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Financial Services sector - Payment Matters Hub

Welcome to our Payment Matters hub. Here you'll find past editions of our popular payment services briefing, which rounds up payments sector news from the UK, Europe and beyond.

Latest: Payment Matters 51

October 2021

Read edition 51 here >

This edition includes:


1. Draft Delegated Regulation supplementing Directive (EU) 2015/2366 is currently with the European Commission

2. UK Competition Authority Approves Use of Variable Recurring Payment Sweeping

3. The European Banking Authority publishes clarifications to issues raised in relation to Application Programming Interfaces

4. Open Banking leading to ‘Open Finance’

5. JURI report on proposed cross-border payments Regulation



Past issues: 2021 (click to expand)

Payment Matters 50

June 2021

Read edition 50 here >

This edition includes:


1. The Financial Conduct Authority (FCA) extends the deadline for implementing Strong Customer Authentication (SCA) for e-commerce transactions

2. The Payment Systems Regulator (PSR) issues Call for Views on Phase 2 of Confirmation of Payee (CoP)

3. The FCA issues “Dear CEO” letter to the UK’s e-money businesses

4. The European Banking Authority (EBA) publishes revised Guidelines on major incident reporting under the revised Payment Services Directive

5. The FCA publishes guidance for firms on the fair treatment of vulnerable customers

6. The FCA and PSR issue joint statement on access to cash in the UK

7. The Bank of England’s discussion paper on central bank digital currencies (CBDCs) and stablecoins

8. The PSR has published its proposed new 5 year strategy

9. The Competition Market Authority (CMA) publishes feedback received regarding UK Finance’s “Future Entity” to replace the Open Banking Implementation Entity (OBIE)

10. The Open Banking Implementation Entity (OBIE) has publishes the latest Open Banking standard

11. Germany to implement ‘travel rule’ for crypto assets transfers

12. ECON report: ECB to regulate EU stablecoins

13. Tunisia’s Digital Payment System - Ensuring Payment Security without hindering the Development of Digital Payments


Payment Matters 49

March 2021

Read edition 49 here >

This edition includes:

1. UK Finance publishes plans for Open Banking and the Competition and Market Authority (CMA) consults on the Open Banking “Future Entity”

2. The Financial Conduct Authority (FCA) consults on changes to the SCA-RTS, Approach Document and Handbook

3. Changes to UK contactless card payment limits

4. Developments in Open Finance – FCA issues Feedback Statement and Berlin Group publishes a first version of its Certification Process document

5. The EBA seeks to ensure the removal of obstacles to account access under the revised payment services directive (PSD2)

6. The introduction of Confirmation of Payee (CoP) and the Contingent Reimbursement Model (CRM) for payment initiation service provider (PISP) payments

7. The Lending Standards Board (LSB) publishes its report on the CRM Code

8. The Payment Systems Regulator (PSR) issues calls for views on APP scams and protection in interbank payments

9. The European Central Bank (ECB) issues Opinion on proposed codified Regulation on cross-border payments in EU

10. European Commission publishes targeted consultation on SFD review

11. Towards Instant Payments as the new normal

Past issues: 2020 (click to expand)

Payment Matters 48

December 2020

Read edition 48 here >

This edition includes:

Spotlight article: UK Payment Systems Regulator announces more detail on Strategy for future Competition and Regulatory Enforcement of Payments Supply Chain

1. The use of eIDAS certificates to identify third party payment providers post-Brexit

2. The European Banking Authority (“EBA”) publishes consultation on major incident reporting under the revised Payment Services Directive (“PSD2”)

3. The industry calls for updated guidance on the interaction between GDPR and PSD2

4. The future of central bank digital currencies

5. HM Treasury closes Call for Evidence on access to cash in the UK

6. The Bank of England publishes updated guidance regarding ISO20022

7. European Central Bank publishes a consultation on the Eurosystem oversight framework

Payment Matters 47

September 2020

Read edition 47 here >

This edition includes:

