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Visa Brings Smarter Pay-by-Bank with Built-In Consumer Protections to the UK Market

Fintech Finance

Visa A2A introduces an easy and intuitive experience for consumers, allowing them to easily manage their bills and subscriptions through their bank app. This will effectively provide a similar level of protection typically associated with card payments, so consumers can get their money back if there is an error.

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Regulatory Challenges in Fintech: Balancing Innovation and Consumer Protection

Fintech Review

However, this rapid growth brings significant regulatory challenges, primarily in balancing the need for innovation with the imperative of consumer protection. Consumer protection is not just a regulatory requirement : it is a fundamental right that must be safeguarded amidst advancing technology.

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Decoding the FCA’s Safeguarding reforms: Practical steps for payments and E-money firms

The Payments Association

The FCA’s proposed safeguarding reforms for payments and e-money firms, aiming to enhance consumer protection and operational compliance. The reforms ensure robust safeguarding practices, bolster consumer trust, and address risks like fund shortfalls during insolvency. Why is it important?

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Visa Boosts Consumer Protection With Smarter Bank Transfer Payments

Fintech Finance

Open industry model, fostering collaboration Visa A2A will be based on an open system available for all eligible banks and other industry partners to join, and introduces standards, rules and a dispute management service to help protect consumers and further modernise open banking-based payments.

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Crypto Firms in Indonesia Must Rethink Their Compliance Now, Or Risk Losing Out

Fintech News

With OJK taking the regulatory reins and the Travel Rule now in force, crypto firms in Indonesia must evolve fast or risk falling behind in global markets, regulatory approval, and user trust. ” What happens after Travel Rule data is exchanged is equally critical.

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Top regulatory priorities for the payments sector

The Payments Association

These changes aim to enhance consumer protection by ensuring that customer funds are adequately safeguarded. The FCA is introducing phased safeguarding rules, with interim measures strengthening existing regulations and final requirements aligning with the Client Assets (CASS) framework.

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MAS to Launch Revised Fair Dealing Guidelines for Greater Consumer Protection

Fintech News

The guide simplifies the financial planning journey for consumers, providing easy to understand and implement rules of thumb for individuals at different life stages. This includes advise on spending no more than 15% of their take home salary on insurance protection.