The European Commission has agreed to accept Apple’s proposal to open up access to the iPhone’s NFC functionality via Host Card Emulation (HCE) — with modifications that will also make it possible for iPhones to support person-to-person and merchant transactions via SoftPOS... More
The digital euro should be distributed via apps, digital and physical cards and other form factors that enable consumers to make both NFC and QR code in-store payments with the proposed central bank digital currency (CBDC), according to a European Central Bank (ECB) report... More
Jamaica is to pilot a central bank digital currency (CBDC) over the course of this year and begin rolling it out in 2022, the country’s minister of finance Nigel Clarke has revealed during a budget speech... More
The UK’s Financial Conduct Authority (FCA) is proposing to increase the limit for single contactless payments in the country from £45 (US$62) to £100 (US$137) and the limit for cumulative contactless transactions from £130 (US$179) to £200 (US$274)... More
The UK’s Financial Conduct Authority (FCA) is to tighten up its regulations “to ensure payments firms are adequately protecting customer funds” amid concerns that the impact of Covid-19 will affect their financial viability... More
A new amendment to the Swedish Payment Services Act means that online merchants must now present non-credit options ahead of any options that involve the consumer taking out credit... More
Opinion of the European Banking Authority on the elements of strong customer authentication under PSD2 — European Banking Authority — “In order to avoid unintended negative consequences for some payment service users after 14 September 2019, CAs [national competent authorities] may decide to work with PSPs [payment service providers] and relevant stakeholders, including consumers and merchants, to provide limited additional time to allow issuers to migrate to authentication approaches that are compliant with SCA [strong customer authentication].”
The PSR confirms how it will monitor and enforce new EU rules on access to payment systems — Payment Systems Regulator — “The PSR will monitor and enforce particular rules, covering requests by payment service providers (PSPs) to get access to payment systems. Under these rules, banks and payment system operators must treat the requests in an objective, proportionate and non-discriminatory way.”
Mastercard is planning to apply to become a payment service provider (PSP) in China this year but is still deciding whether to do so alone or with a partner, according to Reuters... More
Istituto Centrale delle Banche Popolari Italiane (ICBPI) is to establish an instant payments solution in the first quarter of 2017 in partnership with Danish payment services provider Nets... More
CUA, Australia’s largest customer-owned financial institution, has become the first in the Asia Pacific region to launch an NFC payments service that makes use of host card emulation (HCE) technology... More
Mobile payments will represent 15% of all card transactions by 2013, and will overcome card volumes within 10 years if growth continues at the same rate, according to the World Payments Report 2011. More