How does this legislation affect your organisation?

The PSR has placed an industry-wide legal requirement, via a direction on in-scope payment service providers (PSPs), to reimburse victims under certain circumstances (Specific Direction 20/SD20).

The PSR has published a list of potentially in scope PSPs on their website here and has written to PSPs explaining further about the regulation here.

The first step for PSPs in complying with SD20 is to register with Pay.UK to confirm that your organisation is in scope of the SD20 regulation, and to agree to be subject to the compliance monitoring regime. Please click here for more information How-to guide to registration

By registering you will legally attesting that you are in scope of SD20, answer other relevant questions to prepare for compliance and accept the simple Registration Terms & Conditions.

The PSR has mandated that all in-scope PSPs complete this step by 20 August 2024. Pay.UK will be updating the PSR on registrations at regular intervals. We recommend that PSPs register as soon as possible.

Registration is now open and can be accessed here

PSPs who have not yet read the FPS APP Reimbursement rules and Compliance Monitoring Process ahead of registering can do so via the links

To assist PSPs in implementing the APP Reimbursement policy Pay.UK is developing a Solution, the Reimbursement Claims Management Solution (RCMS) which will help PSPs comply with this new regulation. Learn more

Registration is now open and can be accessed here
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