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Payment Systems Financial Transactions Financial Services Industry

BCLP

Unauthorised Transactions: Exclusive Application of the PSP Liability Regime

BCLP on

In a ruling dated 27 March 2024 (no. 22-21.200), the French Supreme Court (‘Cour de Cassation’) - citing European case law - held that a payment service provider can only be held liable for an unauthorised or incorrectly...more

Cadwalader, Wickersham & Taft LLP

FedNow Is Live!

The Federal Reserve Bank announced last week that its instant payments system, FedNow, is now live with 35 banks and credit unions, which means that “[b]anks and credit unions of all sizes can sign up and use this tool to...more

Orrick, Herrington & Sutcliffe LLP

Fed officially launches FedNow instant payment service

On July 20, the Federal Reserve Board launched its FedNow service for instant payments. Banks and credit unions of any size can sign up and use the tool to instantly transfer money for their customers at any time of day on...more

Troutman Pepper

FedNow Goes Live, Addressing Need for Speed in Banking

Troutman Pepper on

The Federal Reserve (Fed) has officially launched its new instant payment service, FedNow, which aims to modernize the U.S.’s payment system. As previously discussed consumers and businesses will be able to send and receive...more

McGlinchey Stafford

[Webinar] Deep Dive into Payments: Emerging Issues in Payments - July 25th, 11:00 am PT

McGlinchey Stafford on

Join us Tuesday, July 25, 2023, to hear McGlinchey attorneys discuss innovations in the payments environment and developing payments applications. Aaron Kouhoupt, David Thompson, Rachael Aspery, and Heidi Urness will explore...more

Orrick, Herrington & Sutcliffe LLP

Fed to launch FedNow in July

On March 15, the Federal Reserve Board announced a July launch date for its FedNow Service. Beginning the first week of April, the Fed will start formally certifying participants...more

Miller Nash LLP

FedNow—The Fed Announces Launch Timeline and Pricing

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The Federal Reserve’s long-awaited new payment system, FedNow, will be here and available to financial institutions sooner than we expected. In fact, many organizations have already been participating in the FedNow Pilot...more

A&O Shearman

UK Payment Systems Regulator Panel Publishes Report on Digital Payments Initiative

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The U.K. Payment Systems Regulator Panel has published a report on its Digital Payments Initiative, which investigated potential barriers to the take-up of digital payments and possible solutions. The Panel advises the PSR on...more

Hogan Lovells

Global Payments Newsletter, August 2021

Hogan Lovells on

Key developments of interest over the last month include: Brazil: Central bank publishes details of push towards Phase 2 of Open Banking - United Kingdom: PSR launches Digital Payments Initiative - Estonia:...more

Hogan Lovells

Payments regulatory news, March 2021 # 2

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Contactless payments: FCA PS21/2 on amendments to single and cumulative transaction thresholds - Following its consultation in CP21/3, the UK Financial Conduct Authority (FCA) has published a policy statement ...more

Hogan Lovells

PIX Launch

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After the creation of a Brazilian instantaneous payment method earlier this year (“PIX”), on November 16, 2020, the Central Bank of Brazil (“BCB”) officially launched its new digital transfer and payment platform. The purpose...more

Ballard Spahr LLP

The Federal Reserve’s Entry into Real-Time Payments

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Real-time payments (RTP) has been the rave of recent payments industry news. With the Federal Reserve announcing that it is about to embark upon the creation of a ubiquitous real-time payments framework, the topic is...more

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