1. HM Treasury’s Payments Landscape Review: Call for Evidence

2. The FCA finalised guidance and ‘Dear CEO’ letter on safeguarding

3. The Payment Systems Regulator (“PSR”) seeks feedback before launching its new strategy later this year

4. UK Finance publishes Strong Customer Authentication roadmap

5. Industry representatives begin to consider what phase 2 of confirmation of payee (“CoP”) may look like

6. PSR publishes interim report in market review of card-acquiring services

7. The European Payments Initiative – Another Potential Payment Option

8. Final version of the UAE Crypto Assets Regulations due in the coming weeks

9. Coronavirus lockdown increases fraud in financial markets in the Netherlands

10. China set to widen pilot trials of central bank digital currency

11. COVID 19 - Tunisia's Entry into Digitalization

12. A CFPB Data Access Rule Could Be a Win for Open Banking in the US

Payment Matters 46

June 2020

Read edition 46 here >

This edition includes:

1. The European Banking Authority (“EBA”) has issued an Opinion on elements which could constitute an obstacle under Article 32(3) of the RTS

2. The FCA extends deadline for applying SCA to e-commerce transactions

3. The EBA issues clarification on the use of signatures as a behavioural biometric for the purpose of SCA

4. The FCA has updated its guidance under PERG (Question 16 - “What is a payment account?”)

5. The European Banking Federation (“EBF”) has issued new guidance on the amended Cross-Border Payments Regulation

6. The Lending Standards Board (“LSB”) publishes its summary report on the implementation of the Contingent Reimbursement Model Code (“CRM Code”)

7. The FCA Draft Guidance on Coronavirus and safeguarding Customers’ funds

8. The FCA publishes new guidance on customers’ ability to make withdrawals from restricted access accounts

9. How will the COVID 19 pandemic impact the decline of cash in the industry?

10. Retailers and wholesalers call for urgent amendment of card fees regulation

11. China has started pilot trials of central bank digital currency

Payment Matters 45

April 2020

Read edition 45 here >

This edition includes:

1. The impact of COVID 19: Regulatory updates

2. Competition and Markets Authority: Open Banking

3. EU Consultation on retail payments strategy for the EU

4. UK regulators’ view on the payments sector

5. New Economic Crime Levy issued under UK Government’s new Budget

6. The interim funding arrangement for compensating victims of Authorised Push Payment (“APP”) scams extended to 31 December 2020

7. New recordkeeping obligations to apply to Payment Service Providers (“PSPs”) from 1 January 2024

8. What FedNow Means for Faster Payments in the U.S.

9.Towards stronger authentication of remote card payments

10. Bank Negara Malaysia Releases Digital Banking Consultation Paper

Payment Matters 44

January 2020

Read edition 44 here >

This edition includes:

1. Open Finance - What’s in it for the industry?

2. Payment Systems Regulator issues Call for Input on competition issues arising in the New Payments Architecture

3. The Payment System Regulator publishes final merchant survey questionnaire in card-acquiring market review

4. OBIE’s proposal for a Revised Open Banking Roadmap

5. The European Banking Authority (EBA) updates fraud reporting Guidelines

6. The Payment Systems Regulator (PSR) sets out its plans for 2020!

7. Gambling Commission bans payment by credit card

8. UK Finance highly critical of regulatory co-ordination

9. International - Mobile Payments in the Nordics and Project 27

Past issues: 2019 (click to expand)

Payment Matters 43

October 2019

This edition includes:

1. The Financial Conduct Authority (FCA) has announced a 6 month transitional period for Open Banking in the UK

2. The FCA agrees implementation periods for to the application of SCA

3. Industry developments regarding the implementation of Confirmation of Payee (CoP)

4. Authorised Push Payment Fraud – Faster Payments Fraud Levy

5. The EBA Working Group publishes latest set of clarifications regarding the use of APIs

6. Industry developments regarding the amended cross-border payments Regulation

7. The Payment System Regulator publishes updates on its approach to conducting profitability analysis and plan of work for a review into the acquiring market  

