Global Fintech & Digital Assets

DECEMBER 21, 2023

Banks should therefore: maintain processes for handling merchandise returns and merchant disputes in a manner that is fair and matches disclosures provided to consumers; assess fraud risk and implement controls to mitigate those risks; consider operational risks unique to BNPL lending, such as those related to product returns or customer disputes; (..)

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

Clearly Payments

FEBRUARY 8, 2024

Its primary objectives encompass safeguarding consumers, maintaining financial stability, promoting market integrity, preventing fraud and security breaches, and ensuring legal compliance. It mandates disclosure of terms and conditions, error resolution procedures, and limits on consumer liability for unauthorized transactions.

Regulations 87

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 87

Nanonets

MARCH 30, 2023

Electronic collaboration enables efficient error resolution compared to manual methods that rely on untracked emails and phone calls. This results in increased convenience, fewer frustrations and disputes, and a more peaceful working environment. Some technology providers guarantee accuracy.

Automation 52

Automation Transactions Wire Transfer ACH 52