Payments News » Regulation

New York Vs. Grubhub

September 30 2019

“In June, during a four-hour hearing of the New York City Council’s small-business committee, restaurant owners complained about the high commissions charged by Grubhub and other third-party delivery apps, which usually range from 15 to 30 percent. The service also faced criticism for its recently discontinued practice of creating web domains for the restaurants on […]

Regulation

Japan’s Central Bank Chief Calls for International Effort on Libra Regulation

September 24 2019

in
Cryptocurrencies

“The head of Japan’s central bank has called for international cooperation in regulating stablecoins like the Facebook-led Libra. According to a Reuters report , Haruhiko Kuroda, governor of the Bank of Japan, said: “If Libra is introduced, it could have a huge impact on society.””

Regulation

Barclaycard Finds That SCA Has Had No Initial Impact on Transactions

September 18 2019

“Analysis from Barclaycard of transaction data from 14 and 15 September, the first two days following the EU deadline, shows that the SCA rollout has had no initial impact on sales.Paul Adams, director of acquiring at Barclaycard Payment Solutions, says: “Our data offers encouraging news for merchants, whose transaction volumes have been, so far, unaffected […]

Regulation

Why Some Banks Are Ditching Their State Regulators

September 17 2019

“OCC head Joseph Otting, a Trump appointee who calls banks “customers,” has praised national charters as a way to let banks operate more efficiently and be regulated more thoroughly. “The national bank charter continues to have great value in providing banks a flexible regulatory framework,” Mr. Otting said in an email response to questions.”

Regulation

Visa, Mastercard, Others Reconsider Involvement in Facebook’s Libra Network

October 2 2019

in
Cryptocurrencies

“Cracks are forming in the coalition Facebook Inc. FB -1.13% assembled to build a global cryptocurrency-based payments network. Visa Inc., Mastercard Inc. MA -0.91% and other financial partners that signed on to help build and maintain the Libra payments network are reconsidering their involvement following a backlash from U.S. and European government officials, according to people familiar […]

Regulation

European Payments Industry Group Seeks Additional Extension on PSD2-SCA

October 4 2019

“he European Association of Payment Service Providers for Merchants, which represents industry members in 16 countries, is urging regulators to provide a longer extension to the PSD2-SCA deadline amid concerns that many sectors will face significant disruption without additional time. The group sent an open letter to regulators on Wednesday asking regulators to push for […]

Global

Zimbabwe’s Central Bank Has Reversed Its Ban on Mobile Money-for-cash Transactions

October 10 2019

in
Zimbabwe

“Zimbabwe’s central bank has lifted its ban on mobile money to cash transactions after three days of public outcry and criticism even as the government continues to struggle to contain the country’s economic crisis.”

Domains

Supreme Court Allows Blind People to Sue Retailers If Their Websites Are Not Accessible

October 8 2019

in
Remote Commerce

“In a potentially far-reaching move, the justices turned down an appeal from Domino’s and let stand a U.S. 9th Circuit Court of Appeals ruling holding that the Americans With Disabilities Act protects access not just to restaurants and stores but also to the websites and apps of those businesses. Guillermo Robles, who is blind, filed […]

Regulation

New Sales Tax Rules Take Effect This Week In More Than A Dozen States

October 7 2019

“If you made a purchase on the internet yesterday, you might have noticed something different: sales tax. Changes in sales tax compliance laws for remote sellers and marketplace facilitators in more than a dozen states kicked in beginning October 1, 2019. More than 40 states have tweaked their sales tax laws since a 2018 Supreme Court […]

Global

Nigeria Is Finally Turning to Telcos to Drive Financial Inclusion Through Mobile Money

October 10 2019

“The regulatory caution and conservatism often blamed for holding Nigeria back finally looks set to change with the central bank reversing a longstanding stance on declining to issue mobile money licenses to telecoms operators. In the wake of the central bank’s change in tack, MTN, Nigeria’s largest telecoms operator, with more than 60 million customers, […]