Open banking is still relatively new and, in principle, the risks of fraud are lower than with other online payment methods such as credit and debit cards. But is this actually true? Are there potential vulnerabilities in open banking that aren t present with existing banking and payment methods?
The open banking regulations in the UK and Europe have only been in force for a couple of years. Although the underlying PSD2 (Revised Payment Services Directive) EU regulation came into existence in early 2016, it wasn t fully enforced until September 2019. Since then, the number of FinTechs and other companies - officially known as Third Party Providers or TPPs - making authorised accesses to bank customer accounts has steadily increased.
Alcohol Marketplaces 2.0 Part 1: Solicitation of sales by unlicensed third-party providers
Only businesses that hold a license to sell alcohol at retail can sell alcohol to consumers. That simple fact complicates matters for unlicensed entities such as online marketplaces, delivery apps, and delivery services that would like to create or enhance platforms to facilitate alcohol sales. Marketplace platform providers, alcohol licensees, and alcohol and tax regulatory agencies all have different goals and concerns when it comes to the sale of beverage alcohol products.
In this
Alcohol Marketplaces blog series, Rebecca Stamey-White, partner at Hinman & Carmichael LLP, and Jeff Carroll, general manager of Avalara for Beverage Alcohol, will explore multiple issues surrounding alcohol marketplaces and propose a compliance framework to meet the goals and concerns of different stakeholders.
Source: Joe Maring / Android Central
Messaging apps are a dime-a-dozen these days, but when it comes to the big leagues, three options stand out above the rest. WhatsApp, Telegram, and Signal have all seen varying levels of success over the years. Following the news of WhatsApp s impending policy changes, a lot of users are wondering if they should jump ship to something else.
WhatsApp, Telegram, and Signal are all seen as some of the best Android messaging apps currently available, but depending on where your needs lie, one is likely a better fit over the rest. Today, we re going to help you sift through everything and make the best decision possible.
Upco International Inc. Announces Important Updates on UpcoPay and Upco Messenger
Vancouver, British Columbia (Newsfile Corp. - January 25, 2021) - Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) ( Upco ) is pleased to inform shareholders about the recent developments about the UPCO mobile platform. These documents can be accessed from the SEDAR web site at www.sedar.com.
UpcoPay, License update
UpcoPay is an innovative, highly secure and convenient direct payment solution to make person-to-person (P2P) and person-to-merchant (P2M) payments. In the second stage, with a full e-wallet implemented, users will be able to view multiple account balances, load funds, settle payments and initiate peer-to-peer and Foreign Exchange transfers instantly within the app without the need to create an account or input any bank details.
Konsentus has acquired Open Banking Europe S.A.S. from PRETA.
Open Banking Europe S.A.S., a 100% owned subsidiary of Konsentus Limited, will remain a separate operating entity which will continue to be led by John Broxis. The software solutions of Open Banking Europe will be directly integrated into the Konsentus business.
Formed in June 2017, the Open Banking Europe (OBE) initiative has been hugely successful in bringing together market participants to turn regulatory requirements into operational reality. The initiative provides its members with a collaborative environment to identify market issues and problems, championing awareness and creating solutions via guidance, standards and tools.