Payment services regulations in theUKare regulated by the FSA – Financial Services Authority in theUK– who actively promote and maintain the standards as set by the Payment Services Directive (PSD). The UK government appointed the UK FSA to enforce and maintain the standards as…
Regulation & Compliance Archives | Starting Business
Electronic Funds Transfer Act
EFT stands for Electronic Funds Transfer and the EFTA stands for the Electronic Funds Transfer Act of 1987. The impetus behind the EFTA 1978 was to protect individuals engaging in electronic fund transfers. The EFTA 1978 is enforced through ‘Regulation E’ which is a…
What is PCI compliant
The term PCI is an abbreviation for Payment Card Industry. Retailers and merchants that wish to accept and process card holder data are required to conform to a set of requirements as stipulated by the payment card industry data security standard (PCI DSS)…
What is SSL Certification
Secure Socket Layer Certification (SSL) is a type of website protection that enables the safe and secure transactions between a web server and a web browser. It is vital to obtain the correct form of SSL certification in order to enable the smooth transaction of online…
What is FDMS
First Data Merchant Services is a US based payment processor company that provides merchants with payment solutions and means of conducting e-commerce. FDMS is a widely used company across the globe as they enable customers to transfer money through a secure and fast method…