A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

Search Payments News

December 22, 2020

On the web

Apple Reminds Developers About New EU Payment Policies Starting December 31 – 9to5Mac


“New legislation in the EU is set to take effect on December 31 that will impact online purchases. Apple has given a heads up about how developers will be impacted and what to do to prepare for the changes. The European Union’s Strong Customer Authentication (SCA) legislation kicks in on December 31, 2020, and means developers who sell to users in Europe will need to check some settings/make some changes.”

June 3, 2020

On the wires

Ingenico’s New SCA Accelerator Suite Speeds up Compliance

“Ingenico Group, the global leader in seamless payments, today unveils its SCA accelerator suite to help online businesses remain compliant, innovate and better control their data. The suite will bring all of Ingenico ePayments’ expertise together to help online businesses improve their performance and facilitate the implementation of Strong Customer Authentication (SCA), due on 31 December 2020. The SCA Accelerator Suite from Ingenico utilizes the latest versions of 3D Secure, ensures businesses are compliant with The EU Second Payment Services Directive (PSD2), offers authentication routing, ensures the appropriate data collection and streamlines mobile UX.”

November 8, 2019

On the web

October 4, 2019

On the web

European Payments Industry Group Seeks Additional Extension on PSD2-SCA

Mobile Payments Today

“he European Association of Payment Service Providers for Merchants, which represents industry members in 16 countries, is urging regulators to provide a longer extension to the PSD2-SCA deadline amid concerns that many sectors will face significant disruption without additional time.  The group sent an open letter to regulators on Wednesday asking regulators to push for an 18-month transition period for most of the industry, plus a 36-month exemption for certain sectors like the travel industry.”

July 17, 2019

On the web

UK Open Banking Implementation Entity Launches New Fingleton And ODI Report Examining The Purpose, Progress And Potential Of Open Banking


“Some key priorities and recommendations for Open Banking identified within the report include improving payments capabilities and refund functionality, the development of Premium APIs and improving consent protections for consumers. In addition to this, and echoing recent reports from BEIS, the Furman Review, the Smart Data Review, amongst others, it is clear that the Open Banking platform and infrastructure have extensibility into other sectors and geographies, and in particular, into the creation of an Open Finance ecosystem.”

June 4, 2019

On the wires

Worldpay Launches Solution to Optimize Payments Under PSD2 Regulations

“With the PSD2 requirement for Strong Customer Authentication (SCA) going into effect on Sept. 14, 2019, Worldpay, Inc. (NYSE: WP ) will launch the Exemption Engine for Strong Customer Authentication (SCA) merchants operating in the European Economic Area (EEA) to reduce friction from the online checkout experience. Under the SCA requirement, only an acquirer can file exemptions with issuers on behalf of the merchant. Worldpay’s Exemption Engine for SCA, which requires little-to-no integration, is a first-of-its-kind solution that employs machine learning to apply the most applicable SCA exemption to an individual payment. The Exemption Engine for SCA’s predictive model is built by analyzing Worldpay’s market-leading payment data in the region as well as proprietary issuer profiles, which inform the solution’s decisioning.”

March 27, 2019

On the wires

Token.io and Konsentus Launch Fast PSD2 Compliance Solution by Combining Turnkey PSD2 API With Automated TPP Verification

Fintech Finance

“With PSD2’s Regulatory Technical Standards (RTS) deadline passed, European FIs are under pressure to move quickly to deliver open APIs for testing. The Token and Konsentus partnership enables FIs to fast-track PSD2 compliance by connecting to a managed combination of two best-of-breed open banking technology platforms. By connecting banks and FIs to its SaaS PSD2 API, Token can provide the functionality required by the RTS including readiness for external testing and readiness for full production by 14th September. Konsentus’ SaaS platform simultaneously conducts automated checking and verification of TPPs that are requesting data and payment access to banks.”

March 19, 2019

On the web

On the wires

EBA Goes Live With Its Central Register of Payment and Electronic Money Institutions Under PSD2

“The European Banking Authority (EBA) launched today its central electronic register under the Payments Services Directive (PSD2). The register will provide information on several thousand payment and electronic money institutions and 150,000 agents within the EU. Its objective is to increase transparency and ensure a high level of consumer protection within the European Single Market. Commenting on the launch of the electronic register, the Executive Director of the EBA, Adam Farkas, said: “The EBA has worked hard to provide a freely accessible and reliable source of key information for market participants across the single market that will facilitate the roll out of PSD2, support the provision of the newly regulated payments services and improve transparency for consumers in the EU”.”

