The recently issued guidance on Merchant Payment Acceptance Activities (MPAA) establishes critical requirements to ensure safe and efficient fund transfers within the payment ecosystem. It mandates that operators of payment systems (OPS) involved in or considering MPAA must adhere to comprehensive standards of risk management, governance, and legal compliance. Key directives include the necessity for MPAA operators to obtain a Merchant Acquisition License (MAL) and maintain appropriate capital reserves. Additionally, operators must conduct risk-based due diligence on merchants, formalize agreements, implement robust IT risk management practices, and assume full responsibility for overseeing third-party service providers. These measures are designed to safeguard the integrity and security of payment operations.
Read full guidance below
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}