8. The PSR issues data use response paper

9. The European Payments Council issues Brexit “no-deal” impact information on SEPA transactions

10. US Federal Reserve announces plans for real time payment system

Payment Matters 42

July 2019

1. European Banking Authority publishes Opinion on SCA

2. UK government publishes a consultation regarding the extension of Open Banking services to a broader range of products/sectors

3. Non-bank payment service providers safeguarding under review

4. UK Finance issues good practice guidelines

5. UK Finance publish latest summary of the payments market, emphasising the need for access to cash in the UK

6. Data released by the Committee on Payments and Market Infrastructures demonstrates a dip in correspondent bank relationships

7. E-money firms express concerns over AML changes

8. The Bank for International Settlements published a note on the increasing introduction of big technology firms into financial services

9. Payment Systems Regulator issues access and governance report

10. Mark Carney delivers Mansion House speech

Payment Matters 41

May 2019

  • 1. Strong customer authentication deadline rapidly approaching
  • 2. The API evaluation working group publishes its latest round of clarifications
  • 3. The European Banking Authority clarifies fraud rate rules
  • 4. European banks express concerns regarding the implementation of fraud reporting requirements
  • 5. Confirmation of payee deadline extended
  • 6. Regulation amending regulation on cross-border payments published in the Official Journal
  • 7. Preliminary ruling on interpretation of Articles 2 and 58 of the Payment Services Directive (PSD)
  • 8. The Financial Conduct Authority publishes Duty of Care feedback statement
  • 9. The European Central Bank publishes a report on card payments in Europe

Payment Matters 40

March 2019

Payment Matters 39

January 2019

Past issues: 2018 (click to expand)

Payment Matters 37

October 2018

  • The Authorised Push Payment (“APP”) Scams Steering Group publishes interim Contingent Reimbursement Model (“CRM”) for consultation
  • Financial Conduct Authority (“FCA”) consults on its approach to the final Regulatory Technical Standards and European Banking Authority (“EBA”) guidelines under the Revised Payment Services Directive (“PSD2”)
  • The Open Banking Implementation Entity (“OBIE”) publishes Open Banking Standards version 3.0
  • HM Treasury plans for the on-shoring of Financial Services post-Brexit
  • The FCA consults on the proposed new Payment Services and Electronic Money (Principles for Business and Conduct of Business) Instrument 2018
  • The European Parliament’s Committee on Economic and Monetary Affairs consider recent proposals in relation to cross-border payment charges
  • The Financial Ombudsman issues a newsletter regarding authorised payment fraud
  • The Global Financial Innovation Network consults on plans to implement a ‘global sandbox’

    Payment Matters 36

    August 2018 

    Payment Matters 35

    June 2018


    Europe and beyond

    Payment Matters 34

    May 2018


    Europe and beyond

     Read Payment Matters No. 34: UK, Europe and beyond

    Payment Matters 33

    April 2018


    Europe and beyond

    Read Payment Matters 33: UK and Europe and beyond

    Payment Matters 32

    February 2018


    Europe and beyond

    Read Payment Matters 32: UK and Europe and beyond

    Payment Matters 31

    January 2018


    Europe and beyond

    Read Payment Matters 31: UK and Europe and beyond

    Past issues: 2017 (click to expand)

    Payment Matters 30

    June 2017


    Read Payment Matters 30: UK

    Europe and beyond

    Read Payment Matters 30: UK and Europe and beyond

    Payment Matters 29

    May 2017


    Read Payment Matters 29: UK

    Europe and beyond

    Read Payment Matters 29: UK and Europe and beyond

    Payment Matters 28

    April 2017


    • FCA and PSR publish consultations on their approach to PSD2
    • The PSR publishes its final Terms of Reference for APP Scams
    • High Court makes reference to ECJ for preliminary ruling on PSD2 interpretation
    • FCA highlights work to deal with contactless card fraud
    • HMT issues Regulatory Innovation Plan
    • Spotlight: The FCA, Project Innovate and Blockchain: business as usual or a new “law of the horse”?

