YamSoft Launches AI-Powered Payment Capabilities Following €2.35M EU Innovation Grant

European Union member states and the European Parliament agreed early Thursday to push back the toughest deadlines under the bloc’s AI Act, giving enterprises more time to prepare for high-risk compliance. Under the provisional deal between negotiators for the European Parliament and European Council, high-risk AI systems will face new deadlines of Dec. 2, 2027 for stand-alone systems and Aug. 2, 2028 for AI used in products covered by EU sectoral safety rules, a European Parliament statement said. The original deadline was Aug. 2, 2026. The deal still needs formal adoption by both Parliament and Council before it can enter into law. The co-legislators intend to complete that step before Aug. 2. Until they do, the original deadline applies as drafted. “Today’s agreement on the AI Act significantly supports our companies by reducing recurring administrative costs,” Marilena Raouna, Cyprus’s deputy minister for European affairs, said in a statement from the Council, which is composed of

Europe produces a large number of new tech startups each year – 28 crossed the $1 billion valuation mark in 2025 alone – yet few become global technology leaders. Many that do succeed look elsewhere to scale, particularly in the US. Founders point to multiple barriers to growing their business in the European Union (EU), including the complexity of navigating 27 different national legal systems. Despite access to the EU’s single market — home to 450 million consumers and 23 million companies — expanding across borders still brings significant legal, financial and operational complexity. These are among the challenges the European Commission’s proposed “EU Inc.” framework, unveiled last month, aims to tackle, with plans for a standardized, pan-EU company structure or “28th Regime.” Rather than navigating distinct national systems, companies that opt in to EU Inc. can incorporate once and operate under a single set of rules. Measures include digital incorporation within 48 hours, simplif