All the updated news related to payment systems

All the news related to payment systems updated in real time

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Personal Finance

People will be able to see their own bank’s performance on bank transfer scams

People will be able to see how well their bank or building society might treat them if they were tricked into transferring money to a fraudster, under a regulator’s plans. The Payment Systems Regulator (PSR) has published its latest consultation on ...

09 Feb 2023 at 10:46

Personal Finance

Plans to reimburse bank transfer scam victims are flawed – Treasury Committee

Proposals to reimburse victims of bank transfer scams are fundamentally flawed, according to the Treasury Committee. The Government has previously said the Payment Systems Regulator (PSR) will be able to require banks to reimburse APP (authorised ...

06 Feb 2023 at 00:01

Personal Finance

Banks’ customers will have greater protections from APP scams under proposals

Banks and building societies will have stronger incentives to prevent scams happening in the first place, as well as having to reimburse victims who have been tricked into transferring money to a fraudster, under a regulator’s proposals. The ...

29 Sept 2022 at 01:01

Personal Finance

Banks will be required to reimburse APP scam victims from next year

New rules compelling banks to reimburse scam victims who have been tricked into paying fraudsters will come into force next year, a regulator has said. Most victims of authorised push payment (APP) fraud will be reimbursed within five ...

07 Jun 2023 at 15:58

Personal Finance

TSB highlights common purchase scams as shoppers gear up for Christmas

Purchase scams have made up more than half (55%) of authorised push payment (APP) fraud cases recorded by TSB so far this year, the bank has warned. As people prepare their shopping lists for Black Friday (November 29) and Christmas ...

12 Nov 2024 at 00:01

City

Vacancies remain at City watchdog despite hiring spree

The City watchdog managed to fill more than 100 vacancies during the summer and autumn, but one in 10 positions still remain empty, new figures show. Data released by the Financial Conduct Authority (FCA) in response to a Freedom ...

11 Jan 2023 at 15:37

Personal Finance

Views sought on later ‘go-live’ date for mandatory reimbursement of scam victims

The “go-live” date for new mandatory reimbursement rules in cases where people are tricked into transferring money to fraudsters could be pushed back by around six months. The Payment Systems Regulator (PSR) previously consulted ...

28 Sept 2023 at 15:41

Personal Finance

Over half of APP scams last year ‘carried out by fraudsters using social media’

Authorised push payment (APP) scams cost UK consumers £341 million last year, with social media platforms used by fraudsters to carry out more than half of the volume of incidents, according to figures from a regulator. APP ...

17 Dec 2024 at 00:01

City

Mastercard and Visa face cross-border fee caps after ‘unduly high’ increases

Mastercard and Visa look set to face a cap on their cross-border interchange fees after Britain’s payment watchdog raised concerns that they have increased charges to “an unduly high level”. The Payment Systems Regulator ...

15 Dec 2023 at 10:11

Personal Finance

Service to help prevent payments being misdirected notches up two billion checks

A name-matching service which helps to stop people mistakenly sending payments to the wrong person or a scammer has reached the milestone of two billion checks having been carried out, according to payments operator Pay....

08 Apr 2024 at 11:29

Tesco shoppers hit by payments issue for grocery deliveries

Tesco customers have reported problems making payments for shopping deliveries after an issue at the supermarket giant. The UK’s largest grocery chain said it has now resolved the problem, which was first reported on ...

15 Oct 2025 at 13:35

Personal Finance

New fraud refund mechanism could exclude a quarter of victims, TSB warns

TSB is urging a regulator to reconsider proposals which could mean one in four people who are tricked into transferring money to a fraudster being denied their money back. The bank said the Payment Systems Regulator ...

07 Jan 2023 at 00:01

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