With the new rules from the PSR requiring PSPs to reimburse customers who have been scammed arriving in October 2024, The Payments Association has undertaken a survey to discover what Payment Service Providers (PSPs) think may be their impact, and to consider what the rules may mean for investment, innovation, employment and competition.
The Payment Systems Regulator (PSR) sat down with The Payments Associations network to discuss the findings of the survey, explore issues the market may not be fully understaning and, in light of the first 2 months of the new rules, what is happening on the ground.
Key discussion of this webinar include:
- Early observations on the new reimbursement rules
- The £85k limit – what does this mean for larger frauds?
- Where liability should sit in a chain of financial services organisations
- How the new rules could affect UK attractiveness for FinTechs