Payment Systems Regulator

From 7 October 2024, victims of authorised push payment (APP) scams will be able to claim a maximum reimbursement of £85,000 for losses incurred through Faster Payments and CHAPS, the Bank of England's Payment Systems Regulator (PSR) has confirmed. This decision by the PSR board reduces t

The UK's Payment Systems Regulator (PSR) is proposing to lower the maximum amount banks must refund victims of authorised push payment (APP) fraud from £415,000 to £85,000. The regulator is currently consulting on this change, having reviewed data on high-value APP scams, which

The Payment Systems Regulator (PSR) has fined Barclays £8.4 million for failing to comply with the Interchange Fee Regulation (IFR) because it did not provide retailers with full information about the costs of card services it supplied. The PSR has taken action as it found that the bank did no

The Payment Systems Regulator (PSR) has announced investigations into Visa and Mastercard after the two firms raised fees more than five fold on a number of cross-border transactions after Brexit.

Richard Lloyd has been selected as interim chair of the Financial Conduct Authority (FCA) while the Treasury searches for Chris Randell's permanent successor. Aidene Walsh will act as interim chair of the Payment Systems Regulator (PSR) from 1 April 2022.

The Payment Systems Regulator (PSR) has imposed fines against Mastercard, allpay, Advanced Payment Solutions, Prepaid Financial Services and Sulion after concluding that the five parties infringed competition law by agreeing not to compete or poach each other’s customers in the prepaid cards m

UK banks will be forced to refund victims of Authorised Push Payment (APP) scams under new changes to the law published by the Payment Systems Regulator (PSR).

Charles Randell has asked the Chancellor of the Exchequer to commence the process to appoint his successor as chair of the Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR). Mr Randell plans to step down in Spring 2022.