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The Journey of Payments and Clearing Systems in India

Finextra

RuPay Cards (2012): NPCI launched Indias domestic card payment network, reducing reliance on international schemes and promoting domestic processing. Immediate Payment Service (IMPS) (2010): NPCI launched IMPS, enabling instant 24x7 interbank fund transfers, a crucial step towards ubiquitous real-time payments.

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PayFuture Appoints Sanda Laicena as Group Chief Legal Officer

Fintech Finance

PayFuture , the innovative payments platform connecting global businesses with emerging markets, has appointed Sanda Laicena as Group Chief Legal Officer (CLO). In 2012, Sanda transitioned from traditional banking to the fintech sector, taking on the role of Head of Legal at 4finance Group.

Legal 59
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Enforcing AML/KYC Compliance When Legal Precedent Does Not Apply

PYMNTS

Digital Innovation, Legal implementation. The trouble is that RON services have not been legal in the country until recently. Virginia became the first state to legalize RON services in 2012, but most other state governments did not follow suit until the pandemic made in-person notary services impossible. Washington, D.C.-based

AML 74
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SMBs Ramp Up Legal Fight Against New Virgin Money Owner CYBG

PYMNTS

CYBG, which recently acquired Virgin Money with plans to ramp up small business lending, is facing a heightened legal challenge from small businesses accusing the institution of forcing some small firms into insolvency. The complaint alleges mistreatment of small business borrowers between 2001 and 2012.

Legal 46
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Entrust in Talks to Acquire AI-Powered Regtech Firm Onfido for Over US$400 Million

Fintech News

Established in 2012, Onfido has a strong market presence with over $130 million in annual recurring revenue and a workforce exceeding 500. The potential acquisition is still under regulatory review and must meet legal prerequisites.

Acquirers 117
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FTC, 48 States Launch Massive Antitrust Suit On Facebook

PYMNTS

The FTC complaint alleges that Facebook has engaged in a systematic strategy — including its 2012 acquisition of Instagram, its 2014 acquisition of WhatsApp, and the imposition of anticompetitive conditions on software developers — to eliminate threats to its monopoly, according to the release.

FTC 102
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Age Verification in Latin America 

Segpay

Brazil: A Broad Legal Framework Brazil, the largest country in Latin America with a population of 212 million requires multi-mode verification, combining government-issued ID checks, biometric data, and parental consent, to verify a user’s age. 12,737/2012) : Criminalizes cybercrimes, including those targeting minors.