January 14, 2019

On the wires

December 18, 2018

On the wires

Nordea takes Open Banking beyond PSD2

“Nordea is launching Instant Reporting, a new Open Banking solution that enables corporate customers to access their own accounts and integrate real-time data with their own systems and processes. It is the first offering from Nordea that moves beyond legal requirements in PSD2 and turns Open Banking into a commercially viable product.”

September 17, 2018

On the web

Using a selfie to verify your online card payment – the technology is here

Irish Times

“Mastercard is hoping its Identity Check solution will become the technology of choice for banks looking to meet new requirements for verifying identities online as set out in the (Revised Payment Service Directive) (PSD2) legislation. The technology, which has been developed in part at the Mastercard Labs facility in Leopardstown, enables users to use biometric identifiers such as fingerprint, iris and facial recognition to verify their identity.”

August 30, 2018

On the web

PSD2: Real-time processing? Not so fast


“Industry experts observe that while the revised Payment Services Directive (PSD2) represents an opportunity for corporate treasury to take advantage of real-time payment processing, it will take some time for the full benefits to be realised.”

July 27, 2018

On the web

Fintechs and PSD2: The Role Of Competition Enforcers In Opening Up The Bank Infrastructure


“Despite the explosive growth of Fintech companies, newcomers to financial services sector often experience barriers when entering the market. Banks are not required to share their customers’ payment account data with third parties on the basis of existing financial regulations. In various studies, the Netherlands Authority for Consumers and Markets (“ACM“) analysed the possibilities to increase Fintech’s contribution to competition and warned against the risks of foreclosure of Fintechs. The European legal framework for retail payments has recently been revised with the adoption of the Payment Service Directive 2 (the “PSD2“). This directive focuses on opening up the banking infrastructure for third parties, also known as “open banking”. By developing standards for the exchange of data and guaranteeing access to existing systems, the European legislator aims to increase competition in the market for (alternative) payment services.”

June 5, 2018

On the wires

Mastercard Unveils Solutions To Underpin Open Banking Transformation


“Mastercard announced today that it is developing a new suite of services to underpin the transformation taking place in the industry as partners ready themselves to take advantage of Europe’s PSD2 legislation. With trust and security major pillars of the open banking ecosystem, Mastercard’s new services will make it easier for banks and third party providers to work together, enabling open banking to excel. With the opening up of financial data, trusted third parties will be given access to the information held by banks. This will not only empower third parties and banking incumbents to offer enhanced and individualised products and services, but it will also allow them to initiate payments on behalf of the business or consumer in some cases.”

May 7, 2018

On the web

What Europe’s Tough New Data Law Means for You, and the Internet

New York Times (Paywall)

“The new law requires companies to be transparent about how your data is handled, and to get your permission before starting to use it. It raises the legal bar that businesses must clear to target ads based on personal information like your relationship status, job or education, or your use of websites and apps.”

April 12, 2018

On the web

On the wires

Transakt Judged PSD2 Compliant for Strong Customer Authentication

Entersekt, a leader in next-generation digital banking security, today announced that its mobile app security and authentication product Transakt has been endorsed by a key European consultancy as a “state of the art solution” to the European Banking Authority’s Regulatory Technical Standards (RTS) on strong customer authentication under PSD2. These specifications define the enhanced security measures that payment service providers in Europe must put in place by September 2019.”

April 4, 2018

On the web

March 21, 2018

Top Post

Speed, safety, and savings in direct payments


“PSD2 will create opportunities for new forms of payment. IATA is investigating how this could be applied to payments by passengers: both direct to the airline and indirectly via travel agents. The potential prize is huge. Globally airlines absorb more than $8 billion in costs for merchant fees and fraud.”

On the web

March 7, 2018

On the web

What PSD2 and open banking means for financial services in 2018

World Finance

“In 2018, the financial services industry will undergo a transformation that will fundamentally change the relationship between consumers and retail banks. By giving consumers the choice of new direct-to-account payment methods and the ability to share their transaction data more freely with third parties, the EU’s Second Payment Services Directive (PSD2) and its UK implementation, ‘open banking’, will alter the structure of retail banking for good.”

Payments News

Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.

Glenbrook Payments Boot camp®

Register for the next Glenbrook Payments Boot Camp®

An intensive and comprehensive overview of the payments industry.

Train your Team

Customized, private Payments Boot Camps tailored to meet your team’s unique needs.

OnDemand Modules

Recorded, one-hour videos covering a broad array of payments concepts.

Glenbrook Press

Comprehensive books that detail the systems and innovations shaping the payments industry.