In March 2014, the FCA, the prudential supervisor for UK-based payment institutions and e-money providers, outlined that it would not be strictly assessing the compliance with the SecuRePay Recommendations on the security of Internet Payments.
…
FCA will not strictly assess the SecuRePay recommendationsRead More »
FCA will not strictly assess the SecuRePay recommendations Read More »
On the 15th of April, European Parliament voted on the text for the Payment Accounts Directive. This concludes the legislative process in Brussels that started with a Directive proposal on the comparability of payment account fees, payment account switching and access to payment accounts.
The Directive lists a number of requirements with respect to using standardised terminology and facilitating account switching for all payment services providers. It also provides a regime, applicable to credit-institutions only, to ensure the proper provision of basic bank accounts in Member States.
…
EU Parliament finalises vote on Payment Accounts DirectiveRead More »
EU Parliament finalises vote on Payment Accounts Directive Read More »
Last year, HM Treasury announced that the Financial Conduct Authority would set up the UK Payment Systems Regulator (PSR). Following the announcement, the FCA published a “call for inputs” consultation in March this year and organised a stakeholder conference. The EMA contributed to the consultation to assist the Payment Systems Regulator develop its regulatory approach and identify early priorities.
…
EMA response to call for inputs for the UK Payment Systems Regulator (PSR)Read More »
EMA response to call for inputs for the UK Payment Systems Regulator (PSR) Read More »
Last week, the Members of European Parliament voted on the Commission proposals for a multilateral interchange fee (MIF) regulation and for the revision of the Payment Services Directive (PSD). The votes were cast at the end of the Parliamentary term and consolidate the position of the European Parliament. …
Pierre Petit, deputy director general (payments and market infrastructure) of the European Central Bank, has outlined the ECB’s views on European retail payments. He made his remarks at the EPCA Summit 2014, where he defined the role of the European Retail Payments Board (ERPB) and the follow-up on the SecurePay recommendations on access to payment accounts.
…
ECB outlines way forward for European retail paymentsRead More »
ECB outlines way forward for European retail payments Read More »
IPS 2014 International Payments Summit Read More »
Earlier this year, the Wolfsberg Group, a group of the largest international financial institutions, published its Guidance on Mobile and Internet Payment Services. The aim of the paper is to assist financial institutions in their risk assessments for the wide range of companies that offer mobile and internet payment services.
…
Wolfsberg Group Guidance on Mobile and Internet Payment ServicesRead More »
Wolfsberg Group Guidance on Mobile and Internet Payment Services Read More »
A week ago, the New America Foundation organised a meeting on the topic of virtual currencies and regulation in New York. During the meeting, a speech was given by Benjamin M. Lawsky, Superintendent of Financial Services, New York State Department of Financial Services (DFS). He outlined the current thinking on the envisaged bitlicense for virtual currencies in New York.
…
New York supervisor speech on bitlicense for virtual currenciesRead More »
New York supervisor speech on bitlicense for virtual currencies Read More »
Last week, the European central bank published the assessment guide for the security of Internet payments. The guide contains a list of the assessment questions that assists payment service providers with the implementation of the European requirements for the security of Internet payments. Payment Service Providers must demonstrate their compliance with these requirements by January 2015.
…
ECB publishes assessment guide for the security of Internet paymentsRead More »
ECB publishes assessment guide for the security of Internet payments Read More »
