The UK’s payments regulator says new fraud reimbursement rules will proceed as planned. The Payment Systems Regulator told PYMNTS Monday (June 10) that it still plans to roll out regulations requiring banks and payment companies to reimburse victims of authorized push payment (APP) fraud up...
The managing director of Great Britain’s Payments Systems Regulator (PSR) is reportedly stepping down. As Bloomberg News noted in a report Saturday (June 1), Chris Hemsley’s departure comes amid rising financial industry anger over new fraud refund regulations. Hemsley will leave “imminently” following nearly five...
Higher fees from the payments networks across the pond have not translated into better service, according to a new report. The U.K.’s Payment Systems Regulator (PSR) issued a 158-page report Tuesday (May 21) that charged increases in the fees levied on acquirers and issuers through...
The U.K.’s payments watchdog says card giants Visa and Mastercard need to offer greater transparency. The Payment Systems Regulator (PSR) said Tuesday (May 21) that it is proposing that both companies routinely turn over financial information to the regulator and consult with retailers and merchants ahead of any fee changes. This came after...
May 21, 2024
Higher fees from the payments networks across the pond have not translated into better service, according to a new report. The U.K.’s Payment Systems Regulator (PSR) issued a 158-page report Tuesday (May 21) that charged increases in the fees levied on acquirers and issuers through the past five years by U.S. firms Visa and Mastercard […]
July 15, 2024
Two United Kingdom regulators have begun gathering information on the benefits and risks of digital wallets for people and businesses. The Payment Systems Regulator (PSR) and Financial Conduct Authority (FCA) launched a joint call for information “from a wide range of stakeholders,” according to a Monday (July 15) press release. After analyzing all the responses they receive, the regulators […]
June 10, 2024
The UK’s payments regulator says new fraud reimbursement rules will proceed as planned. The Payment Systems Regulator told PYMNTS Monday (June 10) that it still plans to roll out regulations...
June 02, 2024
The managing director of Great Britain’s Payments Systems Regulator (PSR) is reportedly stepping down. As Bloomberg News noted in a report Saturday (June 1), Chris Hemsley’s departure comes amid rising...
May 21, 2024
The U.K.’s payments watchdog says card giants Visa and Mastercard need to offer greater transparency. The Payment Systems Regulator (PSR) said Tuesday (May 21) that it is proposing that both companies routinely turn over financial information to the...
