This edition contains further updates relating to Authorised Push Payment (APP) fraud including recent publications from the Payment Systems Regulator (PSR) setting out priority areas for the implementation of mandatory reimbursement rules. We also provide an update on the proposals for extending the reimbursement requirements to CHAPS payment system. Payment Service Providers (PSPs) should also note that Pay.UK has recently published the FPS Reimbursement Rules: Compliance Monitoring Regime and the final version of the FPS Reimbursement Rules on its website. However these are still subject to change ahead of the 7 October policy start date to ensure they align with the PSR’s final policy positions and legal instruments following its consultation on compliance and monitoring of the FPS reimbursement rules (CP24/3), which we discussed in our last newsletter.
Published date: 21 June 2024
