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

DECEMBER 20, 2020

Alibaba billionaire Jack Ma told Chinese regulators in November that he would give portions of Ant Group , the FinTech he founded, to the country's government in what so far has appeared to be an unsuccessful effort to make peace with authorities in the country, The Wall Street Journal (WSJ) reported.

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Groups Report Regulation Meeting 278

PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. With a nod specifically to Libra, the report noted that the digital offering could be embraced by Facebook users en masse. “The In a paper that debuted Tuesday (Nov.

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PYMNTS

NOVEMBER 16, 2020

A Citibank senior analyst predicted that bitcoin could reach $318,000 by December 2021 in a report written for Citibank’s institutional clients, according to CoinDesk. Thomas Fitzpatrick’s report was leaked on Twitter Friday (Nov. All we know is that price is likely to continue going up.”. Meanwhile, Binance on Monday (Nov.

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PYMNTS

DECEMBER 7, 2020

UK Regulations to Create New Digital Markets Unit. antitrust regulators are creating a Digital Markets Unit that will be given the duty to enforce rules applicable to Big Tech firms. That new division will fall under the country’s Competition and Markets Authority (CMA). Apple Faces $12M Fine Over iPhone Marketing.

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PYMNTS

JULY 31, 2020

China’s State Council’s Anti-Monopoly Commission is considering investigating Alipay and WeChat Pay , two of the county’s biggest online payment and money transfer platforms, Reuters reported. Reuters reported. The mobile banking market reported 56.2

Regulation 181

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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

OCTOBER 12, 2020

No matter how innovative they are, companies still need to get paid. And not many companies this year have combined business model creativity with payments innovation more than Beautycounter. While all the innovations and the business awards are nice to have, Renfrew is most proud of her work as a beauty industry activist.

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PYMNTS

FEBRUARY 16, 2017

Singapore is changing its rules on venture capital in an effort to support economic growth, reports said this week. The agency did note, however, that it will deal with “errant VC managers” on a case-by-case basis and continue to retain its powers to regulate venture capitalists.

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PYMNTS

FEBRUARY 6, 2020

Buy now, pay later (BNPL) company Afterpay has pushed back against the Reserve Bank of Australia’s potential regulation of its fees. Afterpay has a market capitalization of around $10 billion. Afterpay CEO Anthony Eisen said the company should be seen as a sales and marketing company, more like Amazon or Google.

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PYMNTS

DECEMBER 11, 2019

The United Kingdom’s regulator on competition and antitrust concerns has signaled that eCommerce giant Amazon’s stake in food delivery service Deliveroo may need additional examination. Reports came from CNBC Wednesday (Dec. Reports came from CNBC Wednesday (Dec. As reported, Amazon, which is based in the U.S.,

Regulation 131

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PYMNTS

DECEMBER 10, 2018

The statement gave a nod to “private sector innovation” that can use tech to detect and report financial crimes such as money laundering and terrorist financing. The threshold for suspicious activity reports may get a boost to $10,000 from $5,000.

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PYMNTS

MARCH 2, 2020

A trillion-dollar market cap later, it’s hard to argue Amazon’s effectiveness, quote attribution notwithstanding. It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation.

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PYMNTS

FEBRUARY 3, 2020

The European Union is examining the creation of a single data market that would reportedly challenge tech firms such as Google and Facebook, as Reuters reported. This is a major weakness for data-driven businesses to emerge, grow and innovate today, including in Europe, but huge opportunities lie ahead.”.

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PYMNTS

JANUARY 28, 2021

It will likely alter global markets and regulations as the financial ecosystem becomes more digitized. PSCU reported that the hike in mobile wallet credit purchases among its CUs’ members was nearly 48 percent by August 2020, while mobile wallet debit purchases climbed 22 percent during the same period.

Innovation 187

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PYMNTS

DECEMBER 27, 2019

Competition and Markets Authority (CMA) over potential anti-competition issues, according to a report by Bloomberg. The move signals that Big Tech companies and their acquisitions are going to be under more and more scrutiny as regulators from countries all over the world continue to open investigations. A homegrown U.K.

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PYMNTS

SEPTEMBER 16, 2019

17) will discuss the fraud problem stemming from influencer marketing. The event strives to unite the worlds of communications and marketing to stimulate conversations about digital marketing and influencer campaigns, PR Daily reported on Monday (Sept. He said, “$1.3 billion is a conservative estimate.

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PYMNTS

NOVEMBER 9, 2018

percent of retailers have said they innovate to improve customer loyalty. That, in fact, is one of the main findings in the new Retail Innovation Readiness Index from PYMNTS, powered by FinTech firm AEVI. Things have changed, though, he said — one reason why that innovation finding carries such weight. “I Innovation Divide.

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PYMNTS

JUNE 23, 2019

BIS said that the social media firm’s recent announcement that it aims to roll out its Libra digital currency and grow into payments has focused the minds of central bankers as well as regulators, Reuters reported. As it stands, the BIS published a big tech in finance chapter in its annual report on Sunday.

