Payment services
ECB to embark on soul-searching process in 2020
The European Central Bank will next year review its tools and objectives in order to better fulfil its mandate of price stability, and it also intends to assess the appropriateness of issuing its own digital currency, in the face of growing concerns about Facebook’s Libra.
Commission wary of side effects of Libra regulation
The European Commission has called for a “proportionate” and differentiated approach to regulating digital currencies including Facebook’s Libra, as the EU needs to preserve is developing Fintech environment.
EU divided over implementation of payments directive
The European Commission questioned on Wednesday (25 September) some member states’ decision to grant at least 18 months to banks for the full implementation of the European Payments Services Directive 2, which requires stronger authentication procedures for online payments.
The future of payments: What next for competition and innovation in payments?
Following PSD2 and the IFR, is the payment sector in Europe on the right path to achieve greater speed, better transparency and enhanced choice for European consumers?
EU member states to look into Facebook’s controversial Libra
The Economic and Financial Committee (EFC), which brings together the EU’s member states, has requested an analysis note from the European Commission to further look into the risks posed by Facebook’s controversial digital currency Libra and the ways to regulate it.
G7 says Facebook’s Libra poses ‘serious risks’
The G7 listed on Thursday (18 July) the requirements Facebook’s new ‘coin' Libra should meet, as regulators are increasingly wary of the “serious risks” posed by this digital currency.
Cryptoasset investors exposed to substantial risks, two EU reports find
Cryptoassets are dangerously unregulated and may give rise to criminal activities, according to two recent assessments published by the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA).
Commission holds its fire against Bitcoin and Co.
The European Commission is still hesitant to regulate cryptocurrencies, despite a warning issued by European regulators and bans imposed in other regions following the rising market volatility of digital currencies.
Payments: Converging Users, Sectors and Technology
As users call for the convenience of the digital experience, well- established financial services providers must embrace the change.
Moving the payment landscape forward at speed
The way we pay and shop continues to evolve at speed but the vision of a safe, secure and simple digital payments landscape is happening all around us, writes Ann Cairns.
EU agrees clampdown on bitcoin platforms to tackle money laundering
European Union states and legislators agreed on Friday (15 December) on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies, the EU said in a statement.
How consumers and government can combat the shadow economy
Perhaps the clue is in its name but the shadow economy’s drain on economic growth and public finances can be difficult to recognise. And, unfortunately, consumers can often unwittingly contribute to its growth, writes George Simon.
ECB to enable mobile payments using phone numbers by 2018
ECB plans to link mobile phone numbers to their owners' bank accounts will facilitate bank transfers and consolidate the eurozone payments market. EURACTIV's partner La Tribune reports.
Romania and EU agencies smash cybercrime gang
Romanian police have smashed, with the help of European law enforcement agencies, a computer fraud gang accused of stealing millions of euros from unsuspecting victims, officials said Thursday (17 November).
UK fintech finds EU barriers emerging after Brexit vote
Fallout from the vote to leave the European Union is already threatening the growth of financial technology firms in Britain, industry officials said on Wednesday (2 November).
Commission champions ‘laissez-faire’ in first response to FinTech revolution
The digital revolution in the financial sector will get a helping hand from EU regulators later this year when the European Commission tables new proposals for retail financing, with a clear objective: let the revolution flourish.
A cashless society is a fairer society
Greater transparency is key to combatting VAT fraud and the shadow economy, writes Jason Lane.
New €50 note will not end forgeries, says German police chief
The chairman of the German police union, Rainer Wendt, has warned that the new €50 note will not be completely safe from forgers. EURACTIV Germany reports.
Blending: The new buzzword at EU’s ‘Davos of Development’
'Blending' - a form of pump-priming private sector investment, by leveraging it onto public official development aid - seems to be the new buzzword at this year's EU Development Days, according to the UN's Xavier Michon.
National Front calls for ban on Bitcoin
The National Front wants to preserve cash and ban Bitcoin, which it sees as an unsafe form of payment. The EU has yet to legislate on the subject. EURACTIV France reports.
MasterCard international chief: ‘Brexit wouldn’t be a significant change for us’
Blockchain is expected to have a larger impact on our business than a potential Brexit, suggests MasterCard’s deputy boss, Ann Cairns. In her view, the technology behind virtual currencies like bitcoin is “a good thing for the future”, she told EURACTIV.com.
Brexit a threat to London’s FinTech dominance, industry says
82% of British financial technology companies want the United Kingdom to stay in the European Union, according to recent a poll by the industry association. EURACTIV’s partner La Tribune reports.
Brexit could boost UK financial technology firms – but only in short-term
Britain leaving the European Union could give fledgling financial technology companies an immediate shot in the arm but deprive them of expansion later on, industry officials said on Monday (11 April).