The latest edition of Oaklen Consulting's industry watch highlights the supervision of payment systems in Europe.
Slide
The latest edition of Oaklen Consulting's industry watch highlights the supervision of payment systems in Europe.
The ACPR is committed to explaining to telephone operators that some of their activities constitute payment services for which they come into possession of funds (premium rate services, etc.) and that, as such, they are required to comply with the legislation and therefore adopt an ad-hoc status. It is conceivable that these clarifications will lead to sanctions for those who do not comply.
As a result of COVID 19 and the insolvency situations it can create, the FCA is updating the best practices for payment service providers involved in pawnbroking, leasing and installment payments. This demonstrates how credit risk is increasingly a consideration when providing "value-added" payment services, and suggests that regulation in this area will be strengthened.
The European Central Bank would like to standardize the various payment method oversight frameworks that it has had in place for the past ten years and replace them with a single framework that "erases" the specificities of each payment method and makes it possible to address the risks without prejudging the new paths that have been made possible by the hybridization of payments (card, instant payment, payment initiation, RTP, etc.).
In a logic of digitalization of the economy, the European Union recognizes the value of software for financial institutions by modifying their amortization principles so that investments in software become less penalizing in terms of capital requirements. Technology is opening up ever more opportunities for innovative financial services.
.png)
.png)
.png)
