Skip to content

Category: Regulatory

Regulatory 0

Payment Systems Regulator publishes 2020/21 annual plan

This morning the Payment Systems Regulator (PSR) published their annual plan and budget for 2020/21. Given that the plan was finalised before the impact of COVID19 had affected our daily lives, Chris Hemsley’s (PSR, Managing Director) ‘launch’ video explains that the PSR will need to adjust the plan to reflect the significance of the pandemic, whilst ensuring that payment systems […]

Regulatory 0

Voices of the EPA – Education the secret sauce

Education: the secret ‘sauce’ for the successful implementation of payments regulation It’s 1997 and Tony Blair has just been elected prime minister, Katrina and the Waves have won the Eurovision song contest and Cool Britannia is starting to swing. The new prime minster quickly set out his priorities for office and ‘education, education, education’ is placed at the very top […]

Regulatory 0

Payment System Regulator revises Directions for regulated parties

The Payment Systems Regulator (PSR) has today (5 March 2020) published revised versions of its General Directions, and Specific Direction 1. These are the ‘day one’ Directions the regulator published when it became operational in 2015. They cover communication with the PSR as well as payment systems’ access and governance arrangements. Following consultation, the PSR has updated these Directions to […]

Regulatory 0

Contactless Countdown

Strong Customer Authentication (SCA) arrived on the 14 September 2019 as part of the second Payment Services Directive (PSD2) and you may have seen it starting to impact your contactless payments. Unfortunately, not everyone was ready to comply with the requirements of the Article 11 exemption (Contactless Payments at Point of Sale) in the Regulatory Technical Standards on Strong Customer […]

Regulatory 0

A country wide problem- really?

Although the roll out of Strong Customer Authentication (SCA) is going to be a long and slow process and may even be modified by the authorities it is clear that SCA is already impacting purchases made on the high street. The picture above was taken this morning at the tills of a major UK retailer. Clearly a need for better […]

Regulatory 0

First Strong Customer Authentication contactless payment decline spotted in the “wild”

Just seen my first Strong Customer Authentication (SCA) related contactless payment decline in the “wild” in Cheltenham. Both the customer and the shop assistant both very confused by the declined payment and what they needed to do next. Interesting discussion took place and payment made via CHIP and PIN authentication. Why was the payment declined? Read my original blog “Why […]

Regulatory 0

Pay.UK’s Participant Advisory Council publishes annual report

The Participant Advisory Council (PAC) – the body that ensures that Pay.UK understands the needs of the industry by representing the interests of participants and advising Pay.UK on the impact of its decisions on them – has today published its annual report. The PAC seeks to improve the collaborative nature of the payments industry representing the interests of participants. The publication is available to […]