Payments News

On The Web

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Regulation

Strong Customer Authentication and Coronavirus

April 30 2020

“In the exceptional circumstances of the Covid crisis, we are giving the industry an additional 6 months to implement strong customer authentication (SCA) for e-commerce. This will minimise potential disruption to consumers and merchants. The new timeline of 14 September 2021 replaces the 14 March 2021 date. Firms are required to take all necessary steps […]
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Global

UK Bans Use Of Credit Cards To Pay For Gambling

April 14 2020

“From today (14 April 2020) gamblers in the UK can no longer use credit cards to pay for bets. The move has been welcomed because online gambling has increased during the coronavirus lockdown. The ban, first announced in January by the Gambling Commission and the government’s Department for Culture, Media and Sport, extends to credit […]
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Domains

Fed Preparing to Finance New Small-Business Payroll Loans

April 7 2020

“The Federal Reserve said Monday it would create a new program to finance loans that banks and other lenders make through the government’s emergency small-business lending program . The move will free up financial firms to make more loans guaranteed by the Small Business Administration’s Payroll Protection Program, part of a $2.2 trillion economic relief […]
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Regulation

CFPB Expands Relief for Banks and Credit Unions From Remittance Rules

May 12 2020

“More banks will be able to estimate costs to consumers of remittance transfers rather than quote exact third-party fees and exchange rates under a final rule issued by the Consumer Financial Protection Bureau. The rule released Monday expanded and made permanent temporary protections established in an earlier 2013 regulation. The new rule establishes a safe […]
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Regulation

NatWest Develops Behavioural Biometrics As Additional Authentication

June 15 2020

“NatWest Bank is preparing to comply with the European Union (EU)’s payments security through the development of behavioural biometrics technology. The technology recognises patterns related to how people interact with devices and because it works in the background, does not require the customer to take extra steps. The development, in partnership with Visa, is part […]
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Global

UK’s FCA releases updated guidance for payments firms amid COVID-19

May 22 2020

“The U.K. Financial Conduct Authority issued renewed guidance on payments firms amid concerns that the COVID-19 pandemic has put additional pressure on many startups that depend heavily on investor support and may not be able to meet original performance targets. “The guidance is part of a broader programme of work the FCA was planning to […]

On The Wires

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Domains

Ingenico’s New SCA Accelerator Suite Speeds up Compliance

June 3 2020

“Ingenico Group, the global leader in seamless payments, today unveils its SCA accelerator suite to help online businesses remain compliant, innovate and better control their data. The suite will bring all of Ingenico ePayments’ expertise together to help online businesses improve their performance and facilitate the implementation of Strong Customer Authentication (SCA), due on 31 […]
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Regulation

Barclaycard Payments Partners With Kount to Deliver Industry-leading Fraud Prevention and Prepare Businesses for Strong Customer Authentication (SCA)

June 2 2020

“Barclaycard Payments, which processes almost 40 per cent of card transactions in the UK, has announced a new partnership with leading fraud prevention provider Kount to give Barclays Transact customers access to award-winning fraud detection software. Barclays Transact is a suite of tools designed to help merchants make their online transactions both simpler and safer. […]
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