Shawbrook introduces SCA for retail and business e-savings customers mortgageintroducer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgageintroducer.com Daily Mail and Mail on Sunday newspapers.
On 28 January 2021, the Financial Conduct Authority (FCA) published a consultation paper (CP21/3)
1 proposing various changes to the UK regulation of payment services and electronic money. Most of the proposed changes relate to clarification or expansion of the existing FCA guidance contained in the document “Payment Services and Electronic Money – Our Approach” (Approach Document). There are also proposed changes to the substantive regulatory requirements.
The consultation closes on 24 February 2021 in respect of the proposed changes to the contactless payment limits (see below); it closes on 30 April 2021 with respect to all other aspects.
We discuss here the key proposals and their potential implications.
Share
Photo Credit: Gerd Altmann/Pixabay
The Institute of Travel Management (ITM) has launched a campaign calling for industry collaboration in establishing consistent guidance for travel buyers on the significant implications of the EU’s new Payment Services Directive (PSD2).
The ITM s industry affairs committee has established a taskforce to bring together corporate card issuers, TMCs and technology suppliers to provide unified information after buyer members revealed that they are facing a minefield of conflicting advice on which booking types and card products require Strong Customer Authentication (SCA).
SCA, part of the PSD2 regulations which will come into force in the UK in September 2021 despite Brexit, requires cardholders to confirm their identity using more than one technique, such as PINs, one-time identifiers, biometric identifiers and ID fobs.
Interview
Interview with TrueLayer about PayDirect, the new Open Banking-based payment solution Wednesday 3 February 2021 07:58 CET | Editor: Oana Ifrim | Interview
The Paypers sat down with
Ossama Soliman, Chief Product Officer at
TrueLayer, to learn more about TrueLayer and future plans following the launch of their new payments product, PayDirect
What is TrueLayer’s story and how would you best describe the company’s business model and services? What are your target segments?
Our vision is to create a financial ecosystem that’s open to everyone by building intelligent infrastructure that puts fintech at people s fingertips. We empower anyone to create smarter financial services while removing friction and cost for our clients.
Invisible payments bring visible benefits and risks paymentssource.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from paymentssource.com Daily Mail and Mail on Sunday newspapers.