Authorization Due Diligence Payments Institute 
Neopay
JUNE 3, 2024
In recent years, the process of obtaining authorisation from the Financial Conduct Authority (FCA) has become increasingly stringent. As a result, approval rates have been notably low, particularly in the payments sector where rates were as low as 8%. As such, the FCA evaluates both the acquirer and the target firm comprehensively.
Neopay
OCTOBER 10, 2024
The Financial Conduct Authority (FCA) has issued two significant “Dear CEO” letters, marking the implementation of the new requirements for reimbursing victims of Authorised Push Payment (APP) fraud. These letters outline specific expectations for payment institutions, e-money institutions, banks, and building societies.
Fintech News
JANUARY 24, 2024
Each license allows the holder to conduct multiple specific payment services. Data from MAS’ Financial Institutions Directory show that as of August 01, 2022, 231 Money-Changing, 13 Standard Payment Institutions, and 175 Major Payment Institution licenses had been issued.
The Payments Association
OCTOBER 11, 2024
The Financial Conduct Authority’s (FCA) proposed reforms to strengthen consumer fund safeguarding in the payments and e-money sectors. The Financial Conduct Authority (FCA) is consulting on new rules and guidance to strengthen the safeguarding of consumer funds in the payments and e-money sectors.
Fintech News
FEBRUARY 18, 2024
As Sumsub gears up for its participation in Seamless Asia, this partnership serves as a beacon for businesses seeking to navigate the complexities of digital payments verification. With expansion plans across Asia and beyond, dtcpay needed to streamline identity checks to remove friction during onboarding while still adhering to regulations.
PYMNTS
JANUARY 10, 2019
Platform operators and merchants must conduct due diligence related to everything from intellectual property and tariffs to tax laws and FX rates. And taking effect with the dawn of 2019, the Chinese government has put in place new initiatives tied to cross-border trade flows done by digital means into several markets. and elsewhere.
Neopay
JUNE 27, 2024
This includes understanding the different types of licenses available, such as payment institution (PI) licenses or electronic money institution (EMI) licenses. Reporting suspicious activity: Establish clear procedures for reporting suspicious activity to the relevant authorities.
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