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Why open banking regulations and security matter to credit unions

Why open banking regulations and security matter to credit unions 2SHARES Account holder digital expectations are often being driven by innovative fintechs and credit unions have turned to open banking as an effective way to meet this demand through partnerships with third-party providers (TPPs). Open banking relies on the use of application programming interfaces (APIs) to boost performance and reduce latency, and as with any digital data-sharing process, security and consumer privacy are of top concern. The most recent F5 Labs research shows that the number of API security incidents is growing every year, and most API incidents during the last two years were related to a low level of security maturity, which is often caused by tool sprawl.

The German Federal Supreme Court allows surcharges for certain payment transactions involving Sofortüberweisung and PayPal | Dentons

On March 25, 2021, The German Federal Supreme Court ( Bundesgerichtshof, BGH) ruled on appeal that certain transaction surcharges for the use of payment services offered by online payment service providers Sofortüberweisung, part of the Klarna Group, and PayPal do not violate the prohibition on surcharges for SEPA payment transactions. 1 PSD2), which was transposed into German law by Section 270a of the German Civil Code ( Bürgerliches Gesetzbuch, BGB). The judgment is therefore of interest not only for Germany, but for the entire EU payment services market.  In the appeal case brought before the BGH, the claimant, a consumer protection organization, had originally filed for a cease and desist order against the defendant, a long distance bus operator, for an alleged violation of the ban on surcharges. As a means of payment, customers of the defendant could choose between payment by debit card, credit card, Sofortüberweisung and PayPal. For the latter two, the defendant w

Top criteria to consider in post-COVID-19 hotel payments processing

Top criteria to consider in post-COVID-19 hotel payments processing All too often, hoteliers manage payments independently of the hotel’s daily and core business operations, relying mostly on disjointed payment systems. share this article Photo: Guestline To satisfy post COVID-19 emerging market demands and improve guest satisfaction while maintaining business operations and sustainability, hoteliers should consider payment processes as important as room availability, rates and inventory. To help you review your payment operations, Guestline takes you through the fundamental criteria to consider when choosing a new payment solution:- Guest Preferences Modern guests payment preferences have changed, so hotel payment systems must address the new guests preferences. The payment processing systems for hotels may integrate modern payment solutions like a digital wallet, pay by link, virtual cards and contactless cards, among others, plus they should allow guests to

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