by Rich Benvin | Nov 11, 2020 | Payment Facilitators, Payments Industry
While payment facilitators are known for their ability to reduce friction and to quickly underwrite and onboard new merchants, not all merchants are created equal. Some require more due diligence and ongoing risk monitoring than others. The payments industry considers...
by Rich Benvin | Oct 7, 2020 | Payment Facilitators, Payments Industry
In the latest back-and-forth between federal regulators and their opponents over supervision of nonbank fintech companies, Acting Comptroller of the Currency Brian Brooks defended his agency’s efforts to develop a national regulatory scheme for fintech companies at a...
by Rich Benvin | Sep 24, 2020 | Payment Facilitators, Payments Industry
The Conference of State Bank Supervisors (CSBS) announced last week that it was launching what it called a “state-initiated” program that would enable money transmitters operating in 40 or more states to undergo a single exam to satisfy all state exam requirements in...
by Rich Benvin | Aug 27, 2020 | Payment Facilitators, Payments Industry
For years, small merchants were underserved by the payments system. It was not cost-effective for banks to serve the needs of the smallest businesses, limiting the forms of payment many of them could accept. In recent years, more and more options have arisen to bridge...
by Rich Benvin | Aug 20, 2020 | Payment Facilitators, Payments Industry
Data security is a critical component of the work that payment facilitators do. Proper management of sensitive data is an essential responsibility for anyone enabling access to the payments system. So every payment facilitator needs to understand the role that PCI...
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