    Europe and beyond

    • EPC publishes ‘Payment Threats Trends Report’
    • EC opens fintech consultation
    • ECON issues draft RTS on strong customer authentication and secure communication under PSD2 briefing note
    • ECB Explanatory Note: the co-existence of the proposed TIPS service with other instant payment services

    Read Payment Matters 28: UK and Europe and beyond 

    Past issues: 2016 (click to expand)

    Payment Matters 27

    December 2016


    • PSR responds to Which? super-complaint
    • New guide on UK interbank payment schemes published
    • PSR publishes ownership and competitiveness of infrastructure provision remedies consultation
    • UK payments industry undergoes shake up
    • Industry sends open letter in favour of retaining a risk-based approach to strong customer authentication

    Read Payment Matters 27: UK

    Europe and beyond

    • EBA publishes draft RTS on cooperation and exchange of information for passporting
    • EBA public hearing presentation released
    • EBA consultation on guidelines for reporting operational and security incidents under PSD2
    • EPC publishes SEPA Instant Credit Transfer Scheme Rulebook
    • EBA updates ECON on strong customer authentication and common and secure communication
    • EPC updated SEPA rulebooks
    • ECB publishes SIPS Regulation consultation

    Read Payment Matters 27: Europe and beyond

    Payment Matters 26

    November 2016


    • PSR publishes application of the Interchange Fee Regulation phase 2 policy statement
    • Payment Services and E-money Stakeholder Liaison Group’s website update
    • Payment Systems Operator Delivery Group established
    • PSR issues financial penalty scheme consultation
    • FCA feedback statement on call for input on approach to current payment services regime

    Read Payment Matters 26: UK

    Europe and beyond

    • BCBS publishes Consultation Document on revised Guidelines on Correspondent Banking
    • Industry bodies respond to EBA Consultation Paper on draft RTS on Strong Customer Authentication
    • EBA responds to European Parliament’s letter highlighting PSD2 RTS concerns
    • EPC launches complaints webpage
    • Israel looks to PSD2 for guidance on new Payment Services Regulation
    • Implementation of Payment Accounts Directive in Bulgaria

    Read Payment Matter 26: Europe and beyond

    Payment Matters 25

    October 2016


    • Bank of England proposes code of practice and supervisory statement on governance in recognised payment system operators
    • Payments UK updates Code of Conduct for indirect access to UK payment services
    • Which? files super-complaint on safeguards for fraudulent bank transfers
    • UK implementation of the Payments Accounts Directive
    • Bank of England consults on new real time gross settlement service
    • Payments UK and Faster Payments respond to Payments Strategy Forum’s draft strategy “Being responsive to user needs” consultation

    Read Payment Matters 25: UK

    Europe and beyond

    • EBA launches consultation on fee terminology and disclosure documents under Payment Accounts Directive
    • EBA launches consultation on draft guidelines on the criteria for minimum amount of professional indemnity insurance under PSD2
    • Monetary Authority of Singapore consults on changes to payments regulatory framework and establishing a National Payments Council
    • Spotlight: The Fourth Money Laundering Directive (4MLD)

    Read Payment Matters 25: Europe and beyond

    Payment Matters 24

    September 2016


    • CMA publishes Final Report on Retail Banking Market Investigation
    • FCA issues Payment Accounts Regulations policy statement
    • UK payments infrastructure in need of reform

    Read Payment Matters 24: UK

    Europe and beyond

    • EBA opens consultation under revised PSD2
    • EBA publishes draft guidance on separation of payment card schemes and processing entities
    • Spotlight: PSD2 and your communications strategy

