PYMNTS

JANUARY 25, 2021

Last week marked the third anniversary of PSD2 , the regulation that launched open banking in the U.K. Building on top of the open banking infrastructure, PayDirect is a new payment method that enables companies to take online payments in a highly secure way, and also pay out to customers through the same rails. and Europe.

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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

MAY 8, 2020

Online gambling or gaming is one possible outlet, and the sector may even make it through the pandemic with less financial damage than other industries. Online Gambling Changes . The pandemic is sweeping through an already critical year for online betting. Such sites are expecting major growth in the U.S.,

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PYMNTS

OCTOBER 12, 2020

Facebook's proposed global digital currency Libra is expected to get pushback from G7 leaders who are anticipated to publicly oppose the project due to a lack of regulations, according to a Reuters report on Monday (Oct. The draft will be presented on Tuesday (Oct. 13) during a meeting of finance ministers and central bankers from the U.S.,

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PYMNTS

MAY 31, 2020

Uber has been approved by the National Economic Prosecutor’s Office (FNE), Chile’s antitrust regulator, to acquire the Chilean grocery shopping app Cornershop, according to an FNE statement. Although Chile has now granted permission, Mexico regulators still have not.

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PYMNTS

MAY 9, 2019

The banking regulator in Hong Kong has issued an additional four online-only banking licenses to Ping An, Alibaba, mobile phone maker Xiaomi and a joint venture (JV) consisting of Tencent, ICBC and Hillhouse Capital. Reuters is reporting that this totals eight total licenses handed out by the government.

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PYMNTS

MAY 6, 2020

The COVID-19 pandemic has had a noted effect on how several industries can operate and interact with their customers during this time including retail stores, movie theaters and casinos. There is one sticking point online casinos need to fix, however, and that is the speed at which consumers receive their winnings.

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PYMNTS

AUGUST 20, 2018

Regulators didn’t destroy A&P in the end. There was one wholesaler for every 43 mom-and-pop operations. A&P’s stated mission was to create and then use its supply chain efficiencies to be the cheapest grocery store in every local market in which it operated. It operated 70 factories and 100 warehouses.

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PYMNTS

DECEMBER 28, 2020

Large Chinese companies, including Alibaba and rivals Tencent , food delivery giant Meituan and retailer JD.com , have lost almost $200 billion in Hong Kong since regulators announced last week that they were investigating Alibaba's reported monopolistic practices, according to Bloomberg. Regulators on Sunday (Dec.

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PYMNTS

FEBRUARY 17, 2020

increased regulation over content delivered online through platforms may be on the horizon. This past week, Britain’s federal government said its media regulator, known as Ofcom, would be given new oversight to monitor and regulate material posted on the web by companies such as Facebook, Google and Twitter. In the U.K.,

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PYMNTS

SEPTEMBER 14, 2018

How do consumers really want to search online ? That’s a question with obvious relevance to payment and commerce operators. Further regulations are looming. Social media platforms and other digital operators are scrambling to stay a step ahead of the wave. New laws favoring consumers have come into effect.

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PYMNTS

JUNE 25, 2020

In today’s top news, Wirecard files for insolvency, and New York proposes easing regulations for cryptocurrency licenses. New York To Ease Cryptocurrency Regulations. plans to offer a Samsung Pay Card that will operate like a digital wall for customers. Wirecard Files For Insolvency, Seeks Court Protection.

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New York cryptocurrency Regulation Samsung 248

PYMNTS

FEBRUARY 25, 2019

As regulators overseeing non-banks, our goals are clear: Ensure the safety and soundness of the financial system, protect consumers and streamline the multistate experience,” said Mark Quandahl, chairman of the CSBS Emerging Payments & Innovation Task Force, in a statement.

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PYMNTS

JANUARY 29, 2019

For payments and commerce , there’s another uncertainty that hangs in the air: Will legal online sports betting keep going forward, despite a recent decision by the U.S. In the meantime, what should businesses that want to operate in that new world do besides sit around and wait? More about that in just a bit, though. Proactive Steps.

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PYMNTS

DECEMBER 30, 2019

Small businesses continue to flock to online platforms to find much-needed financing, with banks still failing to fill the demand for small to medium-sized business (SMB) loans despite economic growth in the U.S. But the majority of online SMB lenders do not disclose publicly their fees and interest rates, reports warned.

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PYMNTS

JUNE 20, 2019

Powell also said that regulators have jurisdiction to enforce anti-money laundering regulations on business that operate within the digital sphere. “We Facebook said the coin is meant to facilitate online payments for the unbanked population of the world. It’s something we’re looking at,” he said.

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PYMNTS

MAY 7, 2020

Many are instead flocking to online gambling sites after the closure of all 989 commercial and tribal casino properties in the U.S. However, it can take a long time for online players to collect funds, unlike at casinos, where consumers can instantly collect winnings in cash. The ways gambling winnings can be paid out in the U.S.

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PYMNTS

APRIL 11, 2019

As online food delivery services proliferate amid the battle for customer loyalty, and as grocery and related stores strive to gain more digital footholds, the online sale of alcohol is growing and becoming a bigger part of all those plans. Online food delivery is in the midst of what might one day be called a golden age.

