Report: EU antitrust investigators are examining Apple Pay
Apple Pay “has caught the eye of EU antitrust investigators, who have asked payment companies for feedback on the service,” regulatory risk specialist MLex reports... More
European Union (EU)
EBA sets new Strong Customer Authentication deadline
The European Banking Authority (EBA) has issued a new Opinion that provides the European payments industry with an EU-wide additional 15 months to comply with strong customer authentication (SCA) requirements for online ecommerce transactions... More
Revolut lets customers pre-authenticate their contactless card as they approach the SCA transaction limit
UK-based neobank Revolut has implemented a Strong Customer Authentication (SCA) system that lets customers use their mobile banking app to authenticate their contactless card as they get close to reaching the new contactless transaction limit, avoiding the risk of having their card declined when they next attempt to make an in-store purchase... More
Danish consumer council raises Apple Pay competition concerns
Apple Pay accused of unfair competition in Denmark — The Copenhagen Post — “The Forbrugerrådet Tænk consumer council is not sure that Apple Pay is operating in compliance with Danish law, and it has asked the Concurrence og Forbrugerstyrelsen competition and consumer agency to investigate… ‘We have reported Apple Pay because we believe this new payment app is in violation of our competition law and the EU rules governing this area,’ Forbrugerrådet Tænk chairperson Anja Philip told DR Nyheder.”
European Central Bank calls for Europe-wide P2P mobile payments by end of 2017
Consumers will be able to make peer-to-peer (P2P) mobile payments across Europe using only the payee’s mobile phone number which will act as proxy for their international bank account number (IBAN) by the end of 2017, the European Central Bank (ECB) has revealed... More
EU calls for comment on future of payments
The European Commission has published a green paper assessing the current card, internet and mobile payments landscape and is asking stakeholders to contribute their thoughts on how to ensure a modern, integrated payments environment can be implemented across Europe. More
