Companies

Signifyd Launches Intelligent Returns to Help Retailers Tackle the Growing Returns Challenge

Business Wire

“Signifyd unveiled Intelligent Returns, a two-solution suite designed to help retailers in the UK and Europe tackle the growing complexity and cost of returns with two new solutions. Instant Refunds provides retailers with real-time advisory recommendations (Advisory Notices) at key points such as label creation or carrier scan. Returns Insights gives a comprehensive look at […]

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Industry

Banks Respond to CFPB’s Reopened Section 1033 Rulemaking

Bank Policy Institute

“The Consumer Financial Protection Bureau today took a concrete step to comprehensively reexamine its prior 1033 rulemaking by issuing an advance notice of proposed rulemaking seeking input on particular issues related to implementation of Section 1033.”

Industry

Treasury Issues Request for Comment Related to the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act

Treasury

“The U.S. Department of the Treasury issued a Request for Comment required by the GENIUS Act, which furthers the Administration’s policy of supporting the responsible growth and use of digital assets, as outlined in Executive Order (E.O.) 14178 on “Strengthening American Leadership in Digital Financial Technology. In particular, Treasury asks commenters about application program interfaces, artificial intelligence, digital […]

Companies

Airbnb Launches “Reserve Now, Pay Later” for US Stays

Dataconomy

“Airbnb has launched a “reserve now, pay later” feature for US users, enabling them to book accommodations without immediate upfront payment. This option allows guests to defer the full payment until a later date preceding their check-in. The company stated that the payment must be completed before the conclusion of a booking’s free cancellation window. This policy ensures that […]

Tags: Airbnb

Companies

Citigroup Considers Custody and Payment Services for Stablecoins, Crypto ETFs

Reuters

“Citigroup is exploring providing stablecoin custody and other services, a top executive told Reuters, in a further sign sweeping policy changes in Washington are spurring major financial firms to expand into the cryptocurrency business. The U.S. bank is among a handful of traditional institutions, including Fiserv and Bank of America, considering pushing into stablecoins after […]

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Industry

White House in Crypto Policy Report Calls for SEC Action, New Legislation

Reuters

“A cryptocurrency working group formed by President Donald Trump on Wednesday outlined the administration’s stances on market-defining crypto legislation and called on the U.S. securities regulator to create new rules specific to digital assets. In a factsheet ahead of a landmark report, the White House urged Congress to move forward with legislation that would create […]

Industry

A Fair Exchange: Why Data Aggregators Should Pay to Access Bank APIs

Bank Policy Institute

“The banking sector is investing heavily in digital infrastructure and technological capabilities to expand the products and services available to customers and to increase the speed, safety and efficiency of modern banking. These investments help power a wide range of services, such as mobile banking and peer-to-peer payments. They also contribute to the development of […]

Industry

Financial Stability Board Publishes Recommendations to Address Financial Stability Risks Created by Leverage in Nonbank Financial Intermediation

Financial Stability Board

The Financial Stability Board (FSB) published three reports related to its work programme to enhance resilience in nonbank financial intermediation (NBFI). The recommendations on NBFI leverage, which have been delivered to the G20, set out an integrated approach for addressing financial stability risks created by NBFI leverage. Under this approach, authorities should identify such risks […]

Industry

Bank Groups Call for Swift, Secure Transition As Treasury Phases Out Paper Checks

Bank Policy Institute

“The Bank Policy Institute, The Clearing House Association and the Consumer Bankers Association submitted joint comments to the U.S. Department of the Treasury late yesterday urging prompt action to fully transition to secure, modern electronic payment methods and minimize the use of checks. The letter — submitted in response to a Treasury request for information […]

Industry

Senate Passes Cryptocurrency Bill, Handing Industry a Victory

The New York Times

“The Senate on Tuesday passed legislation to establish a regulatory framework for stablecoins, putting the cryptocurrency industry, which had long been viewed with suspicion by lawmakers in Washington, on the brink of a major policy breakthrough. Bipartisan approval of the bill, known as the GENIUS Act, followed an aggressive lobbying campaign aimed at transforming the […]

Companies

Tencent Eyes Thai Market for Palm Biometric Payments in Race With Alipay

GlobalData

“Tencent is positioning Thailand as a testing ground for its palm biometric payment system, aiming to capitalise on the nation’s digital transformation push and “Cloud First” policy. The move signals a strategic play to outpace rival Alipay in Southeast Asia’s rapidly expanding fintech sector.”

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Companies

Project Pine: Central Bank Open Market Operations With Smart Contracts

BIS

“Project Pine is a joint research study by the New York Fed’s New York Innovation Center and the BIS Innovation Hub Swiss Centre that explores if and how central banks can implement monetary policy in a potential future state where the financial sector widely adopts tokenisation in wholesale markets.”

Tags: Bank for International Settlements Federal Reserve

Global

NPCI’s Netbanking 2.0 Looks to Replicate UPI Success, but Challenges Loom

Policy Circle

“The National Payments Corporation of India is set to give the net banking system a major makeover, aiming to replicate the revolutionary success of Unified Payments Interface and make online transactions even easier for users. The ambitious project, called Netbanking 2.0, is being spearheaded by NPCI’s subsidiary, NPCI Bharat BillPay Ltd, and is expected to go live […]

Tags: India

Industry

Joint Trades Respond to CFPB’s Emerging Payments Interpretive Rule

Bank Policy Institute

“The Clearing House Association, the Bank Policy Institute, and the Consumer Bankers Association submitted a comment letter in response to the Notice of Proposed Interpretive Rule and request for comment regarding Electronic Fund Transfers Through Accounts Using Emerging Payment Mechanisms. The Emerging Payments Rule purports to apply Regulation E to new products, including virtual currencies, […]

Companies

TreviPay Launches Advanced Purchase Controls to Streamline B2B Purchasing and Enhance Compliance

Business Wire

“TreviPay announced the release of advanced purchase controls to allow businesses to configure and enforce customized B2B purchase policy structures that align with their procurement requirements. The new functionality, now available to TreviPay clients, addresses pain points in the B2B purchasing process by automating controls that reduce payment delays, minimize manual reconciliation work and enhance […]

Tags: TreviPay