Electronic Funds Transfer Code News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By
Kate Weber
on May 21, 2021 1:08PM
Looks to make code mandatory, define biometric authentication.
The Australian Securities and Investments Commission (ASIC) today released a consultation paper requesting feedback on planned updates to the ePayments Code.
The regulator is looking to update the ten-year-old code to ensure it remains effective within the growing and evolving payment landscape.
Formerly known as the Electronic Funds Transfer Code of Conduct (EFT Code), the ePayment Code helps regulate electronic payments services in Australia.
This is ASIC’s second consultation on the ePayments Code after its first 2019 review.
The voluntary code bounds participating financial services to provide transparency around terms and conditions and assists with consumer payment issues. ....

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