The Payment Systems Regulator (PSR) has published a policy statement containing its final decision on remedies for its card-acquiring market review, with three specific directions to put them into effect. The specific...more
Due to its concerns that card-acquiring services might not be offering value for money for merchants, the PSR decided to conduct a comprehensive review of the card-acquiring sector focussing on the impact of competition and...more
The explosive growth of “buy now pay later” (BNPL) products is a staple of the fintech news cycle. The model, which gained popularity with point-of-sale financing options offered by straight play providers such as Affirm,...more
A leading online payments system platform that offers point-of-sale (POS) financing reports it received a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) for allowing educational...more
Card-acquiring services: PSR interim report - The Payment Systems Regulator (PSR) has published its interim report on the supply of card-acquiring services. The PSR's market review follows concerns that the supply of...more
On December 30, 2019, the California Department of Business Oversight (DBO) announced two actions regarding companies offering unregulated, point-of-sale financing to California residents. In the first action, the DBO...more
Last week, the defendant filed its answer brief in Bratton v. Sisters of Charity of Leavenworth Health System, Inc., an appeal now pending before the Montana Supreme Court involving a challenge to the defendant’s use of...more
The payment market in Israel and around the world is marching toward revolution: Facebook announced the launch of its digital currency, the Libra; Le’umi Bank entered into agreements with 400 businesses for acceptance of...more
With three new filings in February 2019 against household names like Macy’s, Best Buy, and Lululemon, Vindolor, LLC—a non-practicing entity—has expanded its contactless “tap-to-pay” point-of-sale patent litigation assault to...more
A new standard published by the Payment Card Industry Security Standards Council (“PCI SSC”) may make it easier and less costly for retailers to take advantage of lower cost PIN based transactions in card present scenarios....more
Understanding the payments regulatory environment in China—both the existing regime and pending developments—is essential for companies engaged in cross-border payments activities (particularly non-financial institutions). At...more