Pay.UK shares the Bank of England’s (the Bank) view of the opportunities and challenges facing payments and banking in the UK, as set out in its discussion paper ‘The Bank of England’s approach to innovation in money and payments’.
Pay.UK welcome the Payment Systems Regulator’s (PSR) call for views on the phased expansion of Variable Recurring Payments (VRP), with a focus on Phase 1 and the use cases that the PSR is proposing.
Pay.UK welcomes this timely review and the opportunity it provides to set a consolidated and coherent set of public policy priorities for UK payments.
Addressing fraud across payment systems is a critical priority.
Pay.UK responds to consultation on the introduction of a digital pound
Pay.UK welcomes the steps taken by HMT to enable the PSR to define a mandatory reimbursement requirement, which will ensure victims of APP scams are not left out of pocket.
Recommendations following a call for information on the proposed Faster Payment System rules change