Payment Systems Regulator

60 results about this entity

Period: 04 Sep 2019 - 01 Aug 2024

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PSR to make more financial firms provide Confirmation of Payee

Today, the Payment Systems Regulator (PSR) has announced its plans that will see around 400 more financial firms provide Confirmation of Payee (CoP).

NatWest bank brands fined for overcharging interchange fees

/payments

NatWest bank brands fined for overcharging interchange fees

Four banks in the NatWest stable - National Westminster Bank, Royal Bank of Scotland, Ulster Bank and Coutts & Company - have been hit with a £1.82 million fine for overcharging interchange fees on credit cards.

UK watchdog takes on card schemes

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UK watchdog takes on card schemes

The UK's Payment Systems Regulator (PSR) has put the card schemes on notice that it is investigating their fees and how to help merchants get better deals, including by promoting the alternative of account-to-account payments.

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UK regulators review MoU on payment systems

The Bank of England (BoE), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Payment Systems Regulator (PSR) have a Memorandum of Understanding (MoU) that sets out the high-level framework the Authorities use to cooperate with one another, in relation to payment systems in the UK.

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UK names interim chairs of FCA and Payment Systems Regulator

HM Treasury has announced that they have started the search for the next Chair of the FCA. While the search for Charles Randell’s permanent successor concludes, Richard Lloyd OBE will act as interim chair of the FCA from 1 June 2022. Aidene Walsh will act as interim chair of the PSR from 1 April 2022.

PSR bids to shake up card acquiring market

/payments

PSR bids to shake up card acquiring market

The UK's payments watchdog has set out new rules designed to inject more competition into the market for card acquiring services.

PSR slaps prepaid card firms with £33 million fine for cartel behaviour

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PSR slaps prepaid card firms with £33 million fine for cartel behaviour

The UK's Payment Systems Regulator has imposed fines totalling £33 million on five firms, including Mastercard, for violation of anti-trust laws in the issue of prepaid cards to vulnerable people on welfare benefits.

Payment Systems Regulator publishes five-year plan

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Payment Systems Regulator publishes five-year plan

The UK's Payment Systems Regulator (PSR) has set out a five-year strategic plan focused on protecting users and promoting competition in the sector.

UK Government to legislate for mandatory reimbursement of APP fraud

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UK Government to legislate for mandatory reimbursement of APP fraud

The UK's banks will be required to publish data on their performance in relation to APP scams, on reimbursement levels for victims, and which banks and building societies’ accounts are being used to receive the fraudulent funds, under new rules proposed by the payment systems watchdog.

Three-in-four APP fraud cases rejected by banks overturned by Financial Ombudsman

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Three-in-four APP fraud cases rejected by banks overturned by Financial Ombudsman

Consumer complaints outfit Which? has accused banks of treating authorised fraud victims unfairly, with some firms getting decisions over scams and reimbursement wrong in nearly nine in 10 cases.

PSR issues new access to cash directive to Link

/payments

PSR issues new access to cash directive to Link

Link's mission to ensure free and easy access to cash as the UK's primary cash machine network operator will remain under the purview of the Payment Systems Regulator, following a positive review of its performance by the watchdog.

Banks called to account over "shockingly low" rate of reimbursements for APP fraud

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Banks called to account over "shockingly low" rate of reimbursements for APP fraud

Over three quarters of bank customers have failed to win reimbursements from banks after falling victim to authorised push payment scams.

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