PYMNTS

JULY 16, 2020

In a surprise win for privacy advocates, the European Court of Justice has ruled companies will face restrictions on storing information about European Union (EU) residents on U.S. The top court of the 28-nation bloc ruled the transfer of personal data to platforms in the U.S. servers, The Wall Street Journal reported. Alphabet Inc.’s

Rules 84

Rules Cross-Border Best Practices Privacy 84

Neopay

JANUARY 25, 2024

The Prudential Regulation Authority (PRA) has fined Mr Iain Mark Hunter, the former Chief Executive Officer (CEO) of Wyelands Bank Plc (Wyelands), £118,808 for breaching three PRA Conduct Rules between 7 March 2016 and 28 May 2020.

Breach 52

Breach Rules Mitigation Regulations 52

PYMNTS

DECEMBER 26, 2018

The Indian government has made new rules for websites like Amazon and Flipkart and changed how they’re allowed to sell goods in the country, according to reports. Under the new rules, which go into effect on Feb. Also, the companies can’t have exclusive agreements with sellers. A petition was also filed against Flipkart.

Rules 62

Rules Agreements Laws Regulations 62

PYMNTS

JANUARY 13, 2019

All India Online Vendors Association, a trade group representing online merchants in India, vowed to appeal a ruling by the Competition Commission of India that favored Flipkart , the eCommerce company owned by Walmart. Chanakya Basa, a lawyer for All India Online Vendors, said it will appeal the ruling.

Rules 75

Rules Governance Government Agreements 75

Payments Source

JUNE 28, 2018

are getting close to settling a 13-year-old lawsuit over fees charged when merchants accept card payments, according to a person familiar with the agreement. and Mastercard Inc.

Agreements 65

Agreements Visa Payments Rules 65

PYMNTS

MARCH 6, 2019

The regulations additionally stopped eCommerce outfits from entering into exclusive agreements about product sales. The new eCommerce rules took effect on Feb. Companies like Walmart and Amazon were also required to give all sellers a fair chance at warehousing, logistics and advertising. billion people in India. .

Rules 63

Rules Regulations Adjustments Agreements 63

Fintech Review

JUNE 25, 2024

Smart Contracts: Automating Financial Agreements Smart contracts represent a pivotal advancement facilitated by blockchain technology. These self-executing contracts enable automated verification, execution, and enforcement of agreements without intermediaries.

Blockchain 95

Blockchain Technology Cross-Border Innovation 95

PYMNTS

OCTOBER 5, 2016

.” And as of this morning, those new rules for prepaid products have been finalized. “Our new rule closes loopholes and protects prepaid consumers when they swipe their card, shop online, or scan their smartphone. ” CFPB director Richard Cordray noted in remakes released along with the new rules this morning.

CFPB 75

CFPB Rules PayPal Debit Card 75

PYMNTS

NOVEMBER 3, 2020

In other words, there may be a range of potential new rules coming into play in the U.S. Late last week, the Consumer Financial Protection Bureau (CFPB) said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year.

CFPB 79

CFPB Consumer Financial Protection Bureau (CFPB) Rules Authorization 79

Neopay

NOVEMBER 27, 2023

The European Council and European Parliament have struck a provisional agreement on the mandatory provision of instant credit transfers in euros and access to central bank payment rails by non-bank e-money institutions and stablecoin issuers. Mep Michieel Hoogeveen says: “The EU payments systems as a whole will become more competitive.

Instant Payments 52

Instant Payments Stablecoins Non-Bank IBAN 52

FICO

SEPTEMBER 20, 2017

New rules from the UK’s Financial Conduct Authority could require new forms of communications aimed at raising awareness with consumers, increasing transparency and tackle the issue of persistent debt across the UK. FICO clients are using this functionality today to send, receive and sign agreements on the consumer’s mobile phone.

Rules 60

Rules Issuers Push-to-Card Credit Cards 60

PYMNTS

JULY 11, 2017

The Consumer Financial Protection Bureau (CFPB) has handed down a controversial ruling stating companies cannot opt to use arbitration clauses in their contracts with consumers in a manner that keeps consumers from joining class action lawsuits. The rule begins applying to agreements and contracts 180 days later. .

