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Navigating the FCA’s Consumer Duty: Key insights and action steps for payments firms

The Payments Association

The FCA’s Consumer Duty and how payments firms must prioritise consumer outcomes in their operations. It represents a major regulatory shift, requiring firms to enhance governance, fair value assessments, and customer support, with significant compliance challenges. Why is it important? What’s next?

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CFPB Proposes to Regulate Large Digital Wallet and Payment App Providers

Global Fintech & Digital Assets

The proposal would subject certain large non-bank companies offering wallet and payment services to federal regulatory oversight on par with banks and credit unions. It follows other rules related to consumer reporting , consumer debt collection , student loan servicing , automobile financing , and international money transfers.

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Credit Card Surcharges: What Are They, and How Do They Work?

Stax

This is good news because it means you won’t have to inflate your base prices to cover payment processing fees. It requires stringent adherence to regulatory guidelines and card network rules, from surcharge caps to disclosure requirements. They also owe assessment fees to card networks for making use of their infrastructure.

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How Do You Set Up Automated Billing?

EBizCharge

Improved accuracy Automated billing software is programmed to follow predefined rules and procedures consistently, minimizing the risk of human error inherent in manual billing processes. The variety of payment terms you offer. Make the necessary preparations Before setting up automated billing, it’s crucial to prepare the groundwork.