PSR

UK Payments Industry Seeks Further Reduction of Fraud-Reimbursement Cap
UK Payments Industry Seeks Further Reduction of Fraud-Reimbursement Cap
September 06, 2024  |  Regulation

The payments industry in the United Kingdom is reportedly advocating for changes to fraud-reimbursement rules that are set to be enacted Oct. 7. Despite changes...

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Liability Remains Murky Despite Reduction in UK Push Payments Fraud Fine
Liability Remains Murky Despite Reduction in UK Push Payments Fraud Fine
September 04, 2024  |  Security & Fraud

It’s said in jurisprudence that hard cases make bad law. Bad laws have the unintended consequences of hurting society, encouraging bad behavior, or both. In...

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Report: UK Regulator Makes Massive Cut to Fraud Reimbursement Plan
Report: UK Regulator Makes Massive Cut to Fraud Reimbursement Plan
September 04, 2024  |  Security & Fraud

The U.K.’s payment regulator is reportedly making a drastic cut to its fraud reimbursement plan. Banks and payment companies in England would have had to...

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PSR Explores Expanding Variable Recurring Payments in UK
PSR Explores Expanding Variable Recurring Payments in UK
August 15, 2024  |  Regulation

Great Britain’s payments regulator has taken another step in its variable recurring payments (VRP) project. In December, the Payment Systems Regulator (PSR) put forth a...

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Push Payments Fraud in UK Hit $433 Million in 2023
Push Payments Fraud in UK Hit $433 Million in 2023
August 01, 2024  |  Security & Fraud

Push payments fraud in the U.K. increased in volume last year, while declining in value. That’s according to a report issued Thursday (Aug. 1) by...

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UK Regulators Investigating Benefits, Risks of Digital Wallets
UK Regulators Investigating Benefits, Risks of Digital Wallets
July 15, 2024  |  Payment Methods

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...

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UK Payments Regulator Won’t Delay Fraud Reimbursement Rules
UK Payments Regulator Won’t Delay Fraud Reimbursement Rules
June 10, 2024  |  Fraud Prevention

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...

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Reimbursement Backlash Forces Hemsley Out at UK’s Payment Systems Regulator
Reimbursement Backlash Forces Hemsley Out at UK’s Payment Systems Regulator
June 02, 2024  |  Regulation

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...

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UK Regulator Opens the Door for Credit Card Data Reporting Mandates
UK Regulator Opens the Door for Credit Card Data Reporting Mandates
May 21, 2024  |  Credit Cards

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...

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