US regulators simplify licensing process for fintechs

State regulators take first step to standardize licensing practices for Fintech payments — Conference of State Bank Supervisors — “Seven states have agreed to a multi-state compact that standardizes key elements of the licensing process for money services businesses (MSB). The agreement: If one state reviews key elements of state licensing for a money transmitter — IT, cybersecurity, business plan, background check, and compliance with the federal Bank Secrecy Act — then other participating states agree to accept the findings… Other states are expected to join this compact.”





Nordea Bank: PSD2 will require banks to adopt a ‘totally new way of viewing their customer base’

Nordea's Liisa Kanniainen

Significant confusion and a high level of fragmentation can be expected over the next five years as European financial institutions become accustomed to new regulations under the Payment Services Directive (PSD2) which will open the door to new competition within the European payment services market, says Nordea Bank’s vice president of strategic business development, transaction banking and business innovation. More






G&D gets Amex accreditation for HCE payments solution

Giesecke Devrient logo

PARTNER NEWS: Giesecke & Devrient (G&D) has received Amex Enabled accreditation for Convego CloudPay, a host card emulation (HCE) based solution that lets a bank’s customers use their mobile banking app to load payment card credentials onto their smartphone and make contactless payments... More







Major UK merchants sign up for Zapp mobile payments

Zapp can be used to make payments online and in-store

Zapp, the mobile payments startup formed by UK payments infrastructure operator VocaLink, has announced that major retail chains including Sainsbury’s, Asda, House of Fraser, Thomas Cook, Shop Direct, Spar and Clarks are to use its service to let customers make payments with their mobile phones... More


Smartrac to seed Internet of Things platform with 1.5bn tags a year

Smartrac CEO Clemens Joos

The company’s Smart Cosmos platform will provide an open, secure and standardized way to track the world’s objects, Smartrac CEO Clemens Joos has told NFC World, enabling system integrators, developers and consumers to connect physical objects with cloud-based descriptions that can be used to identify, authenticate and verify products, track assets and deliver a wide range of consumer applications... More




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