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  1. Legal news
    25 November 2020
    The EU Court of Justice rules on various PSD2 provisions, including potential cardholder liability in relation to contactless payments
    www.twobirds.com/en/news/articles/2020/global/the-eu-court-of-justice-rules-on-various-psd2-provisions-including-potential-cardholder-liability

    As we know, the area of payments is a complex one, not only because of the way in which payments operate (i.e. the technology is sometimes complex), but also because the relevant legislation is not always very clear, is ...

  2. Legal news
    23 October 2020
    EBA consults on changes to its guidelines on major incident reporting under PSD2
    www.twobirds.com/en/news/articles/2020/global/eba-consults-on-changes-to-its-guidelines-on-major-incident-reporting-under-psd2

    On 14 October 2020, the European Banking Authority (EBA) launched a public consultation on the revision of the current EBA Guidelines on major incident reporting under Directive (EU) 2015/2366 (PSD2) -EBA/GL/2017/10- ...

  3. Legal news
    13 August 2020
    New EU obligations for PSPs regarding information they hold on the application of VAT on payment transactions
    www.twobirds.com/en/news/articles/2020/global/new-eu-obligations-for-psps

    On 18 February, the Council of the European Union approved a series of rules (including a Directive and a Regulation) aimed at facilitating the detection of tax fraud for VAT purposes in cross-border payment ...

  4. Legal news
    13 August 2020
    Revision of EEA Interchange Fee Regulation appears unlikely – at least for now
    www.twobirds.com/en/news/articles/2020/global/revision-of-eea-interchange-fee-regulation-appears-unlikely

    Card issuers, acquirers and merchants are among those preparing for a public hearing to take stock of the EEA Interchange Fee Regulation (Regulation (EU) 2015/751 – IFR), due to be organised by the European Commission ...

  5. Legal news
    15 April 2020
    EBA consultation on changes to AML/CTF risk factors guidelines
    www.twobirds.com/en/news/articles/2020/global/eba-consultation-on-changes-to-aml-cf-risk-factors-guidelines

    On 5 February 2020, the European Banking Authority (EBA) issued a public consultation on changes to the anti-money laundering and counter-terrorist financing (AML/CTF) risk factors guidelines (Guidelines).

  6. Legal news
    05 February 2021
    The FCA consults on changes to Strong Customer Authentication (SCA) rules, SCA transaction thresholds for contactless payments and its guidance on payment services and electronic money
    www.twobirds.com/en/news/articles/2021/global/the-fca-consults-on-changes-to-strong-customer-authentication

    On 28 January 2020, the FCA published a consultation paper CP21/3 (Consultation Paper) setting out proposed changes to the SCA-RTS, the guidance in the FCA’s approach document (Approach Document) and the Perimeter ...

  7. Legal news
    13 February 2020
    Apple Pay under Competition Law scrutiny
    www.twobirds.com/en/news/articles/2020/global/apple-pay-under-competition-law-scrutiny

    DG COMP is investigating Apple Pay. In this article, we discuss some of the issues that, we believe, must be discussed at part of that investigation.

  8. Legal news
    25 February 2020
    New EU VAT reporting laws for Payment Service Providers
    www.twobirds.com/en/news/articles/2020/global/new-eu-vat-reported-laws-for-payment-service-providers

    New EU VAT legislation has been formally adopted last week which will have a significant impact for regulated payment service providers (PSPs) in the EU and (we anticipate) the UK.

  9. Legal news
    17 February 2021
    Employer salary advance schemes to be closely monitored by the FCA
    www.twobirds.com/en/news/articles/2021/global/employer-salary-advance-schemes-to-be-closely-monitored-by-the-fca

    Employer salary advance schemes (ESAS) are becoming increasingly popular in the payments sector. Much of the public focus of the review carried out by Christopher Woolard published on 2 February 2021 (the Woolard ...