Archive | EMA publications

The EMA frequently responds to government and European consultations on regulation that impacts the e-money and payment services industry. Sometimes, we also express our views on issues that are raised in the public domain where we feel it is important to provide an industry input.

Our publications reflect the views of the EMA as whole; individual members’ views may vary from time to time. The public consultation responses are listed below. For further information on these positions, please contact us.

September 2, 2013
July 27, 2013
July 26, 2013

EU Commission proposals for revised Payment Services Directive and MIF-regulation

On 24 July 2013, the Commission adopted a legislative package which proposes a revised Payments Services Directive (PSD2) and a Regulation on Multilateral Interchange Fees (MIFs). The changes in the Payment Services Directive include a.o. changes in scope, the addition of a new type of institution (Third Party Payment Services Processor) and further rules as to transaction authentication. The Regulation on MIFs seeks to cap the interchange fees for card payments to 0,3 and 0,2 % for international credit- and debit-transactions. Over time these limits would also apply to domestic transactions. Continue Reading →

July 22, 2013

EMA response: draft Dutch Betting and Gaming Act

On the 22th of May, the Dutch Ministry of Justice started a consultation on changes in the Betting and Gaming Act (Betting and Gaming Act), the Betting and Gaming Tax Act (KSB) and some other acts concerning the regulation of remote games of chance.

The Electronic Money Association responded to this consultation and stressed that the proposed rules should not distinguish between payments accounts of credit institutions, payment institutions or e-money issuers. Continue Reading →

June 28, 2013

FATF guidance for a risk-based approach for innovative payments

The Financial Action Task Force on Fraud has just published their guidance for a Risk-Based Approach to Prepaid Cards, Mobile Payments and Internet-Based Payment Services. It describes the nature of these innovative payment systems and recognizes that they may play a significant role in the area of financial inclusion. The guidance on the risk-based approach for AML/CFT-regulation is non-binding and does not override the purview of national authorities. Continue Reading →

May 22, 2013
May 9, 2013
February 8, 2013
February 5, 2013

EC Proposals for 4th Anti-Money Laundering Directive and Regulation on Funds Transfer Information

The European Commission has today adopted two proposals in the area of Anti-Money Laundering:

  1. A directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing
  2. A regulation on information accompanying transfers of funds.

The two proposals will have a considerable impact for the industry, given the changes in scope, definitions and the proposed elimination of the Simplified Due Diligence regime. Continue Reading →

February 1, 2013