It would appear the psp's don't seem to think there will be...

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123 Posts.

04/06/15

10:17

Post #: 15409888
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Originally posted by stakx ↑

Yes People need to read this correctly......

The legislative framework for retail payments in the European Union (EU) has seen important developments in recent months, such as the advancements in the negotiations for the revised Payments Services Directive (PSD2) and the finalisation of the EU Regulation on Interchange Fees (IFR). The European Commission, Council and Parliament are currently in the final negotiation stages of the PSD2 and once the Directive is agreed upon, the EBA will approach the industry and other interested parties to gather their input at an early stage of the regulatory development process.

The PSD2 mandates for the EBA are expected to include requirements to improve operational and security requirements for payment services. The EBA will develop this work in close cooperation with the European Central Bank (ECB), through the Forum for the Security of Retail Payments (SecuRe Pay) that the ECB and the EBA are chairing jointly.

As the security requirements under the PSD2 are not expected to come into force until 2018/9, the EBA had issued, on 18 December 2014, its final Guidelines on the security of internet payments. The requirements are a response to increases in fraud that regulators have observed with this particular payment method. The Guidelines represent the first output of the cooperation between the EBA and ECB on retail payments; have taken two years to develop; are applicable as of 1 August 2015; and will apply until the PSD2 requirements come into force in 2018/9.
Looking good ISX

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It would appear the psp's don't seem to think there will be significant enforcement of the new rules and/or penalties otherwise they would have acted a lot faster don't you think?

ISX Price at posting: 16.0¢ Sentiment: None Disclosure: Not Held
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It would appear the psp's don't seem to think there will be...

Top Stories

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Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Venture to sniff out high-grade REE targets at Jupiter project, WA

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

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