    Read Payment Matters 24: Europe and beyond 

    Payment Matters 23

    July 2016


    • EBA launches innovation discussion paper
    • Possible consultation to transpose revised PSD2
    • Bank of England promoting FinTech
    • Payments Strategy Forum Launches its Draft Strategy
    • PSR’s Final Report on Indirect Access
    • Blockchain and Bitcoin
    • World Class Payments Report
    • MasterCard in £19bn UK interchange fees class action

     Read Payment Matters 23: UK

    Europe and beyond

    • EBA Clearing announces support for pan-European payment platform
    • EPC consults on mobile payments
    • Chinese card market opening up to foreign firms
    • O2 Germany to launch mobile banking service
    • EPC issues the Single Euro Cash Area framework
    • German competition authority finds that restrictions of online payment services breach antitrust rules

    Read Payment Matters 22: Europe and beyond

    Issue 22

    April 2016


    • FCA publishes summary of consultation responses in relation to the regulatory barriers to innovation
    • Update on the regulatory sandbox
    • PSR publishes report on the supply of indirect access to payment systems
    • Draft Handbook changes and draft guidance on the Payment Accounts Regulations

     Read Payment Matters 22: UK

    Europe and beyond

    • Launch of SEPA Credit Transfer and SEPA Direct Debit rulebook consultations
    • PSD2 - EBA Consultation
    • Payments innovation - market news
    • Spotlight on... the Interchange Fee Regulation

    Read Payment Matters 22: Europe and beyond

    Issue 21

    February 2016


    • FCA extends expiry date of confirmed BCOBS industry guidance to 31 December 2016
    • PSR consults on its proposed fees for 2016/17
    • PSR report indicates an improvement in access to payments systems and increased competition
    • Payments UK launches IBAN-Only directory
    • American Express not exempt from Interchange Fee Regulations
    • Spotlight on key dates in 2016

    Read Payment Matters 21: UK

    Europe and beyond

    • PSD2 published
    • Apple in discussions on new P2P payments service
    • Walmart to enter mobile payments space

    Read Payment Matters 21: Europe and beyond

    Past issues: 2015 (click to expand)

    Issue 20

    November 2015


    • The Payment Card Interchange Fee Regulations 2015
    • The Treasury publishes responses to its consultation on implementing the Payment Accounts Directive
    • Payments UK launches code of conduct on providing indirect access to UK payment systems for PSPs
    • Payments Strategy Forum publishes key strategic documents
    • Spotlight on the Payment Accounts Directive

    Read Payment Matters 20: UK

    Europe and beyond

    • World Bank and CPMI consult on payment aspects of financial inclusion
    • Cross-border payments to be made easier under the SEPA Regulation
    • European Parliament adopts PSD2

    Read Payment Matters 20: Europe and beyond

    Issue 19

    October 2015


    • FCA thematic review regarding unauthorised transactions
    • Consultation on PSR regulatory fees for 2015/16
    • HMRC consults on extending its data-gathering powers
    • Consult Hyperion consider the future for the UK payments industry
    • PSR publishes final guidance on concurrent competition powers
    • HM Treasury consults on Interchange Fee Regulation
    • Payments UK publishes report on its World Class Payments project

    Read Issue 19: UK

    Europe and beyond

    • ECON Publishes Supplementary Report on PSD2
    • Landmark draft ISO 20022 standard for real-time payments produced
    • Fingerprint validation for ATMs in South Africa

    Read Issue 19: Europe and beyond 

    Issue 18

    July 2015


    • Payments Strategy Forum established
    • FCA publishes final guidelines on competition concurrency powers
    • New high profile payments platforms launched
    • Payment Systems Regulator updates payments infrastructure market review
    • Payments Council now a trade association
    • FCA calls for input on terms and definitions for services which are linked to payment accounts and subject to fees
    • Payment Systems Regulator conducts market review into the supply of indirect access to payment systems

    Read Issue 18: UK

    Europe and beyond

    • European Commission sends formal charges to MasterCard concerning competition law infringements
    • Treasury consults on the implementation of the EU payment accounts directive
    • EBA outlines its upcoming initiatives for the regulation of retail payments
    • Spotlight on... PSD2

