms, such guidelines would help relationships between the parties. Such alternative data, said the GAO, could pose risk to such lending decisions.

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