Regulation RSS
Sepa direct debit exception handling guidance
A Sepa migration forum facilitated by the Euro Banking Association has set out its best practice guidelines on direct debit exception handling. The Sepa migration action round table (Smart) presented its advice on dealing with so-called R transactions – rejects, refusals, returns, refunds, reversals, revocations and requests for cancellation – at a Sibos panel today. [...]
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U.S. judge rejects Fed cap on debit card swipe fees
A U.S. judge ruled on Wednesday that the Federal Reserve ignored the intent of Congress regarding a controversial cap on debit card “swipe fees” that are part of a dispute between banks and retailers. The 2010 Dodd-Frank law called for the Fed to cap such fees, which banks charge to retailers when their customers use debit cards to make [...]
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Virtual currencies launch self-regulatory group
The controversy surrounding virtual currencies is prompting enthusiasts to try to bolster their legitimacy and fight perceptions that they attract illicit behavior. A group of companies that are pushing virtual currencies such as bitcoin are expected on Tuesday to announce they have set up a self-regulatory organization to promote common rules for the fledgling industry – according [...]
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Barclaycard partners with Sysnet to provide merchant PCI Compliance Validation services
Barclaycard announces that it has partnered with Sysnet Global Solutions to provide PCI DSS compliance validation services to its UK based merchant customers. In the accompanying press release Internal Market and Services Commissioner Michel Barnier described the current EU payments market as fragmented and expensive. ‘Our proposal will promote the digital single market by making [...]
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Reactions to PSD2 and the proposed regulation of MIFs
The European Commission (EC) published the long awaited proposal for a revised Payment Services Directive (PSD2), and a proposal for the regulation of Multilateral Interchange Fees (MIF), on 24 July 2013. In the accompanying press release Internal Market and Services Commissioner Michel Barnier described the current EU payments market as fragmented and expensive. ‘Our proposal [...]
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