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The Indian Parliament has passed a bill that empowers the government to allow banks and other payment service providers to impose charges on transactions made through the Unified Payments Interface (UPI) and other electronic payment modes.
The European Central Bank (ECB) has selected 36 payment service providers, including major banks from Portugal, Cyprus, and Lithuania, to participate in the pilot phase for the digital euro. This test phase is expected to begin in the summer of 2027, initially involving central bank employees.
A Moldovan parliamentary commission has approved a proposal that could require payment service providers, including banks and payment systems, to inform clients about fees charged.
Lithuania's Ministry of Finance suggests allowing payment service providers to temporarily restrict funds in cases of suspected fraud, with the ability to return them to victims if fraud is confirmed.
The European Central Bank (ECB) has invited payment service providers to participate in a pilot project to test the digital euro, allowing selected users to make digital payments between individuals and businesses, both online and in physical stores.
Ebenezer Baffour, Head of Internal Affairs at Hubtel, warned that the absence of cooperation among payment service providers is undermining Ghana's efforts to combat fraud in its rapidly growing digital payments ecosystem.
The European Central Bank is moving forward with its digital Euro project, with 36 payment service providers set to pilot a test version of the payment instrument by 2027.
Bulgarian banks and payment service providers are preparing for new European regulations against financial fraud, set to take effect from January 1, 2027, amidst rising digital payments and fraud attempts.
The article discusses the increasing digitalization of life and its impact on payment service providers like Visa. It highlights new challenges, such as liability issues when AI assistants make erroneous purchases.
Prime Minister Inga Ruginienė and Bank of Lithuania Chairman Gediminas Šimkus are presenting proposals to strengthen consumer protection and provide payment service providers with more tools and responsibilities to combat financial fraud.
Fraud cases involving fintech companies and payment service providers are increasing in Ghana as criminals exploit digital payment channels. Experts caution that the fight against digital fraud is an ongoing battle requiring continuous improvement rather than a definitive victory.
The European Union is pushing forward with its digital Euro project, which aims to complement existing cash and reduce Europe's reliance on US payment service providers. This initiative is part of a larger strategic goal.
Banks and other payment service providers in Montenegro are now prohibited from accepting cash payments of 10,000 euros or more for property-related transactions; all amounts exceeding this limit must be processed through bank accounts.
Ghana's Minister for Communication, Digital Technology and Innovations, Sam Nartey George, has issued a warning to financial institutions and payment service providers regarding penalties for failing to comply with mandatory monthly cybersecurity reporting.