article thumbnail

Regulator calls for feedback on plans to remove the UK’s £100 contactless transaction limit

NFCW

The UK’s Financial Conduct Authority (FCA) has begun a public consultation on proposed plans to either significantly increase or remove altogether the current 100 (US$129.83) limit on contactless card transactions. The FCA has set out its thinking in an engagement paper on contactless payment limits.

article thumbnail

What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework

Fintech News

The Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) will implement the Shared Responsibility Framework (SRF) for phishing scams on 16 December 2024. FIs have a six-month transition period to comply with this new duty before it becomes enforceable under the SRF.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Singaporeans Can Soon Make Contactless Payments Even During Bank Outages

Fintech News

Following discussions over the past year, the Monetary Authority of Singapore (MAS) , together with NETS Group and participating banks, is set to launch stand-in capabilities for NETS point-of-sale terminals. The feature will allow payments to go through, up to a transaction limit, during service disruptions.

article thumbnail

Real-Time Payments Are Soaring In The U.S.

Tom Groenfeldt

By Tom Groenfeldt Follow Author Share Save Comment Innovation Enterprise Tech Real-Time Payments Are Soaring In The U.S. Follow Author Jul 17, 2025, 03:08pm EDT Share Save Comment Close up of network data flowing on black background. By Tom Groenfeldt , Contributor. Forbes contributors publish independent expert analyses and insights.

article thumbnail

Navigating AML obligations in the age of virtual IBANs

The Payments Association

Regulatory reviews from the Bank of Italy, UIF, and the European Banking Authority (EBA) have identified key shortcomings in the management of vIBANs. Currently, large enterprises are the primary users, while small businesses and consumers have shown limited adoptionlikely due to unclear policies on customer eligibility and risk exposure.

article thumbnail

Payments regulation roadmap: Q3 2025​

The Payments Association

Legal issue/risk Next steps/action required Legal issue/risk: The FCA has the authority to take regulatory action, issue fines, or impose constraints on firms that breach impact tolerances or fail critical resilience testing. Stress test resilience against 24/7 availability standards.

article thumbnail

Ujjivan Small Finance Bank introduces international RuPay select debit card

Finextra

Home Announcements Payments Ujjivan Small Finance Bank introduces international RuPay select debit card External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author.