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EMA2015 – The impact of payments regulatory changes in Europe

Comments (0) Compliance, International Online Payments, Payments Events, Payments Regulation

The 5th Electronic Money Association conference (EMA) took place in October 2015, in Brussels. The bi-annual event facilitates a two-way conversation between regulators and EMA members on the upcoming legislative changes in European Economic Area (EEA), such as the Revised Directives on Payment Services (PSD2) and Fourth Money Laundering Directive (4MLD). The conference is particularly …...

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Discussing EU security requirements of EBA and PSD2 at EMA 2015

Comments (0) Compliance, International Online Payments, Payments Events, Payments Regulation

During my panel at the 5th Electronic Money Association (EMA) Conference in Brussels about the updated Payments Service Directive (PSD2) provisions on IT security, I shared my views together with other panelists from the European Banking Authority (EBA) and the EMA, on the EBA Guidelines issued in 2014, and the more stringent requirements that will …...

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Mcommerce and ecommerce trends in the global acquiring space

Comments (0) Compliance, Global Acquiring, Global Card Processing, International Online Payments, Payments Events

Ecommerce has exploded across the globe and hit USD 1.3 trillion at the end of 2014, out of which the mcommerce share was 34%. The globalization of ecommerce is no longer simply a concept that is “coming soon”; rapid advancements in commerce platforms and mobile marketplaces seamlessly bring together buyers and sellers from different regions. …...

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Expanding your business: European payments regulation

Comments (0) Compliance, Payments Events, Payments Regulation

During my “European payments regulation” presentation at the Grad School hosted by Payvision during CNP EXPO | Orlando, I talked about the regulatory ins and outs that operating in the European Union has, for those players interested in expanding their business to Europe or to improve their already-existent European activities. Europe has a quite complex …...

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Report: SecuRe Pay recommendations on increasing online fraud

Comments (0) Compliance, International Online Payments, Payments Regulation

Online fraud has increased dramatically over the past decade. Over the years, card schemes have invested millions to reduce the impact of online fraud, implementing additional security mechanisms such as CVC codes and 3-D Secure, and extensive risk scoring systems. Fraud, and fighting it, have become industries of their own. At the beginning of 2013 …...

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Inconsistencies between the European payments legislative proposals

Comments (0) Compliance, Payment Industry Trends, Payments Regulation

When it comes to analyzing the European payments legislative proposals with a potential impact on e-commerce, I have already talked about the risk of fragmentation and an uneven playing field, as well as the implications for the cross-border ecommerce providers. Another risk worth mentioning is the inconsistencies between the different proposals that make it even …...

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Key insights from the Multilateral Interchange Fees Roundtable

Comments (0) Compliance, International Online Payments, Payments Regulation

“MIF pays for the payments industry, it has paid for its innovation and development!” said Gary Munro, Consultant at Consult Hyperion. The relevant question here would be what would happen if we reduce MIF, and what would be the effect on the industry and on the consumer? The Multilateral Interchange Fees Roundtable took place in …...

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Fragmentation & uneven playing field in the proposed European payments legislation

Comments (0) Compliance, Global Card Processing, Payments Regulation

While in theory the imminent European proposed legislation seeks a harmonized market for payments, the reality shows us a fairly fragmented one, mainly due to a lack of cooperation between home and host regulators. To illustrate this point we can look at the proposal for a revised Payment Services Directive (PSD2) pursuing harmonization effects, but …...

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Thoughts from Visa Europe Acceptance Risk Forum

Comments (0) Compliance, International Online Payments, Payments Regulation

Recently, Visa Europe organized its first Visa Europe Acceptance Risk Forum, in order to help establishing a solid community where acquirers and PSPs, regulatory bodies, law enforcement agencies and non-governmental organizations share non-competitive information and issues for the mutual benefit of the global acquiring and payments ecosystem. Speakers and attendees gathered together in London on …...

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E-payments and M-payments security rules; Competition concerns

Comments (0) Compliance, Global Card Processing, Payments Regulation

On 4th and 5th of July, I attended the European Payments Regulation event as guest speaker, both on behalf of Payvision and the European Payment Institutions Federation (aka EPIF). During the Strategy Roundtable I took part in (together with Dag-Inge Flatraaker – Head of Group Payments Infrastructure and Strategy, DNB BANK, Alain Hiltgen – Executive …...

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