SEPA Request-to-Pay (SRTP | R2P)- the messaging service for payments
SEPA Request-to-Pay (SRTP) is a new scheme by the European Payment Council, similar to SEPA Credit Transfer (SCT),…
BaFin inspecting general terms and conditions: What do payment and other financial services providers need to be aware of?
When drafting general terms and conditions (“T&C”), the “opponents” are generally your contractual partners as well as consumer…
The EPI: The destination is clear but not how we get there (part 1)
New information on the European Payments Initiative (EPI) and the EU’s Retail Payments Strategy (RPS) On 2 July,…
Comment on the draft general ruling of BaFin regarding Sec. 24c KWG and virtual IBAN
BaFin has published a general ruling on 7 September 2020, pursuant to which credit institutions are obliged to…
Interchange Fee Regulation: a stimulus package for acquirers?
EU Regulation 2015/751 on interchange fees for card-based payment transactions – more commonly known as the Interchange Fee…
Legal, illegal, who cares? – Sanctions for payment services and e-money business without a licence
As part of our daily advisory work, we often have to consider whether a license is required for…
PEPS-I: Monnet 2.0 or SCT Inst?
Since mid-2019, around 20 banks from 9 eurozone countries have been discussing behind closed doors a concept for…
“Lex Apple Pay” – let’s pretend we don’t have a clue… what exactly are technical infrastructure services?
Everyone has been talking about “Lex Apple Pay” ever since the Finance Committee provided its recommendation to include…
The trials and tribulations of the ECB payment statistics
Before I begin, I’d just like to set the scene by establishing a few things: Just as lawyers…
Let the music play: The distribution of e-money and payment institutions in the EU
Would you like to play a little guessing game? Yes? Great! The question to be answered is: What…