The Payment Systems Regulator (PSR), the economic regulator for the £75 trillion UK payment systems industry, has today published draft Terms of Reference outlining how it intends to review whether the operators of CHAPS and Faster Payments Scheme (FPS), need to play an expanded role in helping to minimise consumer harm caused by particular types…
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The Payment Systems Regulator (PSR), the economic regulator for the £75 trillion UK payment systems industry, has announced the start of a concerted and coordinated industry-wide effort to tackle payment scams. The regulator today published its response to a super-complaint issued by consumer watchdog Which?, about protection for people making authorised ‘push’ payments. In the…
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UK payments regulator PSR has today proposed changes to the way payment systems infrastructure is procured and provided, the latest step taken by the PSR in a series of developments that is bringing wholesale change to UK payments. Earlier this year, the PSR unveiled the conclusions of its market review into the ownership and competitiveness of…
Read moreUK payments systems regulator PSR has received a "super-complaint" from Which? relating to concerns it has around consumer safeguards in the market for push payments. Which? is the largest consumer body in the UK, with over 680,000 members that subscribe to its magazine, plus over 335,000 online subscribers. Which? is best known for doing things such as…
Read moreThe United Kingdom Payment Systems Regulator (PSR) has published an interim report, setting out the findings of its indirect access market review. The review examines the supply of indirect access and to determine whether competition is working well for those who use payment systems – or whether the PSR needs to take further action to…
Read moreThe Payment Systems Regulator (PSR), the economic regulator for UK payment systems, has today announced the appointment of Paul Smith as its Head of Policy. Paul has a wealth of experience working for UK regulators, having previously held roles at Postcomm (now Ofcom) and Ofgem. He joins the PSR from the Australian Energy Market Commission…
Read moreThe members of the Payments Strategy Forum, to meet up to 6 times per year, were announced and confirmed by the UK Payment Systems Regulator on Thursday.
Read moreApril 1st seems to be a landmark date for UK financial regulation – in 2013, the first day of April saw the Financial Conduct Authority and the Prudential Regulation Authority appear. This year the date also will have particular significance for the financial services sector, for the payments industry in particular. The Payment Systems Regulator…
Read moreCarole Begent, Mark Falcon and Louise Buckley join the dedicated payments industry regulatory authority in Britain, all three of whom have served in senior corporate and public sector regulatory roles
Read moreJust over six months after announcing that a dedicated regulatory authority for electronic payment systems would be created, the FCA has today released full details of the parameters that it will use for oversight, as well as its pro-competition ethos
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