Payments News

On The Web

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Regulation

PSD2: Real-time processing? Not so fast

“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.”
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Global

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

“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

“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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Domains

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

“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 […]

On The Wires

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Regulation

Transakt Judged PSD2 Compliant for Strong Customer Authentication

“Entersekt, a leader in next-generation digital banking security, today announced that its mobile app security and authentication product Transakt has been endorsed by a key European consultancy as a “state of the art solution” to the European Banking Authority’s Regulatory Technical Standards (RTS) on strong customer authentication under PSD2. These specifications define the enhanced security […]
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Regulation

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

“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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Companies

Mastercard Unveils Solutions To Underpin Open Banking Transformation

“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

“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.”