Regulation RSS
NPSO takes over consolidation of Bacs and Faster Payments
The New Payment Systems Operator (NPSO) has announced that it has taken over responsibility for the operation of Bacs and Faster Payments. The completion of this transaction represents a significant milestone for the payments industry and is the latest step in a series of developments bringing wholesale change to UK payments. The PSR set up [...]
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Infograph: What the GDPR means for payments?
European legislation called the General Data Protection Regulation (GDPR) is set to apply as of 25th of May 2018. It will definitely change how personal data are being processed in Europe, enhancing the right to privacy of individuals. From the payments perspective, it will also impact payment service providers (PSPs). Therefore, if not yet done, [...]
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UK’s Open Banking initiative goes live after managed roll out
The Open Banking initiative in the UK has finished a three-month managed roll out programme, leaving regulated companies free to start offering Open Banking related services. Since mid-January, the Open Banking Implementation Entity has carried out a managed roll out designed to prove that the systems designed to give customers control over their financial data [...]
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PSD2 and Open Banking an uneven playing field says Santander Head
PSD2 and Open Banking regulations need to be reformed says the head of Santander, the eurozone’s biggest retail bank, calling for the EU’s flagship new payments regulation to be reviewed to avoid hamstringing banks’ ability to compete with large technology groups. Ana Botín, executive chairman of Santander, told the FT that the EU’ s Second [...]
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Payment cards in Europe – an update from the European Payment Card Yearbooks
Cards and card payment at the point of sale and online showed solid growth rates in most European countries in 2017. This was supported by the rollout of contactless technologies, digital wallets and mobile NFC HCE payments. We examine the statistics and notable trends from the latest Payment Card Yearbooks. Cards in issue and card [...]
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