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PYMNTS

OCTOBER 26, 2020

Ant, which is backed by Alibaba, plans to list on both the Hong Kong market and on Shanghai's STAR Market in the next few weeks. Ma has criticized the financial and regulatory system in the past, saying they “stifle innovation,” according to Reuters. The reason for the raise was a boost in demand, according to unnamed sources.

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PYMNTS

JULY 17, 2018

The credit union (CU) market has long argued that rules intended for larger, more traditional banks have unjustly been applied to their industry, stifling their growth and pace of innovation. However, recent changes in regulations could open new doors for the credit union market to more efficiently serve its members.

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PYMNTS

AUGUST 24, 2020

Following the adoption of new rules intended to make it easier for companies to hold initial public offerings (IPOs), some Chinese technology companies newly listed on the ChiNext exchange board of the Shenzhen Stock Exchange soared on their first day of trading, CNN Business reported. technology sector. "We

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PYMNTS

DECEMBER 18, 2020

The new regulations, if adopted after a comment period, would require banks and some other institutions to obtain and report the identities of parties engaging in certain digital transactions, including payments involving what are called "unhosted wallets" – effectively secret bank accounts that hold cryptocurrency.

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Bitcoin US Regulation cryptocurrency 354

PYMNTS

FEBRUARY 5, 2018

Last month, Canada’s Competition Bureau released its final study on tech-led innovation in FinTech, offering regulators some thoughts on competition in the payments sphere, along with suggestions on where the competitive landscape could be improved. Canada might be viewed as a different market when it comes to financial services.

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PYMNTS

MARCH 9, 2018

While the European Banking Authority has created a “roadmap” on how to regulate emerging FinTech services, the body is not keen on creating a unified approach to cryptocurrency regulation — at least not yet, Reuters reported.

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PYMNTS

SEPTEMBER 28, 2020

Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Regulators in countries like Egypt have only recently rolled out their data protection rules.

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PYMNTS

MARCH 10, 2020

In today’s top payment news, retail remains a bright spot in the markets, Ant Financial has rolled out a strategy for digital evolution in China, and the Consumer Financial Protection Bureau (CFPB) filed a suit against a Cincinnati-based bank. The stock market rout on Monday (March 9) left pretty much no one unaffected. and EU.

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PYMNTS

JULY 31, 2017

Is the credit union market ready for its close-up? It’s a market that is showing clear signs of growth. In fact, the federally backed National Credit Union Administration (NCUA) reported credit union membership grew by 4.3 The Shifting Credit Union Market.

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Report Innovation Regulation National 114

PYMNTS

DECEMBER 31, 2020

Fast-forward to the present, and Afterpay now counts more than 11 million active customers at 63,000 retailers – and most recently reported doing $2.1 One is regulatory trends, where regulators are looking to increase competition in this field and drive innovation. "One The other is technological innovation.

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Innovation Payments Trends Regulation 289

PYMNTS

SEPTEMBER 28, 2018

In an effort to get more clarity on the regulation of digital currencies, U.S. The lawmakers are looking for the official to lay out how the agency plans to regulate digital currency in clearer terms, CNBC reported. representatives wrote to U.S. Securities and Exchange Commission (SEC) chairman Jay Clayton.

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PYMNTS

AUGUST 14, 2020

China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid. Regulators and law enforcement will try their best to recoup the money, he told China Central Television Friday (Aug. 14), per the report.

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PYMNTS

MARCH 26, 2018

and Australia are strengthening an existing collaborative agreement to promote FinTech innovation, according to reports in Mondo Visione. The regulators will also continue to facilitate communication to support one another’s Innovation Hubs, reports noted.

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PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. dollar as their currency of choice on the black market, which means American banks must alter their anti-fraud and AML strategies — especially as regulatory fragmentation divides the U.S.

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PYMNTS

NOVEMBER 13, 2018

Reports in Reuters on Sunday (November 11) said the U.K. Parliament will commence an inquiry into the nation’s corporate auditing market, which is currently dominated by the Big Four accounting firms Deloitte, PwC, EY and KPMG, adding new pressure on an industry already being probed by other policymakers.

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Marketing Industry Regulation National 123

PYMNTS

OCTOBER 6, 2016

SWIFT’s year has been filled with controversy, the apex of which occurred when reports surfaced that cyberthieves infiltrated Bangladesh Bank via the SWIFT messaging system in February, resulting in $81 million stolen from the bank’s account at the New York Federal Reserve. ” The FinTech boom is loud and growing louder.

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PYMNTS

MARCH 18, 2019

A new study by the Organisation for Economic Co-operation and Development (OECD) shows that trading in pirated and counterfeit goods has risen significantly, according to a report in the Financial Times. The increase has the effect of stifling a global economy driven by innovation and new ideas. That’s an increase of 3.3

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Report Innovation Study Security 124

PYMNTS

NOVEMBER 24, 2016

Developing markets are quickly increasing their rate at which paycards are accepted, according to the latest research by RBR. The company revealed its “Global Payment Cards Data and Forecasts to 2021” report Wednesday (Nov. 23) with positive news for developing markets. China spearheaded this growth, adding 4.7

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