CFPB 40

CFPB Rules Consumer Financial Protection Bureau (CFPB) Credit Cards 40

PYMNTS

MAY 6, 2016

The CFPB is moving toward a rule change that will make it much easier for consumers — or more specifically groups of consumers — to take banks and other financial institutions to court as part of class action lawsuits. The new rules got its first official public hearing yesterday. It’s official.

Rules 41

Rules CFPB Agreements Laws 41

Fintech Finance

MARCH 26, 2024

The settlement also provides updates to several key network rules giving merchants more choice in how they accept digital payments. The agreement’s multi-year benefits for businesses include: Lower interchange rates. The settlement will reduce credit interchange rates for U.S. merchants, comprised largely of small businesses.

Settlement 52

Settlement Caps Small Business Agreements 52

PYMNTS

FEBRUARY 20, 2018

It doesn’t look like global banking regulators will be rushing to change their rules for FinTechs anytime soon. As a result, the scope and nature of banks’ risks and activities are rapidly changing, and rules governing them may need to evolve as well.”. In fact, Britain’s Financial Conduct Authority and the U.S.

Regulations 40

Regulations Rules FinTech Online and Mobile Banking 40

The Fintech Times

SEPTEMBER 23, 2024

The new agreement extends an existing partnership between Nasdaq and Nubank, with the bank leveraging technology to manage its fixed-income and money market operations. In response to this shift, the region’s regulators are aiming to unlock new areas of open finance and digital banking through rule changes.

Compliance 105

Compliance Regulations Treasury Reporting Requirements 105

Nanonets

SEPTEMBER 16, 2024

This process transforms unstructured contract text into structured data that is much more convenient to analyse.This also helps businesses to find and use key details hidden in their contracts, making it easier to understand and manage their agreements. Handles various contract types and formats more effectively than rule-based systems 3.

Legal 59

Legal AI Payment APIs and Integration Agreements 59

NFCW

JULY 17, 2024

“The European Commission has made commitments offered by Apple legally binding under EU antitrust rules,” the official announcement says. “The European Commission has made commitments offered by Apple legally binding under EU antitrust rules,” the official announcement says.

Payment Service Provider (PSP) 74

Payment Service Provider (PSP) Use Case Legal Agreements 74

Global Fintech & Digital Assets

JANUARY 24, 2024

Wink , and Deric Behar On January 10, 2024, the Securities and Exchange Commission (SEC) issued , on an accelerated basis, an Omnibus Approval Order (the Order) for proposed NYSE Arca, Nasdaq, and Cboe BZX rule changes seeking to list and trade shares of 11 spot bitcoin trusts.

Bitcoin 59

Bitcoin Product Agreements Rules 59

The Fintech Times

SEPTEMBER 4, 2024

This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer. Regulatory rules are constantly changing, with new ones being introduced at a rapid rate. .

Compliance 64

Compliance Rules Regulations Cybersecurity 64

PYMNTS

OCTOBER 11, 2020

Friday's ruling by U.S. Given the novelty and the magnitude of the issues, as well as the debate in both the academic community and society at large, the Court is unwilling to tilt the playing field in favor of one party or the other with an early ruling of likelihood of success on the merits," Rogers wrote.

Rules 104

Rules Laws Processors Breach 104

Fintech Finance

AUGUST 28, 2024

Businesses can use natural language prompts to describe new fraud rules they’d like to set, and the assistant will draft rules accordingly. The rules can then be tested against previous payments to see if they boost revenue and block fraud without increasing false positives.

Cross-Border 96

Cross-Border AI Payments Cross-Border Payments 96

Nanonets

NOVEMBER 14, 2023

It is used when there is a pre-established contract or agreement with the supplier regarding the price of the goods. Rules for Self-invoicing The adoption of self-invoicing entails adherence to a set of rules to ensure a smooth and compliant financial processes: Legal Validity: Every self-billing agreement must stand on solid legal ground.

Agreements 52

Agreements Compliance Disputes Legal 52

Neopay

DECEMBER 18, 2023

This agreement leaves out a decision on the location of the agency’s seat, a matter that continues to be discussed on a separate track. The agreement entrusts the authority to supervise up to 40 groups and entities in the first selection process. AMLA will have the power to issue non-binding recommendations.

Money Laundering 52

Money Laundering Authorization AML Agreements 52

International Payments Processing

JANUARY 11, 2022

Besides, the primary users of Cashless ATMs are the merchants, which cannot obtain payment services – whether due to legal or regulatory prohibitions, Visa rules, or the rules of other networks. The purchase transactions are then submitted to Visa’s plus network to process the transaction.

