As retail open banking continues to grow, mechanisms should be put in place to balance innovative products for consumers while ensuring adequate fraud protection.
The Payment Systems Regulator (PSR) has published its report detailing the latest data on the pressing issue of APP fraud scams.
On Thursday last week, The Payments Association presented the launch of its latest report ‘Navigating the rising cost of living: Payments innovation as a game-changer’ at Parliament to a range of representatives from the House of Commons, House of Lords, and industry bodies including…the HMT, the FCA, BoE and the PSR.
The introduction of a digital pound is an opportunity to reform the financial system and make finance more accessible and inclusive.
The current economic climate is making first-party fraud – also known as friendly fraud – more appealing to those struggling financially. Sarah Jordan and Stephanie Kattah examine the challenges facing
Answer Pay’s Peter Cornforth examines the significance of Request to Pay alongside CoP, highlighting their combined role in meeting regulatory demands and fortifying payment security.
The Payments Association welcomes the opportunity to contribute to the PSR Consultation Paper “A new reimbursement requirement Faster Payments APP scam reimbursement rules and operator monitoring”. The community’s response contained
Chris Hemsley, managing director of the Payment Services Regulator (PSR), says the watchdog’s plan will be published by the end of June 2023.
The Payments Association’s head of policy and government relations Ricardo Tordera takes a look back at the trade body’s key achievements in 2022.
Santander is calling for more to be done to combat fraud because the PSR’s mandatory reimbursement plans for APP scam victims will be an unsustainable cost for banks and schemes.
APP Scams continue to grow, and we appreciate the PSR is committed to doing more to protect consumers. Nonetheless, we do not believe that measures such as requiring mandatory reimbursement
Payment firms should be prepared for a higher cost of compliance when the Financial Services and Market Bill enters into force in 2023.
The PSR is seeking views on proposals to increase the protections against APP scams, create quicker and mandatory reimbursements and put greater pressure on banks and building societies to tackle APP fraud. The Payments Association will be responding.
The Payments Association asked Kate Fitzgerald, head of policy at the Payment Systems Regulator, about her work and what she will be discussing at the Financial Crime 360 conference.
Representatives from companies such as Starling Bank, American Express, Nationwide, Visa, Mastercard, Bottomline, Clearscore, Vyne, Pennies, Tink, Eversheds Sunderland, Baker Botts and many more came together to discuss the future open banking model.
Rather than building a single global rulebook for payments, regional rulebooks are the better approach in the medium term, according to industry participants.
Fintech regulation in Europe shows no signs of slowing. So what are the main challenges and frameworks fintechs should be aware of to ensure their future success.
The Payments Association welcomes the opportunity to contribute to the PSR “Market Review of UK-EEA consumer cross-border interchange fees”. The community’s response contained in this paper reflects views expressed by
The Payments Association welcomes the opportunity to contribute to the PSR “Market Review of card scheme and processing fees”. The community’s response contained in this paper reflects views expressed by
The Payments Association welcomes the opportunity to contribute to the PSR “Market review into card-acquiring services”. The community’s response contained in this paper reflects views expressed by our members and
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