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PYMNTS

JULY 6, 2020

According to analysts with Bank of America, even as the market begins to recover and people go out more often, the tendency to buy more online might stick, Bloomberg reported. Some of them had never used eCommerce at all, Bloomberg reported. The site is primarily focused on consumer-packaged goods and counts Brazil as its largest market.

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PYMNTS

MAY 6, 2020

Cineworld operates 787 theaters in 10 countries. Richards said safety would be assured for patrons because they are operating at 20 percent of capacity, the number of people coming through could be controlled by staggering screening times and requiring online ticketing before arrival.

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PYMNTS

JULY 12, 2018

New York’s Department of Financial Services is recommending that online lenders are subjected to the same scrutiny and regulations that traditional banks face. Cuomo on June 1, 2017, required DFS to study online lending in New York State and submit a report of its findings. A bill signed by Governor Andrew M.

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PYMNTS

DECEMBER 12, 2018

Right now, though, we are talking about fraud, and how criminals use online data sites to steal from consumers in search of romance or, at least, some temporary companionship. Global fraud related to online dating scams costs “several billion dollars a year,” Hochrieser said, “and it’s growing every year.”. Online Dating Scope.

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PYMNTS

MARCH 21, 2019

It might not have been inevitable, perhaps, but it was certainly expected: a regulatory backlash concerning the booming trade (both online and in brick-and-mortar stores) of eCigarettes , with their different flavors attractive to younger consumers — including underaged ones. While the FDA decision shows that the U.S., Authentication Process.

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PYMNTS

OCTOBER 2, 2019

It’s not exactly high time for legal online gambling yet – that comes in early 2020, with the Super Bowl and then the NCAA college basketball tournament – but the betting season is certainly heating up on more ways than one. And that new fuel comes as the legal online and mobile gambling industry in the U.S. elections.”.

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PYMNTS

MARCH 27, 2019

As online gamblers all but feast on the odds and brackets of the ongoing NCAA Division I Men’s Basketball Tournament in the U.S. – What the regulator (or lawmaker, or court) giveth, the regulator (or lawmaker, or court) can taketh away. Regulations are another huge factor. the first March Madness since the U.S.

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PYMNTS

NOVEMBER 27, 2017

operator of China’s leading online lender Fenqile, was slated to meet with advisers over the weekend to decide if it will go ahead with a proposed initial public offering (IPO) in the U.S. Investors have been questioning the regulatory climate for online lenders in China during premarketing meetings for the IPO.

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PYMNTS

FEBRUARY 4, 2020

Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”. The decision opened the floodgates to legalized sports betting – both in-person and online – in the U.S. All in, counting online and in-person wagers, Super Bowl betting was worth roughly $6.8

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Bank Innovation

MARCH 30, 2018

bank said it will be switching off access to 24 million customers as the bank restructures itself as required by national regulation. Barclays customers across Europe will not be able to use their mobile banking app this weekend. The major U.K. These changes were established by the Bank of England in 2011, and is referred […].

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PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report.

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CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

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PYMNTS

DECEMBER 16, 2020

New draft rules tied to the Digital Services Act and Digital Markets Act (collected under the Digital Services Act Package ) would broaden European Union regulators’ power to rein in Big Tech. Yes, draft regulations can be changed. tech giants contend that the potential regulations would be onerous. tech giants.

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PYMNTS

MARCH 19, 2019

March Madness has a new flavor this year: legal online betting. billion – on their favored teams via sportbooks, either in person or online, with other bookies or just with friends. billion – on their favored teams via sportbooks, either in person or online, with other bookies or just with friends. And about 4.1

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Online New Jersey Las Vegas Risk Management 125

PYMNTS

OCTOBER 31, 2019

Shanghai regulators are ordering more than 40 peer-to-peer (P2P) lenders to get ready to close shop, the Financial Times (FT) reported on Thursday (Oct. China’s P2P sector emerged during a wave of deregulation and has operated with little oversight. Scandals also turned a negative spotlight on the P2P sector.

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PYMNTS

JUNE 29, 2020

The rise of online and contactless transactions in the European Union, for example, has meant that many merchants are making the bulk of their sales away from brick-and-mortar stores. 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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How To Payments Management social media 239

PYMNTS

AUGUST 27, 2019

Under the guidelines, which cover exchanges, trading platforms and wallet providers, the regulators state businesses are not exempt from standards that tie in anti-money laundering (AML) rules, among other mandates. CoinDesk reported that the exchange has targeted the DLT platform to be in place and operational by spring of 2021.

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blockchain Regulation Payments Bitcoin 145

PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. Considering t he global nature of COVID-19, regulators outside of the U.S. Security .

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Abrigo

SEPTEMBER 21, 2023

How to monitor internet bank fraud more effectively When someone inquires about the capability of a system to detect internet bank fraud, encompassing online banking and mobile banking fraud, the immediate question that arises is, “What is meant by internet banking fraud?” Is the interest in detecting money movement, or merely account access?

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