finextra

EU Parliament Passes New Rules on Cross-border Payment Charges

European parliamentarians have voted in favour of new rules which will force banks to slash fees on cross-border euro payments between EU countries that are in the euro zone and those that are not. The plenary adopted by 532 votes in favour, 22 against and 55 abstentions, to push through the changes before the end […]

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Which? Calls for Appointment of New Regulator to Champion Access to Cash

Consumer champion Which? is calling on the Government to appoint a regulator to protect access to cash, as a combination of bank branch and cashpoint closures dries up the supply of notes and coins in small communities.

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Cheques to Be Excluded From UK’s New Payments Architecture

Once again cheques in the UK are facing their demise, this time as a consequence of their being excluded from the New Payments Architecture project, or “NPA”. This time it will be a slow and lingering death over a 10-15 year period, as investment is channeled into other services and the cheque service withers on […]

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Hannah Nixon to Leave the Payment Systems Regulator

Source: Payment Systems Regulator The Payment Systems Regulator has announced today that Hannah Nixon will be standing down as Managing Director of the Payment Systems Regulator in April.

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ECB’s Cœuré Touts Faster Payments to Promote Financial Inclusion

Boosting financial inclusion in developing markets will require work to broaden access to payment services, possibly through the creation of infrastructure modelled on Europe’s new Target Instant Payment Settlement (Tips) and, in the longer term, the introduction of central bank digital currencies (CBDCs), says ECB executive board member Benoît Cœu.

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Payments Body Calls for Digital IDs to Tackle Financial Crime

UK financial institutions and payment processors should collaborate on the creation of a national digital identity scheme to face down the threat posed by money laundering and payments-related financial crime, according to a new report published by the Emerging Payments Association (EPA).

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Ecosystem Must Evolve to Make Euro Instant Payments a Success

Real-time euro payments are already here – but there’s wider work to do to serve corporate needs, says Thomas Egner, secretary general, Euro Banking Association. Speed, as any racing driver will tell you, is not necessarily synonymous with success. A racing car, for example, is a masterpiece of technology.

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Mexican Neobank Albo Raises $7.4 Million

Mexican neobank Albo has raised $7.4 million in Series A funding as it moves to exploit new rules aimed at regulating the fintech sector and using digital banking services to boost financial inclusion.

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Australian Payments Council Consults on Digital Payments

The Australian Payments Council is calling for input from businesses, NGOs, government and consumers on what’s needed to support payments in the digital economy of the future.

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Innovation About to Overtake Regulation – Fuelled by Regulation

For several years, the narrative in financial technology has essentially argued, The post-crisis period and its focus on heavy regulation is over. Enter Innovation.

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How Collaboration in the Cloud Can Help Banks Innovate

One of the biggest problems banks face today is innovating the new services and products expected by their customers. In the digital age, which is dominated by the likes of Google, Apple, Facebook and Amazon (GAFA), consumers demand convenience in all aspects of their lives, so the imperative to innovate has never been so pressing.

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Fit Pay to Ship Bitcoin Payment Device

Source: Fit Pay Fit Pay, Inc., a wholly owned subsidiary of Nxt-ID, Inc. (NASDAQ: NXTD), today announced that it will begin shipping initial orders of Flip, a new contactless payment device that enables Bitcoin holders to use the value of their currency to make contactless purchases at millions of retail locations.

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