Europe’s new payments regulation promises much, including free transactions. But do banks need to be forced to do what’s in the best interests of customers and shareholders? The European Union’s revised payment-services directive (PSD2) changes rules governing payments and is intended to, and inevitably will, impact the roles and economics …

Despite obstacles, payment processors and fintechs increasingly are looking at cross-border e-commerce for high-growth opportunities. Go global. That’s the credo an increasing number of payment processors and financial-technology firms subscribe to as technology transforms cross-border commerce from yesterday’s luxury into an attainable option for consumers today. Researcher Talie Baker, a …

In 2015, the Office of the Comptroller of the Currency (OCC) expanded its involvement with financial-services innovation, making innovation a key area of focus. In a recent interview, Beth Knickerbocker, the OCC’s inaugural chief innovation officer, said, “The OCC is saying that it’s okay to innovate responsibly.” And although she …

By Rick Oglesby and Brad Margol A 2015 European Parliament regulation, EU2015/751, caps the fees that a European cardholder’s bank may charge a merchant’s bank (interchange fees) at 0.2% for debit cards and 0.3% for credit cards. Also passed in 2015, and ramping up to full effect in January of …

What are the ingredients of payments modernization in the United States? I suggest there are three: 1. Faster Payments  The race to create a U.S. faster-payments system has begun. What’s not clear is what it will look like at the finish line. The variety of systems being either launched or …

If you want to see a rowdy debate, try gathering a group of colleagues and posing the question of whether or not fintech companies should be regulated. In posing this question to several groups of payments professionals, I have observed that the same arguments, pro and con, keep coming up. …

The Fed will soon release its long-awaited report on faster payments. Will it help the U.S. catch up with other countries? They’ve been slow in coming, but faster electronic payments soon will be arriving in the U.S. The upside lies in the phrase “faster payments,” with various proposals calling for …

By John Stewart@DTPaymentNews The new Trump administration injects much uncertainty into U.S. business, with payments being no exception, but a panel of experts on Thursday said the net result should be positive for at least the acquiring side of the market. “If Hillary Clinton had won, we would have been …

The nascent faster-payments space is still working to tie together fractured payment networks and overcome interoperability issues that make it difficult for most SMBs to take advantage of the touted benefits. As businesses continuously seek new ways to improve efficiency and reduce costs, many companies large and small are working …

With Republicans now in full control of Washington, big changes could be in the offing for laws and regulations affecting electronic payments. But then again, maybe not. Some say he’s a nominal one, but incoming President Donald Trump officially is a Republican, and when he’s inaugurated Jan. 20 he’ll be …