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6
Business
Regulation
67
Worldline
2016 Registration Document
KRIIs
APAC
North
America
Europe
& U.K.
APAC
North
America
Europe
& U.K.
KRIIs
KRIIs cited in previous WPRs
KRIIs introduced in WPR 2016
High
Moderate
Low Not Applicable
Impact on Banks
Note:
Payment Security and Technology includes Contactless, Near Field Communication (NFC), Tokenization, Biometric Authentication, and Mobile Point of Sale (mPOS)
Source:
Capgemini Financial Services Analysis, 2016; WPR 2015, 2014, 2013, 2012 and 2011; SME Input
s
AML/ATF 4
th
Directive
s
Bank Payment Obligation
s
BSA/AML Guidelines for
Prepaid Products in the U.S.
s
CPSS IOSCO
s
EMV Adoption
s
Financial Transaction Tax
s
Internet Payment Security
s
Intraday Liquidity Norms
and Reporting
s
Mobile Payments Security
in Euro
s
Stored Value Facilities
Ordinance in Hong Kong
s
Virtual Currency/Distributed
Ledger Regulations
s
Access to Clearing
s
Data Privacy and Protection
including Cyber Security
s
Electronic Identification
and Trust Services
s
Immediate Payments
s
ISO 20022 Standards
in Payments
s
Large-Value Payment Systems
Upgrades
s
National e-Payments System
in Thaïland
s
Regulatory Framework for FinTechs
s
SEPA/e-SEPA
s
SEPA for Cards
s
Interchange Fee Regulation
s
Regulations on Payment Platforms
in China
s
Australia Payments Plan
s
Cross-Border Low-Value
Payments Processing
s
Financial Inclusion
s
Global Payments Innovation
Initiative by SWIFT
s
Mobile Wallet
s
Open API Banking Platforms
s
Payment Security and Technology
s
PSD II (Access to Accounts)
s
U.K. PSR (Payment System Regulator)
s
Unified Payment Interface (India)
European Regulation
6.9.2
Regulation of payment services in
6.9.2.1
Europe
The provision of payment services is a regulated activity that
states that have implemented the PSD, which regulates
requires a license when carried out in European Union member
payment services in domestic markets.
Under this regulation, the following activities, in which the Group
participates, are considered to be payment services:
issuing and/or acquiring of payment instruments;
(i)
line;
card, or a similar device, whether such transaction
execution of payment transactions through a payment
(ii)
originates from a payment account or is covered by a credit
execution of funds transfers and debit payments, including
(iii)
account with the user’s own payment services providers or
standing orders, whether made through the payment
credit line; and
with another payment services provider or covered by a
the payer to execute a payment transaction is given by
execution of payment transactions where the consent of
(iv)
the payment is made to the telecommunication, IT system
means of any telecommunication, digital or IT device and
or network operator, acting only as an intermediary
goods and services.
between the payment service user and the supplier of the
constitutes the provision of services for the execution of
VPay) or credit (Visa and MasterCard) card payment orders
payment transactions through payment cards.
which, in the context of payments made by card or online,
As an example, the Group’s Commercial Acquiring activities,
cardholder’s bank so that the bank may determine if the
consist in receiving and transmitting the payment order to the
instrument acquiring services. Similarly, the Group’s processing
transaction can be effected, constitute the provision of payment
and execution of debit (Bancontact/Mister Cash, Maestro and
either pursuant to the European principal of freedom to provide
Conducting regulated payment services in a European Union
regulatory authority as either a licensed credit institution
member state requires prior approval from the relevant national
payment institution. Licensed institutions are allowed to operate
authorized to provide payment services or as a licensed
other member state in which they are authorized to operate
in the member state in which they are licensed as well as in any