The Fintech Times
JULY 5, 2024
Members also discussed the prudential implications of banks as potential issuers of tokenised deposits and stablecoins. The principles would supersede the current guidance on outsourcing in financial services with respect to the banking system. The consultation will be published later this month.
PYMNTS
JULY 9, 2020
Under the FCA’s new rules, payment providers and electronic money issuers must maintain records of all funds received and maintain a “safeguarding account” for customer money, the news outlet reported. .
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PayHawk
APRIL 18, 2023
Address Verification Service (AVS) A fraud prevention tool that checks the billing address provided by the cardholder against the address on file with the card issuer. Approval Code A code provided by the payment processor to indicate that a transaction has been approved.
Basis Theory
OCTOBER 1, 2024
Third-Party Service Provider ( TPSP or "service provider") refers to an entity other than the Merchant, Acquirer, or Issuer involved in storing, processing, or transmitting card data. These could include processors, gateways, and tokenization platforms like Basis Theory.
Global Fintech & Digital Assets
NOVEMBER 7, 2023
Issuance of Tokenised Securities: Intermediaries issuing Tokenised Securities remain responsible for the arrangement, regardless of outsourcing to third party service providers.
Nanonets
MAY 7, 2024
Outsourced Reconciliation Some businesses choose to outsource their expense reconciliation tasks to third-party service providers. Outsourced reconciliation services typically involve sending expense data to a specialised firm or accounting service, which handles the reconciliation process on behalf of the business.
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