All posts tagged "payment services"
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197ChinaPayPal Acquires Full Control of China Payments Business
PayPal is the first foreign firm to own a 100% stake in a payment platform in China, having obtained a licence to operate in the country a year ago.
January 14, 2021 -
702AML / KYCChinese Police Target Offshore Gambling via E-Commerce Platforms
Chinese police say at least $2bn has been laundered to offshore gambling sites through fake e-commerce purchases and other methods.
September 17, 2020 -
1.6KAML / KYCSingapore Crypto Association Publishes Industry Code of Practice
The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.
August 18, 2020 -
1.5KFintech / RegtechFSC Korea to Overhaul Digital Finance Regulations – Report
Mobile payment service providers will be allowed to offer deferred payment services, issue payment accounts to users, and enable larger transaction limits.
July 27, 2020 -
733Big PictureCBDCs Could Amount to ‘Sea Change’ for Payments: BIS
Covid-19 has highlighted unequal access to payment services for low-income and vulnerable groups. CBDCs present an opportunity to address this shortcoming.
June 25, 2020 -
910ChinaPBOC Issues Record Penalty Against Payments Firm
Allscore Payment Service was also found to have providing services for illegal gambling websites, embezzled customer funds and misappropriated reserve funds.
May 10, 2020 -
1.8KAML / KYCMAS Adopts FATF Standards on VASPs in Payment Services Act
MAS has proposed amendments will align the Payment Services Act with the most recent enhancements to the FATF Standards in relation to virtual asset service providers.
December 28, 2019 -
737Australia & NZNPP Australia Responds to RBA on Platform Access, Functionality
Effective immediately, NPP Australia has established a mandatory compliance framework allowing it to designate core capability requirements and enforce compliance through non-compliance charges.
August 1, 2019 -
795Australia & NZAustralian Payments Council Releases New Strategic Agenda
The strategic agenda sets out five areas that will guide the APC's work to ensure the payments system remains resilient, efficient, accessible, and adaptable.
July 3, 2019 -
1.7KFeatureSingapore Banks Well-Equipped Against Fintech Threat: Moody’s
Singapore's three largest banks are well placed to ward off threats to their market share by fintech firms, even as friendly regulatory policies encourage greater growth in the sector.
June 20, 2019
