02 August 2019
PSD2: transitional period for strong customer authentication for online card payments in Italy
www.twobirds.com/en/news/articles/2019/global/psd2-transitional-period-for-strong-customer-authentication-for-online-card-payments-in-italy

On 1st August 2019 the Bank of Italy issued a press release where it announced that it will grant, in line with the decisions taken at European level, more time to the Italian financial industry to complete the ...

25 June 2019
Strong Customer Authentication (SCA): EBA Opinion allows for more time, and provides more clarity on the various SCA elements
www.twobirds.com/en/news/articles/2019/global/the-opinion-of-the-eba-on-the-elements-of-sca

On 21 June 2019, the European Banking Authority (EBA) published another Opinion on the updated Payment Services Directive (PSD2) and in particular its provisions on Strong Customer Authentication (SCA)

25 July 2019
Some key topics under PSD2: open banking, strong customer authentication, and the platform/commercial agent exemption
www.twobirds.com/en/news/articles/2019/global/some-key-topics-under-psd2

The second Payment Services Directive (PSD2) updates the original Payment Services Directive (PSD1) which dates back from 2007. In this article, we will discuss the most important changes in- troduced by PSD2 and the ...

01 November 2017
EBA final Guidelines on major incident reporting under PSD2
www.twobirds.com/en/news/articles/2017/global/eba-final-guidelines-on-major-incident-reporting-under-psd2

On 27 July 2017, the EBA adopted final guidelines on major incident reporting, providing more granularity to the incident reporting obligations contained in Article 96 of PSD2.

03 December 2020
Dutch regulator calls for tighter regulation of Big Techs in payment market study
www.twobirds.com/en/news/articles/2020/netherlands/dutch-regulator-calls-for-tighter-regulation-of-big-techs-in-payment-market-study

On 1 December 2020, the Dutch competition authority (ACM) published its long-awaited report on the role of major technology firms (Big Techs) in the payment market. The publication of the report was expected in the ...

04 December 2020
Non-Bank Financial Institutions in Singapore To Be Allowed Direct Connection with Major Funds Transfer Services
www.twobirds.com/en/news/articles/2020/singapore/non-bank-financial-institutions-in-singapore-to-be-allowed-direct-connection

Developments announced by the Monetary Authority of Singapore (“MAS”) on 30th November 2020 Recent developments in Singapore’s move towards a cashless society will see the expansion of two major funds transfer ...

24 December 2020
French Council of State confirms the retention of payment card data is subject to the prior consent of the cardholder
www.twobirds.com/en/news/articles/2020/france/french-council-confirms-retention-of-payment-card-data-subject-to-prior-consent-of-cardholder

In line with the guidance from the French data protection authority “Commission Nationale Informatique et Liberté” (CNIL) the Council of State confirms in a decision dated December 10th, 2020 that the conservation of ...

09 June 2020
French report proposes payments data localisation requirements
www.twobirds.com/en/news/articles/2020/france/french-report-proposes-payments-data-localisation-requirements

In February 2020, a report submitted to the French Minister of the Economy and Finance (available here – the Report) suggests that a data localisation requirement should be imposed on payments data, and that France ...

05 November 2020
New guidance on AISP and PISP AML requirements in Denmark
www.twobirds.com/en/news/articles/2020/denmark/new-guidance-on-aisp-and-pisp-aml-requirements-in-denmark

On 3 November, the Danish Financial Supervisory Authority (Danish FSA) issued revised AML Guidelines (Danish AML Guidelines) under the Danish Act no. 380 on Measures to Prevent Money Laundering and Financing of ...

30 June 2020
Changes to regulatory framework on the pricing model for the Danish Dankort scheme
www.twobirds.com/en/news/articles/2020/denmark/changes-to-regulatory-framework-on-the-pricing-model-for-the-danish-dankort-scheme

Providers of certain Danish payment instruments – currently only the Danish Dankort scheme operated by Nets - have for several years been subject to pricing regulations limiting such providers to only charge payees an ...