The Payments Association

OCTOBER 28, 2024

In the world of digital payments, fraud is an ever-present threat that continues to evolve, creating serious risks for both businesses and consumers. One of the most alarming trends identified in the report is the continued rise in social engineering scams, which now account for a significant portion of fraud activity.

Scams 88

Scams Push-to-Card Fraud Detection Online and Mobile Banking 88

Fintech News

JANUARY 13, 2025

SEAs young, tech-savvy population, a growing consumer base, reliance on informal financial systems, and supportive government initiatives aimed at financial inclusion serve as robust drivers for long-term growth. Funding has now reverted to pre-pandemic levels, creating a challenging environment for many players in the ecosystem.

FinTech 115

FinTech Cross-Border On-Demand Innovation 115

The Payments Association

MARCH 17, 2025

How the FCA can define and balance acceptable risk in UK payments regulation to support innovation while ensuring financial stability and consumer protection. Exempting these businesses from certain consumer protection rules (where appropriate) could free up resources for innovation and expansion. Why is it important?

Regulations 88

Regulations Risk Stablecoins Payments 88

The Payments Association

MARCH 18, 2025

But these opportunities are accompanied by mounting risks around data governance, security, and regulatory fragmentation. For payments firms, this opens doors to alternative credit scoring, smarter risk assessment, and deeper customer engagementbut also significant challenges around governance and trust. reached $1.1

Finance 88

Finance Payment APIs and Integration Non-Bank Embedded Finance 88

The Payments Association

MAY 3, 2025

She also referenced a broader issue of regulatory inertia: The previous government had plans to revoke the Payment Services Regulations and embed them into FCA rules. For scale-ups like us, weve built regulatory muscle over the yearsour teams understand governance, conduct rules, and operational resilience.

Payment APIs and Integration 88

Payment APIs and Integration Cross-Border Embedded Finance Payments 88

Fintech News

FEBRUARY 27, 2024

These negative developments likely influenced governments across the globe, because the following 12 months saw an extraordinary boom in crypto policy regulation in APAC countries. As we look towards 2024, Japan is anticipated to continue striking a balance between regulatory supervision and innovative development.

APACS 132

APACS Regulations Stablecoins Cryptocurrency 132

The Fintech Times

APRIL 4, 2025

“Im thrilled to join Krakens mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products.” Canadian crypto growth Over the past two years, Krakens Canadian operation has grown significantly.

Security 52

Security Bitcoin ATM Consumer Protection 52

The Fintech Times

MAY 2, 2025

Hosted at the I nstitute of Directors by the Department for Business and Trade , alongside HM Treasury and the Office for Investment, the event gathered international investors, government officials, fintech founders and trade envoys to reaffirm the UKs ambition to lead on the global fintech stage.

FinTech 64

FinTech Stablecoins Legal Framework Central Bank 64

PYMNTS

DECEMBER 28, 2018

The Federal Trade Commission, which was conducting a probe into Facebook and its practices, will be forced to shutter the investigation due to the government shutdown, according to a report by The Washington Post. The commission’s budget ran out on Friday (Dec. And it has to stop in an organized way.”.

Shutdown 51

Shutdown FTC Governance Government 51

Fintech News

FEBRUARY 21, 2024

Amidst this complex backdrop, regulatory efforts, particularly in jurisdictions like Singapore, have taken center stage, offering a glimpse into the future of crypto governance and its potential to shape the industry’s trajectory toward greater safety and integrity. billion (SG$ 32.51

Crime 108

Crime Ransomware Scams Romance Scams 108

Stax

DECEMBER 2, 2024

This trend is poised to continue, with a survey from the consultancy CMSPI finding that cost reduction is the top payments priority for 60% of businesses. In 2024 alone, more than a dozen state legislatures introduced bills related to surcharging and consumer fees generally. What should I look for in a payment technology partner?

Junk Fees 68

Junk Fees Credit Cards Push-to-Card Laws 68

The Fintech Times

MAY 4, 2025

This industry-wide collaboration, coordinated by Open Banking Limited , comes in direct response to the UK Governments call for industry partners to play a role in supporting the effective and timely delivery of cVRPs.