ATM 88

ATM Transactions Point-of-Sale (POS) Acquirers 88

International Payments Processing

JANUARY 11, 2022

Besides, the primary users of Cashless ATMs are the merchants, which cannot obtain payment services – whether due to legal or regulatory prohibitions, Visa rules, or the rules of other networks. The purchase transactions are then submitted to Visa’s plus network to process the transaction.

ATM 88

ATM Transactions Point-of-Sale (POS) Acquirers 88

PYMNTS

JULY 1, 2020

Crypto payments will be valid so long as the fee agreement is “fair and reasonable” and the lawyer can safeguard the virtual property, the opinion states, so as to acknowledge the sometimes turbulent nature of cryptocurrencies. .” Washington D.C.

Digital Currency 78

Digital Currency Cryptocurrency IRS Agreements 78

PYMNTS

JUNE 25, 2020

It will be easier for New York cryptocurrency businesses to launch in New York, thanks to a plan by regulators that would ease licensing rules. Kristina Johnson , SUNY’s Chancellor, said the key ingredient of the agreement is to develop the next generation of developers, researchers and leaders.

Cryptocurrency 96

Cryptocurrency Regulations Agreements Blocks 96

The Fintech Times

SEPTEMBER 30, 2024

Santander and SMF’s research underscores the importance of international coordination in the fight against fraud, recommending that the UK government take a leadership role by advocating for a comprehensive global agreement on fraud prevention.

Law Enforcement 59

Law Enforcement Cross-Border Fraud Prevention Crime 59

The Fintech Times

AUGUST 19, 2024

It revealed that it saw support for greater levels of coordination, although concerns exist about the need for a multilateral agreement (MLA). It now plans to work closely with the VRP implementation group to look at what specific rules an MLA should include and who might be best placed to operate it.

Continuity 59

Continuity Regulations API Reporting Requirements 59

Stax

MAY 20, 2024

What accounting rules do subscription businesses need to abide by in order to stay compliant with global standards? Identify the contract with the customer Under ASC 606, a contract refers to any agreement between two parties that is verbal, written, or implied. So, what differentiates ‘earned’ versus ‘unearned revenue’?

Accounts 167

Accounts Adjustments Legal Agreements 167

PYMNTS

JANUARY 26, 2020

The EU is looking to adopt new antitrust rules that will aim to give European companies more leeway in the market. The new rules, described by Reuters as protectionist, will be unveiled in March.

Blockchain 84

Blockchain AI Rules Agreements 84

PYMNTS

JUNE 9, 2020

The FCC is doing so by looking into how it can speed up the upgrades to existing wireless infrastructure through state and local rules, the release states, in order to provide the high-speed 5G networks which are “critical to expanding economic opportunities and supporting public health and safety in American communities.”

Rules 81

Rules Mitigation Agreements Facilitators 81

PYMNTS

SEPTEMBER 18, 2018

Those reports speculated about the dollar amount of the settlement — and some possible limits to structural changes in agreements between the card giants and merchants — in the wake of a Supreme Court ruling in June that ruled American Express’ business model and anti-steering provisions were legal. If finalized, the $6.2

Settlement 70

Settlement Visa Agreements Rules 70

PYMNTS

JANUARY 5, 2021

The aim of the agreement is to boost access to “transparent, affordable credit — particularly among businesses owned by women, people of color and rural entrepreneurs,” the nonprofit lender noted in a press release. The San Jose-based community development financial institution, or CDFI, on Tuesday (Jan.

Credit Union 79

Credit Union Small Business Underserved Agreements 79

PYMNTS

FEBRUARY 20, 2020

to sign new terms of service agreements, people familiar with the matter told Reuters. companies, is staying in the EU and will keep some of the EU’s famously stringent data protection rules, the General Data Protection Regulation. Because Google is unsure whether Britain will comply with GDPR rules, Google decided to move its U.K.

Privacy 56

Privacy Law Enforcement Laws Rules 56

PYMNTS

APRIL 30, 2018

Four years later, the Commission has reached an agreement on which rules to include in reforms and also how they will be enforced. If it determines the organization has failed to comply with the new rules, the DPA can impose a fine up to €20 million ($24.7 DPAs can suspend or restrict how much data is transferred to the U.K.

Rules 47

Rules Authentication Breach Compliance 47