CMARSS

UK watchdog approves Cardtronics purchase of ATM provider DCP

Cardtronics

Cardtronics’ $460-million purchase of rival ATM provider DirectCash Payments (DCP) has finally been approved by the UK’s Competition and Markets Authority (CMA). Back in May 2017, Cardtronics had to offer undertakings due to competition concerns, and initially didn’t. The CMA said at the time: “As Cardtronics has not offered these undertakings, the CMA will now […]

UK regulator balances the looks for current accounts

FCA keen to explore regtech

The UK’s Financial Conduct Authority (FCA) has launched proposals to help people compare the service levels for personal and business current accounts. The FCA proposes that firms offer information on how long it takes to open an account; how long it takes to replace a lost, stolen or stopped debit card; and the number and […]

UK watchdog backs PSR plan for merger of three payment bodies

PSR

The UK’s Payment Systems Regulator (PSR) has got approval from the Competition and Markets Authority (CMA) for its plan for the consolidation of the operators of three payment systems. As first reported in May, the PSR aimed to get Bacs Payment Schemes (BPSL), Cheque and Credit Clearing Company (C&CCC) and the Faster Payments Scheme (FPSL) […]

UK competition watchdog tells ICE to sell Trayport

ice

The UK’s Competition and Markets Authority (CMA) has finally decided that Intercontinental Exchange (ICE) should sell Trayport to preserve competition in wholesale energy trading. As Banking Technology reported in August, the CMA “provisionally” found ICE’s acquisition of Trayport may give rise to competition concerns. After lengthy investigation, CMA says: “As a result, ICE will now […]

Top fintech stories this week – 7 July 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

UK watchdog reveals rules to fuel open banking

uk flag

Open Banking, the implementation entity set up by the UK’s Competition and Markets Authority (CMA), has released its accounts and transaction information and payments initiation API specifications. The payments initiation API will enable third parties to set up secure payments on behalf of customers and, once authorised by the customer, submit the payment for processing. […]

UK watchdog pushes hard on open banking plan

uk flag

The UK’s Competition and Markets Authority (CMA) is ramping up its efforts for open banking within the nation’s retail banking scene. As reported in February, the CMA published its 766-page final report on the retail banking market and its open banking goals. At that time, it said it will offer overdraft users the opportunity to […]

Cennox acquires Diebold UK & Ireland business

Acquisition-Defined

Following the ruling of the UK’s Competitions and Markets Authority (CMA), Diebold Nixdorf has shed some of its business. Diebold UK & Ireland has been sold to Cennox.

CASS plays Casanova to CMA’s current account commitments

Is there fintech life outside London? Yes, there is. And it is vibrant!

The UK’s Current Account Switch Service (CASS) says it meets one of the commitments set out in response to the Competition and Markets Authority’s (CMA) final report into retail banking. As Banking Technology reported in January, the CMA accepted undertakings from the Bacs payment scheme, which owns and manages CASS, that commit it to delivering […]

Diebold Nixdorf in major deal with Russia’s Post Bank

Russia

Russia-based Post Bank, a joint venture of VTB Group and Russian Post, has purchased 3,200 self-service cash recycling systems (plus software and services) from Diebold Nixdorf.

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