A Submission for HMT from Tony Craddock, Director General of The Payments Association (TPA) and Vision Engagement Group member. Working with UK Finance and Innovate Finance we have adapted the
INNOVATE. EDUCATE. ACCELERATE. Tackling fraud and money laundering head on through industry collaboration and adopting new technology. Financial Crime 360 is a conference and exhibition that helps the full finance
The PAY360 Awards celebrates innovation and collaboration by recognising companies that have made significant advances in how we pay today. Now in its 19th year, The PAY360 Awards is
Get the 360 experience with a delegate pass. Our mantra: We do not choose speakers who read from a PR script. We focus on programming complex challenges into fresh and
Conversations around a digital pound are growing louder as the weeks roll by. With use cases popping up around the globe, is it time Britain followed suit? In a similar fashion to the way coins largely made way for banknotes, digital currency is the next natural progression in the evolution of money, whether consumers like the idea of it or not.
In 2021, the Financial Conduct Authority (FCA) Business Plan made clear its intent to apply a more intensive assessment with greater scrutiny of financial information and business models. This is being particularly felt in the payments space.
On 30 October 2023, HM Treasury (HMT) issued its long-awaited policy document on the regulation of fiat-backed stablecoins in the UK. Framed as “Phase 1” of the UK’s approach to cryptoasset regulation, HMT’s paper was quickly followed by discussion papers from the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England (BOE) on the future regulatory approach to such stablecoins.
Although there are a number of steps to go before the stablecoin regime comes into effect (with implementation anticipated in 2025), the 2023 papers give helpful insights into the direction of the new regime.
INNOVATE. EDUCATE. ACCELERATE. Tackling fraud and money laundering head on through industry collaboration and adopting new technology. Financial Crime 360 is a conference and exhibition that helps the full finance
The UK government has taken a significant step towards clarifying its stance on the regulation of cryptoassets, digital settlement asset firms, and fiat-backed stablecoins by publishing key documents outlining their responses to recent consultations.
The PAY360 Awards celebrates innovation and collaboration by recognising companies that have made significant advances in how we pay today. Now in its 18th year, The PAY360 Awards is the
On Thursday last week, The Payments Association presented the launch of its latest report ‘Navigating the rising cost of living: Payments innovation as a game-changer’ at Parliament to a range of representatives from the House of Commons, House of Lords, and industry bodies including…the HMT, the FCA, BoE and the PSR.
The Payments Association welcomes the opportunity to contribute to the BoE and HMT Consultation Paper “The digital pound: a new form of money for households and businesses?”. The community’s response
INNOVATE. EDUCATE. ACCELERATE. Tackling fraud and money laundering head on through industry collaboration and adopting new technology. Financial Crime 360 is a conference and exhibition that helps the full finance
Get the 360 experience with a delegate pass. Our mantra: We do not choose speakers who read from a PR script. We focus on programming complex challenges into fresh and
The Payments Association’s Riccardo Tordera and Robert Courtneidge examine what the latest government consultations could mean for the UK payments sector.
With the UK government launching a second phase consultation on the future of cryptoassets, Max Savoie and Martin Dowdall of Sidley Austin examine what this means for firms.
This Regulations 101 training course will cover payments regulations and frameworks (e.g. SEPA, PSD2, IFR, Open Banking, AML and other financial crime related regulations) as well as privacy and security
This Regulations 101 training course will cover payments regulations and frameworks (e.g. SEPA, PSD2, IFR, Open Banking, AML and other financial crime related regulations) as well as privacy and security
The PAY360 Awards (previously the Emerging Payments Awards) celebrates innovation and collaboration by recognising companies that have made significant advances in how we pay today. Now in its 16th year,
The Payments Association welcomes the opportunity to contribute to HMT “Economic Crime and Corporate Transparency Bill”. The community’s response contained in this paper reflects views expressed by our members and
Payment firms should be prepared for a higher cost of compliance when the Financial Services and Market Bill enters into force in 2023.
A major report has revealed the key financial crime and anti-money laundering (AML) compliance challenges facing financial services firms in 2022. Produced by leading governance, risk, and compliance consulting firm fscom, the
Rather than building a single global rulebook for payments, regional rulebooks are the better approach in the medium term, according to industry participants.
The exponential growth of the eCommerce sector in recent years has fueled demand for easily accessible consumer credit. One of the fastest growing trends in the online payment sphere has been that of Buy Now, Pay Later schemes, with transactions using this payment method growing by 292% between 2018 and 2020, and providers attracting $11bn in venture capital funding in 2021 alone.
Not that long ago, over half of EPI’s member banks opted out, forcing the remaining members to give up on their efforts to rival Visa and Mastercard dominance in the European market. Local payments expert Frank Breuss argues this may turn out in Europe’s favor, enabling to fill in foundational gaps in the payments industry.
Fintech regulation in Europe shows no signs of slowing. So what are the main challenges and frameworks fintechs should be aware of to ensure their future success.
Buy Now, Pay Later is a rapidly growing trend in a number of market sectors, including retail, entertainment and travel. During the COVID-19 pandemic, use of the payment scheme increased fourfold in the UK, to the tune of £2.7 billion in transactions.
In this article, I’ll give a brief overview of how BNPL works and the industries where it’s most prevalent, before discussing the recent regulatory changes that have been enacted and what they mean for the future of this popular payment method.
The Payments Association welcomes the opportunity to contribute to the ‘Managing the failure of systemic digital settlement asset (including stablecoin) firms’ Consultation by HM Treasury. The community’s response contained in
The Payments Association welcomes the opportunity to contribute to HMT “Regulation of Buy-Now-Pay-Later Consultation Response”. The community’s response contained in this paper reflects views expressed by our members and industry
PSD3 – the next instalment of the Payment Service Directive
HM Treasury (HMT) has published a response to its previous consultation on amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the ‘MLRs’.
Director of Business Development at Bottomline, Marcus Hughes writes for PaymentExpert on the evolving landscape for crypto regulations.
Tune in to hear our expert panel explore the risks of cross-border payments, discuss how to achieve more efficient and commercially viable compliance processes, and provide a ‘crystal ball’ forecast on regulatory and market opportunities.
Speakers include:
Nkosi Moyo, Head, Global Payments – Mobile Sales, Crown Agents Bank
Robert Wade, Global Head of Cross-Currency Solutions, J.P. Morgan
Livia Benisty, Global Head of AML, Banking Circle
Chryssi Chorafa, Founder & CEO, StarLiX
Kazım Rıfat Özyılmaz, Co-Founder, Arf
SCA, or Strong Customer Authentication, is not a topic exclusive to the EU (or the PSD2, for that matter). Today, we can see it popping up in financial conversations across the globe. And even though global SCA regulations all share the same stigma of ‘expensive’ and ‘inconvenient’, the need to implement SCA and increase the security level of our authentication systems is as relevant and urgent as ever before. Read on to see what is brewing in the world of payment authentication across the US, Asia, Europe and the Nordics.
The Payments Association welcomes the opportunity to contribute to HMT “Regulation of Buy-Now-Pay-Later Consultation”. The community’s response contained in this paper reflects views expressed by our members and industry experts
The Payments Association welcomed the opportunity to respond to the HM Treasury’s consultations earlier this month, including: Call for Evidence (CfE) – review of the UK’s AML/CFT regulatory and supervisory
The Payments Association welcomed the opportunity to respond to the HM Treasury’s consultations earlier this month, including: Call for Evidence (CfE) – review of the UK’s AML/CFT regulatory and supervisory
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