Payment Systems Regulator (PSR)

Read more about the article PSR provisionally finds that the cards schemes do not face effective competition in the supply of scheme and processing services to acquirers

PSR provisionally finds that the cards schemes do not face effective competition in the supply of scheme and processing services to acquirers

  • Post author:
  • Post category:

PSR provisionally finds that the cards schemes do not face effective competition in the supply of scheme and processing services to acquirers. The regulator’s interim report suggests the supply of scheme and processing services is not working well There is currently no effective competition preventing the two biggest schemes raising prices Pricing in the market

Continue ReadingPSR provisionally finds that the cards schemes do not face effective competition in the supply of scheme and processing services to acquirers

PSR consults on directing APP scams reimbursement for CHAPS payments

  • Post author:
  • Post category:

The Payment Systems Regulator (PSR) is proposing to direct banks and other payment firms participating in CHAPS 1 to reimburse their customers who have been victims of authorised push payment (APP) scams. The PSR’s direction will underpin the Bank of England’s new CHAPS reimbursement rules.   In June 2023, the PSR published its policy requiring payment

Continue ReadingPSR consults on directing APP scams reimbursement for CHAPS payments

PSR proposes a high bar for granting extensions and exemptions to secure compliance with its rules

  • Post author:
  • Post category:

The PSR is consulting on draft guidance s ettin g out how it proposes to make decisions on whether to grant an extension or exemption to a specific direction or requirement.    Specific directions and requirements are important tools the PSR uses to require firms to implement changes which improve payments for people and businesses across

Continue ReadingPSR proposes a high bar for granting extensions and exemptions to secure compliance with its rules

PSR seeks views on its proposed approach to supervision

  • Post author:
  • Post category:

The Payment Systems Regulator (PSR) has published a call for views on its proposed approach to supervision, having established a Supervision and Compliance Monitoring division last year.   The division was created to drive compliance with the PSR’s requirements, something that has become increasingly important as the regulator uses its powers to boost competition, increase choice

Continue ReadingPSR seeks views on its proposed approach to supervision

JROC invites feedback on the Future Entity for UK open banking

  • Post author:
  • Post category:

The Joint Regulatory Oversight Committee (JROC) has today published proposals for the future open banking entity (the Future Entity). This follows consultation with industry through the Future Entity Working Group, which presented its findings to JROC in December 2023.     The Future Entity will create a structure that promotes further innovation and functionality along

Continue ReadingJROC invites feedback on the Future Entity for UK open banking