Consumer Protection 45

Consumer Protection Automation Governance Government 45

The Fintech Times

NOVEMBER 27, 2024

Despite the fact that investing in crypto remains unregulated and high-risk, consumers appear to increasingly consider cryptoassets as part of ‘a wider investment portfolio’, leading to 26 per cent dipping into their long-term savings to purchase them.

Regulations 112

Regulations Stablecoins Risk Consulting 112

Fintech News

JUNE 12, 2025

Anastasia Sakharova “OJK mandates that regulated entities implement strong principles of governance, robust risk management processes, cybersecurity resilience, and maintain market integrity. This continuous risk assessment helps flag suspicious patterns before they become compliance incidents. It’s your credibility.

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52

Fintech Review

JULY 24, 2024

Governments need to create supportive regulatory frameworks that balance innovation with consumer protection. Investment in digital infrastructure is crucial for the continued growth of fintech in these regions. As fintech continues to evolve, its impact on emerging markets will likely deepen.

FinTech 105

FinTech Online and Mobile Banking Financial Literacy Financial Inclusion 105

The Payments Association

MAY 16, 2025

AI is transforming compliance in financial services, offering efficiency gains while introducing new risks that demand robust governance. Failure to do so can lead to accusations of unfair treatment, discrimination, or even breaches of consumer protection laws. Artificial intelligence (AI) is no longer a futuristic concept.

Compliance 88

Compliance AI Risk Audit 88

Electronic Transactions Association

JANUARY 16, 2025

ETA supports a uniform policy framework for AI that appropriately preserves the innovation and security AI brings, while ensuring appropriate consumer protection. The CFPB plays an important role in the regulatory framework governing this critical industry.

CFPB 45

CFPB Privacy BNPL Financial Inclusion 45

The Payments Association

OCTOBER 21, 2024

The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation. In 2023 alone, UK consumers lost a staggering £460 million to authorised push payment (APP) fraud. Leadership engagement: The Government has a critical role in preventing re-victimisation.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

PYMNTS

MAY 19, 2020

“First Data is paying $40 million because it repeatedly looked the other way while its payment processing services were being used to commit fraud,” Daniel Kaufman, deputy director of the FTC’s Bureau of Consumer Protection said in a statement.

FTC 66

FTC Federal Trade Commission ISOs Credit Cards 66

The Fintech Times

DECEMBER 21, 2023

“This year we’ve also seen some significant advancement around government involvement in the fintech realm, with FedNow as a prime example,” he says. “As hackers continue to gain access to powerful AI tools, we can expect this trend to gain greater prominence in 2024.

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

Fintech News

FEBRUARY 26, 2024

Yet, despite these challenges, the fintech industry continues to innovate and adapt, seeking new avenues for growth and development. The industry’s attention is increasingly turning towards environmental, social, and governance (ESG) criteria, reflecting a broader societal shift towards responsible and sustainable business practices.

FinTech 143

FinTech Consumer Financial Inclusion On-Demand 143

The Fintech Times

JULY 15, 2024

In a letter , it applauded the CFPB for its 2022 report on BNPL and its continued engagement with industry leaders. We welcome the opportunity to provide feedback to ensure the interpretive guidance increases consumer protection without limiting competition or innovations that provide greater choice and transparency for consumers.”

BNPL 64

BNPL Consumer Financial Protection Bureau (CFPB) CFPB Request for Comment 64

Fintech Review

APRIL 11, 2025

Whether youre an entrepreneur, investor, policymaker, or simply curious, this guide offers a clear, structured overview of the fintech sector as it continues to evolve. Policymakers face the challenge of encouraging innovation while safeguarding consumers and preserving financial stability. Consumer protection is a top priority.

FinTech 52

FinTech Online and Mobile Banking Payment APIs and Integration Cross-Border 52

PYMNTS

NOVEMBER 18, 2016

Is there a way regulators can advocate for workers’ health and safety or consumer protection without negatively affecting entry into the sharing economy and business innovation? Does the sharing economy’s central model require a different sort of government regulation than a traditional business?

Economy 57

Economy Regulations Consumer Protection Continuity 57

The Fintech Times

MAY 30, 2024

Its allure as a fintech innovation hub stems from its strategic Mediterranean location, robust regulatory framework, and government policies that foster innovation. MiCA aims to establish a unified regulatory framework for cryptocurrencies and digital assets across the EU, enhancing legal clarity and consumer protection.

