SurePay, the leading Confirmation of Payee provider, has announced that Triodos Bank UK, one of the leading players in ethical sustainable banking, will implement its full-service Confirmation of Payee solution.
Payments regulatory news, August 2021 #2 | Hogan Lovells jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Europe: EBA consults on proposed guidelines on limited network exclusion under PSD2
On 15 July 2021, the EBA published a consultation paper (EBA/CP/2021/28) proposing guidelines on the limited network exclusion (LNE) under PSD2.
The EBA explains that Article 3(k) of PSD2 introduced an exclusion for services based on specific payment instruments that can be used only in a limited way. It believes that the implementation and application of the LNE requirements diverges significantly between member states, which impedes the single market for payment services in the EU and creates opportunities for regulatory arbitrage. The EBA also believes that consumers are sometimes unaware that they do not benefit from the protection envisaged under PSD2.
Banking, Fintech Report Highlights UK s Fast-Growing Financial Tech Space, while Challenges Include Centralized Cloud Providers crowdfundinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crowdfundinsider.com Daily Mail and Mail on Sunday newspapers.
Pay.UK Releases Technical Info for Entities Aiming to Implement ISO 20022, and Transition to Improved Retail Payments
The
New Payments Architecture (NPA) will aim to offer various benefits for businesses and personal clients residing in the United Kingdom, which may assist with improving the way they control their professional and personal transactions while creating more innovation opportunities.
The adoption of the ISO 20022 standard, not only in the UK but internationally, will have a significant impact on the data handling capability of payment providers, transforming the way we carry out payments and transfer financial details.
The updated standard enables enhanced data exchange; richer information via an improved quality and quantity of data – which can result in new benefits and opportunities for innovation in the payments space and other areas.