The Payments Association

FEBRUARY 10, 2025

Verifying the legal identity of vIBAN end users through documentation and independent data sources Gathering information on the intended use of the vIBAN, including its role in the customers financial activities, whether for payment reconciliation, invoicing, or another purpose.

IBAN 88

IBAN AML Master Account Due Diligence 88

PYMNTS

NOVEMBER 23, 2018

With the new policies, changes include lowering the transaction limits on the sale of store-branded gift cards. In those cases, scammers have reportedly impersonated tax agents looking for payments for purportedly owed taxes or grandchildren needing funds to get out of legal difficulties.

Federal Trade Commission 62

Federal Trade Commission Scams FTC Transaction Limits 62

PYMNTS

AUGUST 7, 2020

That will include allowing banks to set various transaction limits. Participating banks will have the ability to set lower value limits for their transactions … and the ability to specify certain conditions under which transactions would be protected, say by an account number,” Montgomery said.

Instant Payments 75

Instant Payments Fed FedNow Interbank Settlement 75

Stax

AUGUST 22, 2024

Regulatory compliance risk To maintain the integrity of financial transactions and to protect cardholder data, any company dealing with payments must strictly adhere to laws and regulations. Regulatory compliance failure can have a negative impact on reputation, large fines, and even legal action.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

EBizCharge

NOVEMBER 12, 2024

This separation of funds helps establish a clear boundary between personal and business finances, which is crucial for legal, tax, and organizational reasons. This separation is essential in maintaining the legal protections that keep personal assets safe in case of lawsuits or debts incurred by the business.

Accounts 52

Accounts Debit Card Credit Cards Payroll 52

Stax

JUNE 27, 2024

Global ACH is available but only for bank-to-bank networks Wire transfers have no geographic limitations. Transaction limits and restrictions Various modes of payment have different limits and restrictions on the amount of money you can send per transaction and the number of transactions you can carry out per day.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

PYMNTS

JUNE 9, 2020

Rising frustration over online payment transaction limits , security and data privacy have begun to crop up now that consumers and merchants are settling into the new normal, showcasing just how rapidly the banking world is changing.

Privacy 52

Privacy Regulations Online and Mobile Banking CCPA 52