Distributed Ledger Technology (DLT) 59

Distributed Ledger Technology (DLT) FinTech Governance Government 59

Neopay

NOVEMBER 27, 2023

The UK should use open banking to provide retailers with an alternative to card payments and to improve “clunky” P2P bank transfers, says a new government-commissioned review. ” Garner also bemoans the “clunky” nature of P2P bank transfers, which requires users to enter account numbers and sort codes.

P2P 52

P2P Push-to-Card Consumer Protection Visa 52

Fintech Finance

SEPTEMBER 20, 2024

At the time, The Payments Association praised the regulator for seeing the societal benefit of this change and listening to the payments sector regarding its concerns, while stating its intention to continue to push for a threshold of £30,000. This is not enough to ensure robust consumer protection.

Financial Crimes 98

Financial Crimes Crime Rules Payments 98

The Fintech Times

MAY 22, 2024

The Consumer Financial Protection Bureau (CFPB), a US government agency responsible for protecting consumers in the financial sector, has ruled that buy now, pay later (BNPL) lenders must treat consumers as credit card providers do, ensuring they receive the same key protections.

BNPL 64

BNPL Credit Cards Consumer Financial Protection Bureau (CFPB) CFPB 64

The Payments Association

FEBRUARY 14, 2025

European market landscape Europes financial sector spans multiple markets, each governed by local regulations and shaped by distinct consumer habits. trillion, signalling that the consumer looks for convenient, quick ways to make interactions such as a tap of a card, QR scan, P2P transfers.

ISO 20022 100

ISO 20022 Payment APIs and Integration ISOs Central Bank 100

The Fintech Times

DECEMBER 9, 2023

Consumer Duty, a set of rules aimed at enhancing consumer protection in the financial services sector, came into force in July 2023. 2023 saw the introduction of a new Consumer Duty, setting higher and clearer standards of consumer protection across financial services, and requiring firms to put customers’ needs first. .

Consumer 111

Consumer Financial Literacy Regulations AI 111

Neopay

APRIL 25, 2024

The Future Entity will create a structure that promotes further innovation and functionality along with consumer protection. The proposals ask firms to comment on the Future Entity’s recommended structure, governance, and funding for both its interim and longer-term model.

Consumer Protection 52

Consumer Protection Consulting Governance Government 52

Finovate

APRIL 4, 2025

In their report, Float pointed to legacy banking infrastructure and inefficient processes as the culprit, noting that many companies continued to patronize financial institutions that required time-consuming in-person visits and manual reviews, or long settlement times.

Mitigation 59

Mitigation Cross-Border Acquirers Security 59

Neopay

JULY 2, 2024

The FCA recommends that firms adopt a holistic approach, combining quantitative and qualitative data to get a comprehensive view of consumer outcomes. Governance and accountability : Effective governance structures are critical in ensuring that consumer duty principles are embedded within firms.

Consumer 52

Consumer Compliance Regulatory Compliance Assessments 52

Fintech Review

SEPTEMBER 3, 2024

Consumers should also stay informed about new features and security measures in mobile payment solutions to make the most of this convenient payment method. Preparing for the Future of Digital Payments As digital payments continue to evolve, both businesses and consumers must prepare for the changes ahead.

Payments Trends 98

Payments Trends Digital Payments Contactless Payments Cryptocurrency 98

The Payments Association

OCTOBER 14, 2024

Riccardo Tordera, director of policy and government relations at The Payments Association, celebrates the regulator’s decision. In 2023 alone, APP fraud losses amounted to £433 million , a slight decrease from the previous year, yet the volume of fraud cases continues to rise.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

Segpay

MAY 1, 2024

The Act aims to ensure digital services’ continuity, security, and stability, particularly in critical sectors such as finance, by addressing various operational risks, such as cyber threats, system failures, and operational disruptions. Protect Consumer Interests: DORA aims to protect consumer interests.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

Fintech Review

DECEMBER 3, 2024

They aim to ensure consumer protection, foster competition, and promote innovation. Frameworks governing digital assets seek to mitigate risks while enabling the integration of blockchain-based payments. Emerging Payment Technologies Technological advancements continue to reshape the payment landscape.

Payment Solutions 97

Payment Solutions Payments Contactless Payments Online and Mobile Banking 97