    Read Issue 18: Europe and beyond


    Issue 17

    June 2015


    • PSR progresses payments industry oversight in the UK
    • UK among countries unable to comply with EBA guidelines on retail payments
    • Cashless payments overtake the use of notes and coins
    • Standardisation of ISO 20022 real-time payments
    • ATM Code of Conduct updated

    Read Issue 17: UK

    Europe and beyond

    • Agreement reached on the revised Payment Services Directive
    • Regulation on interchange fees for card-based payment transactions
    • Upcoming initiatives from the EBA for the regulation of retail payments
    • US regulator orders PayPal, Inc to pay $25 million

    Read Issue 17: Europe and beyond

    Issue 16

    April 2015


    • PSR directions to start from 30 April 2015
    • The UK Cards Association launches 2015 manifesto
    • Payment Services (Amendment) Regulations 2015 come into force
    • Banking Act 2009 (Inter-Bank Payment Systems) (Disclosure and Publication of Specified Information) (Amendment) Regulations 2015
    • Bank of England speech on stability of payment systems
    • Payment Systems Regulator confirms how it will regulate payments industry
    • Current Account Switch Service enhancements come into effect for consumers and businesses
    • Mobile payment apps usage is on the increase in the UK

    Read Issue 16: UK

    Europe and beyond

    • European Parliament adopts MIF Regulation on interchange fees for card-based payment transactions
    • ECB publishes guide for assessment of card payment schemes against Eurosystem's oversight standards
    • Commission Staff Working Document on the movement of capital and the freedom of payments
    • Implementation monitoring of the PFMI
    • Internet card fraudster jailed

    Read Issue 16: Europe and beyond

    Issue 15

    February 2015


    • PSR completes leadership team with senior appointments
    • PSR publishes consultation paper on competition concurrency guidance
    • PSF working group formed
    • CASS update

    Read Issue 15: UK

    Europe and beyond

    • PSD2 & MIF Regulation update
    • Visa launches geo-location service to reduce purchase declines
    • Expansion of Visa Token Service
    • PSPs to adhere to EBA's security guidelines
    • EPC publishes updates to the SEPA DD Core Rulebook and B2B Rulebook

    Read Issue 15: Europe and beyond

    Issue 14

    January 2015


    • Payment Systems Regulator updates
    • New basic fee-free bank accounts to help millions manage their money
    • Cheque photo payments to be extended by Barclays
    • UK's European Scrutiny Committee clears PSD2 and MIF Regulation from scrutiny
    • New webpage on E-money Regulations
    • UKRN's statement on consumer engagement and switching
    • Payments Council announces government support for richer data

    Read Issue 14: UK

    Europe and beyond

    • EU agrees caps on debit and credit card interchange fees
    • EU Council’s final compromise proposal on PSD2
    • MasterCard secure digital payment services come to China
    • 2015 outlook of regulatory initiatives
    • EPC overview on mobile payments initiatives
    • EBA publishes final guidelines on security of internet payments
    • Responses to EBA consultation paper

    Read Issue 14: Europe and beyond

    Past issues: 2014 (click to expand)

    Issue 13

    November 2014


    • PSR Consultation - A new regulatory framework for payment systems in the UK
    • New thumbprint technology for MasterCard payments
    • Code of Conduct for MMPs
    • Arcadia Group Brands Ltd -v- Visa Inc
    • HM Treasury consults on designation of payments system
    • Payments Council’s first full-year results for Current Account Switch Service
    • Meltdown of UK payments system
    • HM Treasury’s consultation outcome on cheque imaging

