The Consultation Paper sets out the proposed amendments to be put in place under the Payment Services Regulations 2019 and various notices issued by the MAS in order to operationalize the amendments introduced by the Amendment Act. The Consultation Paper...
Grandfathering provisions to exempt specific entities from the amendments to the PS Act for six months will be introduced via the forthcoming Payment Services (Exemption for Specified Period) Regulations 2023. Entities looking to rely on the grandfathering provisions will need to comply w...
Addressing risks associated with AML/CFT The Bill proposes to expand the definition of cross-border money transfer services to cover entities in different countries. Depending on the reputational risks and factors surrounding ML/TF, licenses subject to MAS' AML/CFT regulations are to be acquired. I...
PayPal; (b) the transfer of such Card Information is compliant with the latest version of the Network PCI-DSS Requirements; and (c) the transfer of such Card Information is allowed under the applicable Network Rules, and any applicable laws, rules or regulations (including data protection laws...
Compliance and fraud protection are fundamental to both your business operations and your brand’s reputation. Enterprise merchants handle up to millions of transactions each year, and as a result, fraud regulations which are too stringent can reject legitimate transactions, pushing potential customers ...
these regulations are expected to help payment institutions back on track, thus facilitating the sustainable and healthy development of the payment service market. Surely the life cycle of the third-party payment industry will reach the...
In some cases, IVR systems can be a target for hackers due to how they collect and store customer data like credit card details. Consequently, there’s a maze of compliance regulations you have to fulfill to have an IVR payment system in place. ...
Pricing –prices for Paysera services and transactions confirmed by Paysera in accordance with the established regulations. Client –a business client who has concluded the Agreement on Paysera services. Client’s Representative –the executive manager of the Client, or the Client’s other representative...
and other financial institutions. These groups of entities are connected by an electronic network through which funds are transferred under the guidance of a shared set of regulations and guidelines. The network itself is maintained and operated by a governing organization, which is often an associati...
January 8, 2019 No Comments News, Travel QR Code payment now available on the Chengdu MetroChengdu’s metro system has just launched a new payment service, allowing commuters to pay for travel by scanning their mobile phones using a QR code. To operate the service, users must download the ...