COVID-19 and Payments

From the increase in contactless payment limits to the added pressure to digitalise infrastructure and tackle the growing threat of fraud, the COVID-19 pandemic has shaken up regulation for the payments industry.

Regulators and authorities are releasing daily statements and creating temporary procedures to help firms and consumers navigate this difficult period. The question on payments professionals’ minds is how they can maintain their compliance obligations in this rapidly changing, pandemic-stricken industry.

This page brings together a collection of COVID-19 related insights and analysis that VIXIO PaymentsCompliance provides to subscribers.

Related Resources

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Timeline: Regulator Response to Pandemic

How a global pandemic has shaken up payments regulation

Coronavirus is having an immediate and dramatic impact on the way consumers use payments, which could have a lasting effect. Payment habits traditionally change very slowly, over years rather than months, but coronavirus is set to change all of that and there is every likelihood that we won’t switch back to old habits when it’s all over.

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The European Commission should scrap the Electronic Money Directive (EMD2) in favour of a broadened…


U.S. Federal Reserve Reveals Details Of New Instant Payment Service

The U.S. FedNow instant payment service will include a request to pay function, higher transaction…


Fresh Mafia Wirecard Links Revealed In Secret Police Report

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COVID-19: Temporary Procedures tracker

In response to the current global pandemic, PaymentsCompliance has created the COVID-19: Temporary Procedures tracker to help organisations follow the latest regulatory developments and keep informed about the daily changes that most affect their business.

Register for a free trial to access lastest COVID-19 related insights and analysis for the payments industry.

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