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  1. Legal news
    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 ...

  2. Legal news
    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)

  3. Legal news
    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 ...

  4. Legal news
    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.

  5. Legal news
    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 ...

  6. Legal news
    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 ...

  7. Legal news
    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 ...

  8. Legal news
    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 ...

  9. Legal news
    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 ...

  10. Legal news
    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 ...