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Topic: Payments openbanking

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FSB outlines next steps for enhancing cross-border payments

October 17, 2022

On 10 October 2022, the Financial Stability Board (FSB) published the priority themes for the next phase of work under the G20 Roadmap for Enhancing Cross-Border Payments. The FSB has also published a report on the progress made during the second year of the Roadmap. The two reports are being delivered to G20 Finance Ministers and Central Bank Governors for their meeting in Washington DC on 12-13 October 2022.

Buy Now, Pay Later (but take note of the immediate application of the FTC Act)

October 14, 2022

We recently reported on recent steps taken by the Consumer Financial Protection Bureau (CFPB), which suggest increased US regulation of the Buy Now, Pay Later (BNPL) sector in the coming weeks and months.

Making your customer receivables more "financeable" for a receivables purchase facility

October 06, 2022

Receivables financing may be a more easily-obtained source of liquidity for a company facing a credit crunch, and, depending on the creditworthiness of a company’s customers, may provide a less expensive source of financing for companies that do have access to credit. This article discusses ways that a company can make its receivables more easily “financeable” in order to qualify for a US receivables purchase financing.

All signs point to increased US regulation of Buy Now, Pay Later

October 06, 2022

Driven by an increase in online and mobile app shopping during the COVID-19 pandemic, the Buy Now, Pay Later (BNPL) market has experienced exponential growth as an innovative consumer offering, particularly for the unsecured credit market. The explosion of the BNPL market, however, is attracting scrutiny from financial services regulators concerned about the lack of specific rules and the potential risks to consumers. Federal regulators have taken a largely hands-off approach to the BNPL sector in the past, but recent noteworthy shifts have signaled regulatory headwinds are on the horizon.

HM Treasury consultation and call for evidence on payments regulation and the systemic perimeter

July 26, 2022

On 21 July 2022, HM Treasury issued a consultation and call for evidence to explore reforms to the systemic payments perimeter under the supervision of the Bank of England (BoE). It sets out why now is the time to review the applicability of the BoE’s existing regulatory perimeter over payment systems, the Government’s principles in approaching any reforms, and potential adjustments to the framework of the Banking Act 2009.

The BNPL global landscape and latest trends

July 14, 2022

The buy-now-pay-later sector continues to enjoy a global boom, following its widespread take-up by consumers across the world during the pandemic. But regulators around the world are now beginning to take a closer look at the sector and, in some cases this could mean the introduction of new regulatory requirements on providers.

FSB interim report on developing the implementation approach for the cross-border payments targets

July 14, 2022

On 7 July 2022, the Financial Stability Board (FSB) published an interim report on the approach for monitoring progress toward meeting the targets for the G20 Roadmap for Enhancing Cross-border Payments. The report provides preliminary recommendations about key performance indicators (KPIs) that could be used to monitor progress over time, and identifies existing and potential sources of data for calculating those KPIs.

Regulation Tomorrow Plus: HM Treasury’s proposals for buy-now-pay-later

July 14, 2022

A new Regulation Tomorrow Plus podcast episode covering HM Treasury’s proposals for buy-now-pay-later is out now to stream and download on Apple Podcasts and Spotify.

Webinar | The Buy Now Pay Later global landscape and latest trends | Wednesday 6th July @8.30am and 3pm BST

June 30, 2022

Join our global FinTech team to hear about the developing regulatory approaches and trends in the BNPL sector across the world.

ECB speech ‘Bringing European payments to the next stage: a public-private endeavour’

June 30, 2022

On 16 June 2022, the European Central Bank (ECB) published a speech by Executive Board member Fabio Panetta entitled ‘Bringing European payments to the next stage: a public-private endeavour’. In his speech Mr Panetta discusses the EU’s retail payments strategy and the introduction of a digital euro.