Remove Addressing Remove Cover Payment Remove Participant
article thumbnail

MAS Directs Suspension: Qoo10 Fails to Show Enough Resources to Make Payment Obligations

The Fintech Times

Arising problems Between April and August 2024, MAS and other government agencies received several customer complaints against Qoo10 for delays in processing payments to its customers, who are merchants on Qoo10’s e-commerce platform. Qoo10 was asked to address these complaints, and while some were resolved, others remained outstanding.

article thumbnail

Navigating the FCA’s Consumer Duty: Key insights and action steps for payments firms

The Payments Association

A wide range of firms in the payments sector are affected by the FCA’s Consumer Duty, with specific responsibilities applying to each to ensure good consumer outcomes are being delivered. This approach enables them to monitor the delivery of good consumer outcomes and address shortfalls promptly.

article thumbnail

PSD2 Is Coming To Europe And Bringing Big Changes

PYMNTS

The goal was to make it easier for nonbanks — companies such as FinTechs — to participate and build businesses in the financial sector. What this PSD3 will cover, I don’t know,” he said. The earlier regulation was designed to increase competition in the European financial services market. First Name*. Last Name*. Work Email*.

article thumbnail

What is Zelle Real-Time Payments in the USA?

Clearly Payments

All they need is the recipient’s phone number or email address. Both systems provide a simple, convenient way to send money person-to-person (P2P) , allowing users to transfer funds quickly and securely by entering just the recipient’s email address or phone number. Zelle works by linking to users’ bank accounts.

Zelle 90