Included in the latest issue: Mastercard Send to launch in UK, EFTA Court interprets Articles 7 and 11 of 2EMD and more...

UK

Mastercard Send to launch in UK

Mastercard has enlisted Starling Bank as the settlement agent for the forthcoming debut of its P2P and B2C disbursement service Send in the UK.

Finextra, 6 June 2018

BoE launches global messaging standard consultation

The Bank of England (BoE) has launched a six-week consultation on the adoption of a common global language or messaging standard known as 'ISO 20022' for payments in the UK in conjunction with New Payments System Operator (NPSO) and the Payment System Regulator (PSR).

BoE, 6 June 2018

Nicky Morgan seeks answers on Visa’s system failure

The chair of the Treasury Committee, Nicky Morgan MP, has written to the CEO (Europe) of Visa, Charlotte Hogg, to find out why Visa’s system failed on 1 June 2018. Many consumers and businesses were unable to make or accept payments on the day. Ms Morgan asked how Visa will ensure that a similar failure doesn’t happen again, and whether customers or merchants will be entitled to compensation.

Treasury Committee, 5 June 2018

BoE responds to Treasury's call for evidence on cash and digital payments in the new economy

The Bank of England (BoE) has published a response to HM Treasury's Call for Evidence on Cash and Digital Payments in the New Economy, which was launched on 13 March 2018. The BoE acknowledges that the usage of cash is evolving, but it says that there is, and is likely to remain for the foreseeable future, a significant public demand for banknotes.

BoE, 1 June 2018

WORLDWIDE

EFTA Court interprets Articles 7 and 11 of 2EMD

The European Free Trade Association (EFTA) Court has provided an advisory opinion on Article 7 (Safeguarding requirements) and Article 11 (Issuance and Redeemability) of the Electronic Money Directive (Directive 2009/110/EC) in Edmund Falkenhahn AG v The Liechenstein Financial Market Authority (Case E-9/17).

EFTA, 30 May 2018