Payments News

On The Web

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Domains

Using a selfie to verify your online card payment – the technology is here

September 17 2018

“Mastercard is hoping its Identity Check solution will become the technology of choice for banks looking to meet new requirements for verifying identities online as set out in the (Revised Payment Service Directive) (PSD2) legislation. The technology, which has been developed in part at the Mastercard Labs facility in Leopardstown, enables users to use biometric identifiers […]
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Global

Fintechs and PSD2: The Role Of Competition Enforcers In Opening Up The Bank Infrastructure

July 27 2018

“Despite the explosive growth of Fintech companies, newcomers to financial services sector often experience barriers when entering the market. Banks are not required to share their customers’ payment account data with third parties on the basis of existing financial regulations. In various studies, the Netherlands Authority for Consumers and Markets (“ACM“) analysed the possibilities to increase […]
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Regulation

What Europe’s Tough New Data Law Means for You, and the Internet

May 7 2018

“The new law requires companies to be transparent about how your data is handled, and to get your permission before starting to use it. It raises the legal bar that businesses must clear to target ads based on personal information like your relationship status, job or education, or your use of websites and apps.”
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Regulation

PSD2: Real-time processing? Not so fast

August 30 2018

“Industry experts observe that while the revised Payment Services Directive (PSD2) represents an opportunity for corporate treasury to take advantage of real-time payment processing, it will take some time for the full benefits to be realised.”

On The Wires

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Companies

Mastercard Unveils Solutions To Underpin Open Banking Transformation

June 5 2018

“Mastercard announced today that it is developing a new suite of services to underpin the transformation taking place in the industry as partners ready themselves to take advantage of Europe’s PSD2 legislation. With trust and security major pillars of the open banking ecosystem, Mastercard’s new services will make it easier for banks and third party […]
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Domains

Nordea takes Open Banking beyond PSD2

December 18 2018

“Nordea is launching Instant Reporting, a new Open Banking solution that enables corporate customers to access their own accounts and integrate real-time data with their own systems and processes. It is the first offering from Nordea that moves beyond legal requirements in PSD2 and turns Open Banking into a commercially viable product.”
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Regulation

EBA Goes Live With Its Central Register of Payment and Electronic Money Institutions Under PSD2

March 19 2019

“The European Banking Authority (EBA) launched today its central electronic register under the Payments Services Directive (PSD2). The register will provide information on several thousand payment and electronic money institutions and 150,000 agents within the EU. Its objective is to increase transparency and ensure a high level of consumer protection within the European Single Market. […]
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Regulation

Token.io and Konsentus Launch Fast PSD2 Compliance Solution by Combining Turnkey PSD2 API With Automated TPP Verification

March 27 2019

“With PSD2’s Regulatory Technical Standards (RTS) deadline passed, European FIs are under pressure to move quickly to deliver open APIs for testing. The Token and Konsentus partnership enables FIs to fast-track PSD2 compliance by connecting to a managed combination of two best-of-breed open banking technology platforms. By connecting banks and FIs to its SaaS PSD2 […]