An update on the work to tackle payment scams
PSR have announced that they will be publishing a report highlighting the progress against the measures they set out to tackle authorised push payment scams. The report will be published in November.
PSR, 22 September 2017
Joint Committee of the ESAs final guidelines under revised Wire Transfer Regulation
The Joint Committee of the ESA has published the final guidelines under the revised Wire Transfer Regulation (Regulation (EU) 2015/847) (revised WTR) on the measures that payment service providers (PSPs) should take to detect missing or incomplete information on the payer or the payee, and the procedures they should put in place to manage a transfer of funds lacking the required information (JC/GL/2017/16).
ESA, 22 September 2017
Paul Smith's speech at the International Cards and Payments Conference 2017
On 19th September 2017, Paul Smith, Head of Policy at the Payment Systems Regulator, was invited to speak at the International Cards and Payments Conference. In his speech he provides his comments in innovation, the Payments Strategy Forum and PSD2 and Open Banking.
PSR, 26 September 2017
FCA and Hong Kong Insurance Authority enter into FinTech co-operation agreement
The FCA has published a co-operation agreement it has entered into with the Hong Kong Insurance Authority to provide a framework for co-operation on information sharing on FinTech innovation and referrals of innovative firms seeking to enter the other's market.
FCA, 21 September 2017
Payment processor Nets acquired for $5.3 billion
A US private equity firm Hellman & Friedman acquired Denmark-based payment processor Nets for $5.3 billion. Nets enables business in the Nordic region to accept and process credit and debit card transactions, as well as online payments.
Business Insider, 26 September 2017
CK Hutchison and Ant Financial form JV for Hong Kong payments plan
Conglomerate CK Hutchison and Ant Financial have formed a joint venture to offer a digital wallet under the AlipayHK brand, with the aim to integrate online and offline payments in Hong Kong.
Banking Technology, 27 September 2017