A German financial regulator has reportedly fined Commerzbank $1.5 million for anti-money laundering violations. BaFin said Monday (April 11) that the bank failed to update customer data on time and did not provide sufficient security measures, Reuters reported. This, the report added, led to inadequate due diligence in three cases,...
A German regulator has reportedly concluded that EY’s audit work and quality control regarding the now-defunct payments firm Wirecard was marked by “grave” and “repeated” violations of professional duties. The regulator, Apas, said this in a review that was published Friday (April 19) and ended a multiyear...
The German parliament approved legislation Friday (April 12) that calls for benefits to be delivered to asylum seekers on payment cards rather than cash. This change is meant to limit how these migrants can use the benefits, AP reported Friday. The payment cards will only be able...
Tide will launch its business financial platform in Germany, aiming to serve small businesses in Europe’s largest economy. Already available in the United Kingdom and India, the platform provides connected finance and admin solutions designed for small businesses that don’t have a finance function, the...
May 08, 2023
As regulators push for the development of instant payments, European Union countries continue to leverage preexisting economic relationships to advance faster payments across the region. It’s a trend that has led to historic real-time payment growth and adoption in recent years, PYMNTS has reported, with successful national payment schemes like iDEAL in the Netherlands, Sweden’s Swish or BLIK in Poland driving online […]
March 23, 2023
Competition in the eCommerce space is increasing as customer acquisition costs continue to rise. Thomas Marks, head of growth at sticky.io, attributes the growing competition to new eCommerce businesses bursting onto...
March 01, 2023
Real-time payments are quickly becoming ubiquitous in developed nations worldwide, with businesses and consumers relying on this payment method in ever-growing numbers. A PYMNTS study found that 86% of businesses...
December 06, 2022
Thursday marks a red letter day in annals of fraud — the type that destroys companies and careers. No, not that crypto exchange. You might be forgiven for automatically defaulting...
April 24, 2024
Brite Payments now enables instant account-to-account (A2A) payments and payouts in Germany. The Swedish FinTech already offers these Brite Instant Payments in the Nordics, Baltics and Benelux and plans to continue expanding their availability across Europe, Brite Payments said in a Wednesday (April 24) press release. “2024 is the year that A2A payments, or pay […]
April 22, 2024
A German financial regulator has reportedly fined Commerzbank $1.5 million for anti-money laundering violations. BaFin said Monday (April 11) that the bank failed to update customer data on time and did not provide sufficient security...
April 19, 2024
A German regulator has reportedly concluded that EY’s audit work and quality control regarding the now-defunct payments firm Wirecard was marked by “grave” and “repeated” violations of professional duties. The regulator, Apas,...
April 12, 2024
The German parliament approved legislation Friday (April 12) that calls for benefits to be delivered to asylum seekers on payment cards rather than cash. This change is meant to limit...
