Payments News Update -- April 17, 2019

Legal and Regulatory Developments SPOTLIGHT: Appeals Court Revives £14B Mastercard Class Action Law360 – April 16, 2019 An appeals court in London on Tuesday revived a £14 billion ($18.3 billion) proposed class action lawsuit accusing Mastercard of flouting European Union competition law by charging consumers high credit card fees, in a test of the U.K.’s fledgling class action regime.  The Court of...

Payment News Update - April 10, 2019

Legal and Regulatory Developments SPOTLIGHT: UK Antitrust Watchdog Probe’s Visa’s £247M Takeover Bid Law360 - April 4, 2019 Britain’s antitrust watchdog said Thursday that it has opened a preliminary investigation into whether Visa’s £247 million ($324 million) offer for payment network Earthport PLC will hinder competition in the U.K.’s cross-border payments sector.  The Competition and Markets...

Payments News Update - April 3, 2019

US-China Trade War Deal Could Be Too Late for the Likes of Mastercard, American Express and Visa South China Morning Post - April 2, 2019 A trade deal between President Xi Jinping and United States counterpart Donald Trump could finally fulfil a long-delayed promise to open up China’s 208.1 trillion yuan (US$31 trillion) market for credit cards and other third-party payment processors to American companies like...

C|C Payments Weekly News Update

March 13, 2019

Legal and Regulatory Developments SPOTLIGHT: The Battle for Real-Time Payments Dominance in the U.S. Finextra - March 11, 2019

Since Fed catalysed the private sector to deliver real-time payment capabilities, there has been advocacy for the central bank backed, real-time payments (RTP) scheme. Many feel the lack of a ubiquitous RTP infrastructure has become a road block to innovation in financial...

C|C Payments Weekly News Update

March 6, 2019

Legal and Regulatory Developments

SPOTLIGHT: Will 'Open Banking' Sizzle or Fizzle in the U.S.?

The Financial Brand - February 27, 2019

In the U.S., open banking may not yet be law like it is in the U.K., but its impact will continue to ripple across the pond. Here's how experts say the concept will affect banking providers worldwide, including American institutions.

Open banking allows...