PSD2 Security Obligations PSD2 has added many additional compliance obligations on the firms that fall within its scope – perhaps the most controversial are those known as the PSD2 Security Obligations set out in Chapter […]
The cross border interchange fee rules become effective on 9 December. This means that merchants (and hopefully consumers) should see the benefits of having capped fees applied with respect to cross border: Credit card payments – […]
One of the significant changes proposed by PSD2 is the right of Third Party Payment Providers (TPPs) to be granted access rights to account servicing PSPs. Vocalink, together with Equens SE and Nets have issued a […]
The European Banking Authority‘s (EBA) first tranche of “Security of Internet Payment Guidelines” became effective from 1 August 2015. Following the EBA’s consultation published in October 2014, the EBA decided that due to the continually high […]
A significant reform of UK consumer protection law has been carried out with the enactment of the Consumer Rights Act 2015 (“CRA”). Many of the key requirements of the CRA will come into force from October […]
It is no longer the case that Bitcoin and other virtual currencies (VCs) live in a legal / regulatory vacuum. Many will be familiar with the regulations outlining the New York State “Bitlicensing Regime” and closer […]
ApplePay will launch in the UK this July with over 250,000 merchant locations (incl. M&S, Boots, Waitrose & TFL) and partnering with an initial 8 banks (such as HSBC, Santander & RBS). More banks are slated to […]
We recently reported on some of the key matters that operators of a bitcoin business should consider in light of the new NY Virtual Currency licensing regime. Now the New York State Department of Financial […]
We now live in a world where a US jurisdiction has finalised specific virtual currency licensing laws – as provided by the New York State Department of Financial Service’s “Bitlicence Regulations”. These regulations have been the […]
(Note: the below is a high level review of certain potential issues and is not to be relied upon in any definitive manner nor as legal and/or regulatory advice). The UK Financial Conduct Authority (FCA) […]