EBIC encourages European Commission to accept its self-regulatory initiative
The European Banking Industry Committee (EBIC) has put forward to the European Commission a final proposal for self-regulatory measures on transparency and comparability of personal current account fees. The proposal reflects the commitment of the banking industry to competition and increasing consumer confidence. It is aimed at complementing the provisions already laid down in the Payment Services Directive.
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Lawmakers say data breach regulations are needed
Cybersecurity experts say stricter laws are needed to spur companies into taking stronger action to protect their customers' information.
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Durbin seeks to adjust small bank interchange exemption
U.S. Sen. Dick Durbin (D-Ill.) wants to guarantee that the debit interchange fee cap is not doing harm to small banks by bolstering the exemption for such institutions.
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The European Payments Council Calls on European Lawmakers to Align Forthcoming SEPA Regulation with Bank Customer Requirements
The European Payments Council (EPC), representing the European banking industry in relation to payments, has today spoken out on the legislative process aimed at establishing mandatory deadlines for migration to the Single Euro Payments Area (SEPA). The EPC has called on European Union (EU) lawmakers to align the imminent ‘Regulation Establishing Technical Requirements for Credit Transfers and Direct Debits in Euro’ (commonly referenced as the ‘SEPA Regulation’), with the preferences of European payment service users. The EPC makes a specific request for a review of provisions within the legislative proposal addressing direct debit transactions.
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The European Payments Council Comments on the European Commission’s Investigation into its Standardisation Process for Online Payments
The European Payments Council (EPC), representing the European banking industry in relation to payments, today commented on the antitrust investigation launched by the European Commission against the EPC’s work in the area of SEPA-wide online payments.
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Banks sceptical about meeting 2014 Sepa compliance deadline
Bankers and corporates do not expect to meet a 2014 deadline for Sepa compliance, according to a straw poll of delegates conducted during a panel discussion of the controversial payment initiative at the annual congress of banking co-operative Swift.
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EPC warns Brussels to stay out of payments initiatives
The European Payments Council has warned the European Commission not to abuse its executive powers and take on a standards-setting role in the push to create a Single Euro Payments Area (SEPA), arguing that banks must retain their primacy in the development of payment systems.
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EU Parliament Committee does not challenge European Commission’s proposal on SEPA migration Regulation
On 11 July the European Parliament’s Economic and Monetary Affairs Committee did not challenge the European Commission’s December 2010 proposal for a SEPA migration Regulation. The Committee rejected most of the many amendments submitted by Members of the European Parliament. These amendments were aimed at enhancing a proposal which combines the necessary setting of end dates for existing national credit transfer and direct debit schemes with minute technical arrangements and far-reaching policy orientations. This intended Commission Regulation should lead to EU-wide adoption of single credit transfer and direct debit schemes.
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UK Payments Council sets two-year deadline for account switching project
The UK Payments Council has set a two-year timescale on an industry-wide project to make bank account switching easier for consumers and small business.
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EU Consumer Credit Directive
The ‘Responsible lending’ survey carried out by CRIF and Efma examines the strategies put in place over the last year by lenders in 16 European countries in reaction to the economic crisis, to counteract over indebtedness among retail customers, and pursue an approach based on responsible lending. The report also looks at regional variations of the implementation of the EU Consumer Credit Directive.
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EPC releases Trusted Service Management spec
Mobile contactless payments
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EC migration plans would 'derail the entire Sepa project' - EPC
The EC will "effectively derail the entire Sepa project" if upcoming regulatory intervention on migration end dates does not include deadlines for phasing out national schemes, says the European Payments Council.
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European Payments Council marks further progress towards SEPA
The European Payments Council (EPC), the coordination and decision-making body of the European banking industry in relation to payments, today released updated and enhanced versions of the SEPA Credit Transfer (SCT) Scheme Rulebook and the SEPA Direct Debit (SDD) Scheme Rulebooks. 1 November 2010 marks another important target date on the route to SEPA as from today all banks in the euro area are reachable for cross-border SEPA direct debits as mandated by European Union (EU) law.
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European Payments Council marks further progress towards SEPA
The European Payments Council (EPC), the coordination and decision-making body of the European banking industry in relation to payments, today released updated and enhanced versions of the SEPA Credit Transfer (SCT) Scheme Rulebook and the SEPA Direct Debit (SDD) Scheme Rulebooks. 1 November 2010 marks another important target date on the route to SEPA as from today all banks in the euro area are reachable for cross-border SEPA direct debits as mandated by European Union (EU) law.
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European Payments Council - m-payments
The European Payments Council (EPC), has released a new white paper on aligning m-payments with SEPA and exploring how mobile payment services can be delivered through cooperation between service providers active in the banking industry and the new players emerging in the mobile ecosystem.
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MTN, Standard Bank face $136 million patent claim
South Africa's telecom company MTN and Standard Bank face a claim of up to 1 billion rand ($136 million) for infringement of technology patents in their joint venture MTN Banking.
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FinArch supports mobile payment company with compliance
Financial Architects (FinArch) says that the Belgian electronic payment issuer Tunz.com has implemented successfully Financial Studio Compliance to meet the local regulatory requirements.
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How to build sustainable regulation - By Hannes Van Rensburg, CEO, Fundamo
At the recent Mobile Money Summit in Barcelona there was much concern amongst the gathered parties over the unwieldy and inconsistent regulation being implemented around the globe with regards to mobile payments.
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Notes on mobile money regulation
The issue of how to effectively regulate mobile financial services was discussed by representatives from Vodafone, CGAP and the World Bank at the Mobile Money Summit.
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Central Bank position on m-banking under fire
Even as the Central Bank of Kenya (CBK) goes the extra mile to accommodate the innovative mobile money transfer concept, this has not gone down well with the banking fraternity.
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Payment Card Yearbooks - European Payment Cards Yearbook 2011-12, containing 33 individual country profiles and Russia, Georgia and CIS Payment Cards Yearbook 2011-12, containing 10 individual country profiles.
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