The Bank of England (Bank), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA), and the Payment Systems Regulator (PSR) (the Authorities) have a Memorandum of Understanding (MoU), which sets out the high-level framework that we use to cooperate with one another in relation… Read More
With the Payment Systems Regulator‘s (PSR) new Authorized Push Payments (APP) rules coming into effect, Riccardo Tordera, director of policy and government relations at The Payments Association said that they will be monitoring the overall / anticipated impact of the latest APP fraud rules closely… Read More
USDC is now available in Brazil and Mexico through national payment systems, with local currency. Fiat transfers through real-time payment systems accelerate “access to digital dollars.”: Since Circleās founding more than a decade ago, itās been their mission “to harness the power of blockchain networks… Read More
Sling Money, an app designed to make the global transfer of money instant, easy and low-cost, today announced a $15 million Series A round led by Union Square Ventures, Ribbit Capital, and Slow Ventures. Sling Money previously raised a $5 million seed round “led by… Read More
PBOC and HKMA has reportedly signed an MOU that is focused on cross-boundary linkage of payment systems between the Mainland and Hong Kong. Mr Lu Lei, Deputy Governor of the People’s Bank of China (PBOC), and Mr Howard Lee, Deputy Chief Executive of the Hong… Read More
Executives from two Fintech companies believe this weekās system outages could hurt SMEs the most and highlight the need for additional resiliency in an increasingly connected world. The past seven days began with an outage at CHAPS. While it was temporary, it significantly affected European… Read More
The Central Bank of the UAE (CBUAE) and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems. This agreement was formalized during a visit to the UAE by Indonesian President Joko Widodo. The MoU, signed by Khaled… Read More
The co-founder of a cloud platform for global card processing insists that recent payment systems outages are the price the world pays for widely used yet outdated infrastructure. Robert Kraal is the CBDO of Silverflow, which offers a cloud-native solution with a single API for… Read More
Last week, Chris Hemsley announced his exit as Managing Director of the Payment Systems Regulator (PSR). Replacing Hemsley is Interim Managing Director David Geale, who takes over today (June 10th). The PSR said that Hemsley was leaving the agency to become a director with Fingleton,… Read More
The UK’s Payment Systems Regulator (PSR) has announced recently that David Geale has been appointed Interim Managing Director of the PSR with effect from 10 June. The interim appointment will be for a period of nine months. David joins the PSR from the FCA where… Read More
Today, the UK Payment Systems Regulator (PSR) has decided that cards do not face effective competition. The PSR states that it has “provisionally” determined there is not enough competition in the supply of scheme and processing services to acquirers. Additionally, pricing is complicated, having risen… Read More
Rene Siegl, Founder, Executive Chairman at IXOPAY, says that he’s pleased to share that IXOPAY and TokenEx are merging, beginning a new era in the optimization of global payment systems. According to Siegl, this merger combines IXOPAY’s payment orchestration solutions with TokenEx’s specialization in “the… Read More
Payments Canada is actively involved in promoting harmonization of the ISO 20022 message usage for high-value payment systems globally and is declaring its support for the High-Value Payments Systems Plus (HVPS+) ISO 20022 Payments Interoperability Charter. The charter sets out objectives and principles “designed to… Read More
Ironically, according to Dima Kats, CEO of Clear Junction, banks and financial institutions are probably some of the most unbanked segments in the world. From high fees to long settlement times, regulatory pressures to difficulty in accessing multi-country payment options, the issues and barriers facing… Read More
Following consultations over the last few months, the UK’s Payment Systems Regulator regulator confirms its new reimbursement requirement which will “prompt a step-change in fraud prevention and see the vast majority of money lost to APP frauds reimbursed to victims.” The policy statement confirms “that… Read More
Hong Kong and Thailand aims to revolutionize the way travelers handle currency exchange with the launch of interoperable digital payment systems. From December 4, residents from both regions will be able to make transactions using their local digital payment platforms, thanks to a landmark agreement… Read More
The Payment Systems Regulator (PSR) has launched two consultations in the lead up “to the implementation of its new authorised push payment (APP) fraud reimbursement requirements. ” In June, the PSR set out its final position on “tackling APP fraud, which will mean the vast… Read More
The Bank of Israel has issued a framework providing international payment service providers access to regulated payment systems in Israel. Effective immediately, this framework “enables such entities to provide services to the public in Israel, relying on a license issued in a foreign country.” The… Read More
The House Financial Services Committee, Subcommittee on National Security, International Development and Monetary Policy will convene a hybrid hearing entitled, āUnder the Radar: Alternative Payment Systems and the National Security Impacts of Their Growth.ā According to the hearing memo, alternative payment systems can operate independently… Read More
Focused Labs, a digital transformation consultancy and software development firm,Ā announced it has joined the Stripe Partner Ecosystem “to help enterprises modernize their payment systems and deliver better customer experiences at check-out.” Focused Labs and Stripe, a financial infrastructure platform for businesses, will “help customers… Read More
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