    Read Issue 13: UK

    Europe and beyond

    • French payments via Twitter
    • Vein-recognition ATMs launched in Poland
    • EU Council’s presidency compromise on MIF Regulation
    • IOSCO and CPMI’s report on recovery of financial market infrastructures
    • ECB publishes revised SecuRe Pay mandate
    • EBA consults on implementation of guidelines on internet payments security
    • EPC consults on changes to Scheme Management Internal Rules
    • Hong Kong’s proposed new payments regulatory regime
    • EU Council issues further compromise texts on PSD2
    • EBF’s statement on payment initiation services

    Read Issue 13: Europe and beyond

    Issue 12

    October 2014


    • FCA legislative update: cheque imaging and payment systems access
    • Payments Council report on impact of current account switch service
    • FCA thematic review report on mobile banking and payments
    • Bitcoin could pose threat to financial stability of UK, warns Bank of England
    • PRA annual assessment of category 5 credit unions
    • FCA PSR presentation slides available
    • CPSS - new charter and renamed as CPMI
    • Payments Council report on electronic payment needs of low-income people
    • CMPI report on non-banks in retail payments

    Read Issue 12: UK

    Europe and beyond

    • PAD published in the OJ of the EU
    • SEPA Credit Transfer and SEPA Direct Debit – new ERPB chaired by ECB
    • EU Council presidency compromise on MIF Regulation
    • ECJ dismisses MasterCard appeal
    • EU Council presidency compromise on PSD2
    • CMA statement on MasterCard and Visa interchange fee investigations
    • ECB identified four key payment systems
    • World Bank acknowledged importance of digital payments
    • EC President-elect sets out goals for Commissioner for Financial Stability, Financial Services and Capital Markets Union
    • ECB own-initiative opinion on proposed Cyber-Security Directive
    • Is Europe ready for e-Identity?

    Read Issue 12: Europe and beyond

    Issue 11

    August 2014


    • BBA reports revolution in the way we bank
    • UK retail finance market likely to face CMA investigation
    • New appointments to Payments Council Board
    • Latest account switching results
    • Checklist released to help with account switching
    • Corporate Governance within the PSR
    • Contactless payments on TfL services

    Read Issue 11: UK

    Europe and beyond

    • SEPA landmark reached
    • A step closer to basic payment services for all
    • US playing catch up on Chip and PIN
    • ECB’s opinion supports PSD2
    • Alliance calls for urgent action on card fees
    • EPC invites participation in new poll
    • EPC publishes guidance on reason codes for SDD R-transactions

    Read Issue 11: Europe and beyond

    Issue 10

    July 2014


    • Proposed changes to the FCA Handbook for current accounts
    • FCA to review credit card market
    • Payments Council input for CMA study on current account market
    • Application of Late Payment of Commercial Debts (Interest) Act 1998 to international contracts
    • UK declaration on MLD4 and WTR
    • House of Commons European Scrutiny Committee clears revised WTR proposal from scrutiny
    •  Online current account comparison moves a step closer
    • Regulator prioritises account number portability
    • BBA publish report on the UK banking industry
    • Cheque imaging on the way
    • FCA updated webpage: Payment Systems
    • Tougher rules for payday lenders take effect
    • CMA and FCA to work together to ensure a co-ordinated approach under PSRs

    Read Issue 10: UK

    Europe and beyond

    • European Commission publishes criminal sanctions study
    • Continued examination of PSD2
    • Status of ECON codecision files outlined
    • EPC publishes overview of mobile payments initiatives in SEPA and beyond
    • FATF reports on virtual currencies and potential AML and CFT risks
    • Focused on payment services and M&A

    Read Issue 10: Europe and beyond

    Issue 9

    June 2014


    • Paym operational
    • Code of Practice on misdirected payments
    • FCA update on calls for inputs on payment systems regulation
    • Current account switches on the rise

    Read Issue 9: UK

    Europe and beyond

    • The EU payments legislative package is considered further by the House of Commons Scrutiny Committee
    • Interchange fees - further developments
    • ECJ preliminary ruling on PSD provisions
    • ECB issues report on card payments in Europe
    • EPC consults on changes to SCT and SDD Rulebooks
    • Euro Retail Payments Board’s first meeting summary
    • Directive on Payment Accounts approved
    • Licensing of clearing and settlement institutions in the Netherlands
    • Information in respect of MAC

