In today’s top Europe, Middle East and Africa (EMEA) news, the U.K. revises listing rules for exchanges; Facebook could face potential litigation over alleged European Union privacy violations; the U.K.’s Financial Conduct Authority (FCA) scraps a 90-day reauthentication open banking rule; Wirex launches a $1 million token holiday giveaway; Verto and Banking Circle partner on international payments; and more.
In an effort to help London keep pace with New York, Britain’s stock markets overseer said new listing regulations would debut this week. The updated rules, which were available for public review earlier this year, are aimed at bolstering London’s position as a global center for listing companies.
Social media giant Facebook could face potential litigation from European consumer groups stemming from its collection of personal information related to games available on the app in 2012. The lawsuits — should they be filed — would be related to privacy violations under the EU’s General Data Protection Regulation (GDPR).
The FCA has scrapped a 90-day reauthorization requirement, a move seen as a boon for the open banking sector. Currently, consumers using open banking services that give third-party providers such as apps or peer-to-peer (P2P) lending platforms access to their main bank account must reauthenticate with their account servicing payment service providers (ASPSPs) every 90 days to reconfirm permission.
To kick off the holiday season, U.K.-based digital payments service Wirex has announced that it will be paying out up to $1 million worth of Wirex Token (WXT) this Christmas through a series of daily promotions. The Wirex Advent Calendar campaign, which runs through Dec. 24, aims to attract new people looking to invest in cryptocurrency, even though it will be open to Wirex users worldwide who can sign up, make purchases and exchange cryptocurrency to earn more benefits during the giveaway.
B2B cross-border payments provider VertoFX is working with Banking Circle to streamline international payments, enabling Verto to use the bank’s virtual International Bank Account Number (IBAN) solution and local payment rails to alleviate the pain of complex pay-ins and cross-border payments. With this shift, accounts and payments will now be in the client’s name and receive individual IBANs. This is expected to simplify reconciliation, make clients more confident and pave the way for easier international transactions.
Google has announced that it is allowing close to 300,000 PrestaShop merchants around the world to “more easily integrate their product inventory” on the search engine’s platform through PrestaShop Marketing with Google, a PrestaShop Essentials suite add-on. PrestaShop Marketing with Google is available across France and in other countries where Shopping campaigns are available.
MoneyGram International is working with the digital wallet provider urpay to power cross-border payments from Saudi Arabia. The partnership, expected to go live for customers early next year, lets urpay connect to Moneygram’s “API-driven infrastructure and global network to provide its millions of users the ability to send money around the world,” the company said.