Credit cards are becoming a popular method of payment in Germany. Approximately five percent of the turnover from all payments in Germany is processed via credit cards. Yet despite this, most people only have a very faint idea – if at all – of how a credit card payment works from a legal perspective. In […]
From 3 December 2018, the so-called Geo-blocking Regulation will enter into force in the European Union and therefore also in Germany. It is intended to prevent discrimination in cross-border transactions within the European Union, including geo-blocking. Who is affected by the Geo-blocking Regulation? The Geo-blocking Regulation affects traders, i.e. business persons who offer goods or […]
If you talk to insiders from the payment industry about prepaid card systems, they inevitably use terms such as closed loop, open loop and restricted open loop or semi-closed loop. What does closed loop, open loop, restricted open loop and semi-closed loop mean? In practice, the terms closed loop, open loop, restricted open loop and […]
5th Anti Money Laundering Directive (AML5) tightens requirements for anonymous e-money and makes cryptocurrency platforms and wallet providers subject to money laundering law Now it’s official: The 5th Anti-Money Laundering Directive (AML5) was published in the EU’s Official Journal on the 19 June 2018. The new directive will come into force on 9 July 2018 […]