    Read Issue 9: Europe and beyond

    Issue 8

    April 2014


    • FCA publishes details of new regulator for payment systems and a “Call for Inputs”
    • Plans unveiled to modernise cheque payments
    • Payments Council confirms new mobile payments service to be called ‘Paym’
    • Government to make it easier to check that you’ve got the right bank deal
    • Bank of England: “Clearing houses as system risk managers”
    • New chair for Payments Council announced
    • Sainsbury’s Supermarkets v Mastercard

    Read Issue 8: UK

    Europe and beyond

    • Commission accepts commitments from Visa Europe about credit card inter-bank fees
    • Current status of the proposed PSD2 and MIF Regulation
    • Regulation amending SEPA Migration Regulation published in Official Journal of the EU (OJ)
    • Council confirms agreement with European Parliament on payment accounts
    • Outcome of EU consultation on security of payment account access services
    • Bitcoin not a currency says Japanese government

    Read Issue 8: Europe and beyond

    Issue 7

    24 February 2014


    • The House of Commons European Scrutiny Committee published its latest report on 7 February 2014
    • Multilateral Interchange Fee Regulation could be bad for UK Acquirers

    Read Issue 7: UK


    • Round Table Discussion considers Security Breaches connected to PSD II
    • Further Amendments to PSD II tabled
    • EPC publishes final version of white paper on mobile wallet payments
    • Last chance saloon for banks and payment providers on SEPA migration

    Read Issue 7: EU


    • Snapchat and Skype Hacks results in data security breaches by the App
    • New Rules on Prepaid Cards in Canada
    • Reporting information

    Read Issue 7: Worldwide

    Issue 6

    January 2014

    • HM Treasury’s new proposals for cheque depositing
    • UK Payments Council announces extension to authorising payments for multiple signatories
    • European Parliament proposes amendments to regulation on interchange fees
    • EBA warns consumers of risks from virtual currencies
    • European Parliament and Council to negotiate Payment Accounts Directive
    • Single Euro Payments Area (SEPA) updates

    Read Issue 6

    Past issues: 2013 (click to expand)

    Issue 5

    November 2013

    • HM Treasury announces policy on new Payments Systems Regulator
    • Payments Council publishes figures on new Current Account Switch Service
    • Bank of Scotland not liable for CHAPS transfer to wrong payee
    • Bank of England undergoes public consultation programme on the introduction of polymer banknotes
    • Council publishes a compromise proposal on Directive on Payment Accounts
    • Member States may prohibit handling charges without distinguishing between different payment instruments
    • Regulator says that banks can start with just £1million of capital
    • EPC invited suggestions for changes to SEPA rulebooks
    • Firms continue to invest in contactless payments, mobile payments and other alternatives
    • Contactless payment under fire for fraud risk (again)

    Read Issue 5

    Issue 4

    September 2013

    • The long awaited Payment Services Directive review
    • Addressing security risks
    • Consumer rights

    Read Issue 4

    Issue 3

    September 2013

    • Europe’s banks show concern over proposal for EU bank account Directive
    • HMRC to access information from card payment processors
    • FCA: Thematic Review on mobile banking and payments
    • Current account switch service announced by UK Payments Council
    • Payments credited to wrong account or released to the wrong person

    Read Issue 3

    Issue 2

    July 2013


    • Banks set to commit to retry system when processing payments
    • UK Payments Council seeks comments on the Payments Roadmap

    Read Issue 2: UK


    • Public Consultation on version 6.5 of the SEPA Cards Standardisation Volume
    • MasterCard in court challenge to EU ban on card fees
    • ECB to consult on draft regulation for systemically important payment systems
    • European Parliament to consider proposed Directive on payment accounts
    • European Commission closes investigation into development of standardised systems for e-payments

    Read Issue 2: Europe

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