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April roundup of global regulatory news

We’ve scoured the web for the latest regulatory news in the payments industry, so you don’t have to.

The PSR provisionally finds Mastercard and four other companies broke the law by engaging in cartel behaviour in the pre-paid cards market
The Payment Systems Regulator (PSR) has issued a Statement of Objections that alleges that Mastercard, allpay, APS, PFS and Sulion engaged in anti-competitive behaviour by agreeing not to compete or poach each other’s clients.

Pay.UK predicts strategic trends in future of retail payments

Pay.UK has published a report exploring the key trends that are shaping the future of retail payments. The report, “Strategic trends: Retail payments in a future world” explores the way our homes, work and play are being changed by evolving technologies, smarter AI and changing consumer behaviours.

Visa Network Will Settle Transactions in Crypto
Visa announced Monday (March 29) that it is the first major payments network to settle transactions in dollar denominated stablecoins, which the company claimed is an important step into bringing cryptocurrencies into the payments and commerce mainstream.

EU forges ahead with plans to create fully integrated instant payment system
EU member states want to make it easier for consumers to pay in shops, and to make e-commerce transactions widely available, convenient and safe across the EU.

Malta heading towards ‘all-clear’ from Moneyval
Malta’s anti-money laundering regime has been given the thumbs up by Moneyval ahead of a final vote set for next month. The decision means Malta could avoid measures which would have had major repercussions on the country’s financial services sector.

Final rules on the new operational resilience framework published by the FCA and PRA
On March 29, 2021, the Financial Conduct Authority (FCA) published final rules that will create a new operational resilience framework for banks, building societies, solvency II firms, recognized investment exchanges, enhanced scope senior managers and certification regime firms, and those authorized or registered under the Payment Services Regulations 2017 or Electronic Money Regulations 2011.

Security statement

Security is our top priority at Trust Payments and we strive to ensure that all data is kept secure at all times We keep all customer data safe with AES256 encryption, SSL Certificates, and a minimum of TLS1.2, between your website and our datacentres.

Our systems are scanned quarterly using the Qualys PCI Platform, an independent Qualified Security Assessor (QSA) and approved vendors – Omnicybersecurity (UK) & Forgenix (US) – to ensure compliance with the security requirements of the card schemes.

We follow a number of rigorous security procedures on a daily basis including, but not limited to, continuous monitoring of our perimeter, dark web monitoring, and internal checks to ensure that CIA triad is maintained at all times.

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