Remove Consumer Protection Remove Economy Remove Legal Framework
article thumbnail

Reflecting on 2024: A transformative year in payments regulation

The Payments Association

2024 reshaped payments with instant payment mandates, crypto regulations, and enhanced consumer protection driving innovation and security. In 2024, payments regulation underwent seismic shifts, with reforms spanning fraud prevention, digital innovation, and consumer protection, collectively redefining the industry’s future.

article thumbnail

Navigating legal uncertainty: How the Digital Assets Bill could impact PSPs

The Payments Association

Under the Bill, PSPs will be required to review their obligations under this evolving legal framework to confirm their ability to deliver on redemption guarantees. This could lead to disputes over ownership, custody, and liability in cases where the legal framework is yet to be fully tested.

Legal 88
article thumbnail

Global Fintech Forum 2025: Starting UK Fintech Week with a Bang

The Fintech Times

Kicking things off, Economic Secretary to the Treasury Emma Reynolds, said: “Financial services is the jewel in the crown of the UK economy and has a critical role to play in the government’s growth mission.” ” With a morning of global stellar speakers, it was easy to see what that growth mission looked like.

FinTech 64
article thumbnail

Oman’s Fintech Future: A Market on the Rise

The Fintech Times

Despite starting later in the oil and gas game compared to its Gulf Cooperation Council (GCC) neighbours, Oman has successfully transformed its economy, aligning with the broader development trajectory of the Arabian Gulf region.

FinTech 64
article thumbnail

 Is Your Business Ready for DORA?

Segpay

DORA entered into force on January 16th, 2023, and its legal implementation deadline is January 17 th , 2025. Its legal framework is designed to enhance the operational resilience of all digital service providers, including payment service providers (PSPs), that operate in the European Union (EU).

article thumbnail

What are the Biggest Challenges Fintechs Need to Overcome to Ensure Meaningful Social Impact?

The Fintech Times

Fintechs operate in a fast-moving environment, but social impact often intersects with time-consuming areas such as consumer protection and data privacy. Ensuring these groups can fully participate in the digital economy is essential to creating an inclusive financial ecosystem.

FinTech 59
article thumbnail

An Overview of AI Regulations in Financial Services Around the World

Fintech News

So, how can the economies in this region harness the benefits of AI while ensuring ethical use, data security, and fairness? Additionally, the legislation emphasises consumer protection by requiring financial institutions to ensure that AI-driven decision-making does not lead to adverse or unjust outcomes. the EU and APAC.

AI 120