Regulatory

Visa, Mastercard Still Locked Out of China | PYMNTS.com

Both Visa and Mastercard posted solid fourth quarter earnings and outperformed analyst estimates, yet the companies are still waiting for approval to do business in China.

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Fighting Fraud in a Faster Payments Landscape 

NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

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Open Banking: Who Owns Your Data?

Who owns your bank data? For years, the answer to this question was straightforward: your bank. But then digitization happened, and with it came big data: Spotify suggested music you might like, Uber plotted your best route home. Slowly, people started to see the power of data to deliver more convenient and personal services.

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Government Shutdown Brings Boom to Pay Day Lenders; Card Issuers Lament

With the politics of the government shutdown looming, furloughed workers face the end of a billing cycle on their household debt.

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Japan, Australia Back X-Border Data Regulation

More than 70 nations are planning to restart World Trade Organization talks in an effort to create a standard set of rules to govern the sharing of eCommerce and cross-border data.

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Fintech: Offshore Regulations and Trends in Asia

Financial technology , or fintech, in the broadest sense of the word involves the use of software in the provision of banking and financial services. The transformative nature of the fintech sector is the manner in which fintech companies use financial technology to disrupt the way traditional financial companies do business.

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PA Department of Banking and Securities: Virtual Currency Is Not “Money”

Typical Virtual Currency Exchanges Do Not Require PA Money Transmitter Licenses The Pennsylvania Department of Banking and Securities (DoBS) just released Guidance declaring that virtual currency, including Bitcoin, is not considered money under the Pennsylvania Money Transmission Business Licensing Law, otherwise known as the Money Transmitter Act.

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CEO Calls for Facial Recognition Regulation

With concerns mounting over the use of facial recognition technology to monitor people and intrude on privacy, Microsoft Chief Executive Satya Nadella said he supports regulation of the technology.

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Congress Wants More on CMMI Alternative Payment Model Development

– The House Committee on Ways and Means is calling on CMS to boost transparency with alternative payment model development in the Center for Medicare and Medicaid Innovation (CMMI), which develops and operates alternative payment and care delivery models for CMS. We have long been advocates for healthcare innovation.

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China’s Internet Censor to Start Regulating Blockchain Firms Next Month – CoinDesk

China’s internet censorship agency has approved a set of regulations for blockchain service providers in the country that will take effect in mid-February.

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The Fed Is Worried About Fintechs and How They’re Regulated

The US Federal Reserve is reluctant to give fintechs, such as alt lenders OnDeck and Kabbage, access to the country’s financial infrastructure, including its payment systems and settlement services, according to Reuters.

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Prospects for New Internet Banks in Korea Grim as Naver, Interpark Drop Out

Prospects of the launch of a new online-only bank in South Korea were dampened this week, as major information and communication technology companies retracted their intentions to enter the banking business.

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