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UK regulator forces Diebold Nixdorf to sell UK business to complete Wincor merger
UK Competition and Market Authority (CMA) has ruled that the Diebold Nixdorf merger needs a ‘structural remedy’. In order to force the acquisition through, Diebold Nixdorf has agreed to sell its legacy business in the UK in order to meet the regulatory requirements. Diebold Nixdorf says it is already in talks with a potential purchaser to sell its [...]
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How can API standardisation be achieved in the context of PSD2?
In less than a year the revised Payment Services Directive (PSD2) will be implemented in European Union (EU) Member States, and the acronym ‘API’ is on the minds of Payment Service Provider (PSP) professionals. Application Programming Interfaces (APIs) are considered key to the implementation of PSD2, the main goal of which is to create a [...]
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Regulators enforce new rules – bank executives to vouch for cyber attack defences
Tough rules laid down by New York’s state regulator will see senior executives at some of the world’s biggest banks and insurers vouch for their companies’ resilience to cyber attacks. A new regulation, which takes effect on March 1, requires companies supervised by New York’s Department of Financial Services to establish and maintain a cyber [...]
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SEPA: Is the ECB stifling competition with its latest move?
Ten years ago the European Commission (EC) and the European Central Bank (ECB) announced a common vision for the Single Euro Payments Area (SEPA), which they described as an “integrated market for payment services which is subject to effective competition…” and described their role as “creating open and common standards that overcome technical and commercial [...]
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European regulator continues planned authentication shake-up
Following the European Banking Authority’s consultation paper on strong customer authentication, the future for operators in Europe looks uncertain. Since the introduction of 3-D Secure for card-based e-commerce payments in 1999, the industry has been moving towards a risk-based authentication approach. Background and step-up authentication, as and when required, has helped the industry strike a [...]
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