Is Electronic Signature Safe and Legally Binding?


In a world where technology is developing faster than legislators can handle, are we getting carried away with accepting new technology products before stopping to consider their legal effects? While security and consumer protection are indeed highly-debated issues in e-commerce, does anyone really have time to print out an agreement or a form, sign, scan, and return to sender?

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What You Need to Know About the New EU-U.S. Privacy Shield


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On February 2, 2016, the much-anticipated agreement between the EU Commission and the U.S. outlining the framework for the transfer of personal data was finalized. Following the invalidation of the Safe Harbour rules by the European Court of Justice (ECJ) on October 6, 2015, the Commission issued a new guidance on November 6, 2015. Continue Reading

European Parliament Votes to End Geo-Blocking

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As part of its Digital Single Market Strategy, the European Parliament voted on January 19th to combat the practice of geo-blocking in order to boost e-commerce within the EU Internal Market.Continue Reading

Are You Ready for Strong Customer Authentication?

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Now that the revised Payment Services Directive (PSD2) has been finalized, issues of transposition will come to the fore. This is because the PSD2 is expected to enter into force in January 2016 and to apply from January 2018.Continue Reading

Insights From MasterCard’s MCDS Conference


The MasterCard MCDS conference took place November 4-6. The conference covered quite a few payments topics and trends. It was a great opportunity to meet with colleagues and get an up-to-date picture of where we are headed as an industry.Continue Reading

Credorax Celebrates Pan-European Banking License Launch

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Previously a licensed financial institution, Credorax has now officially evolved into a commercial bank in Europe. Having recently received our commercial banking license from the Malta Financial Services Authority (MFSA), we have become one of the first fintech companies in the world to grow into a pan-European bank.Continue Reading

The Digital Single Market Strategy: Innovation Meets Regulation

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In the payment services and e-commerce arena, EU regulators are striving to keep up with the rapid pace at which technology is advancing in order to properly regulate the various technologies currently in use and to ensure that consumers are protected.

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PSD II: One Step Closer

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On October 8, 2015, the proposed PSD II was formally approved by the European Parliament (EP) by 578 votes to 29, with 52 abstentions. Following the EP’s approval, now the proposed PSD II has reached the final stage where it is up to the Council of the EU to formally adopt the text and have it published in the official EU languages.Continue Reading

ISO 20022: We’re Just Getting Started

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Recently, a working group composed of payments processing experts completed work on a first draft of the ISO 20022 standards. These guidelines are aimed at encouraging the implementation of real-time electronic payments between financial institutions through standardized messages. This draft has already been circulated for review. The feedback from this review will be discussed at the upcoming International Swift banking conference, Sibos, which is being held next month in Singapore.Continue Reading