PRA expand deposit protection: What it means for EMIs & PIs
On 31st March 2023, the Prudential Regulation Authority (PRA) published policy statement PS2/23. The statement, in conjunction with the amendments made in PRA23/1, finalised
Authorised push payment fraud: Important Consultation
The Payment Systems Regulator (PSR) is proposing new measures to fight payment scams – and the Regulator issued a consultation paper (CP22/4) in September
Is your online platform a regulatory risk to your business?
Does your payment institution (“PI”) or electronic money institution (“EMI”) have an online platform whereby its customers can: view the balance of their payment
3 steps to that ensure your payment institution’s or electronic money institution’s outsourcing contracts comply with the FCA’s requirements
Outsourcing is a valuable tool and often critical in the operation of payment institutions and electronic money institutions. Given its importance, it is no
Common mistakes to avoid when drafting terms for your payment institution or electronic money institution
Nine common problems with the terms of payment institutions and electronic money institutions. Your terms and conditions form the foundation of the relationship between
Purchasing a PSP
Critical steps to take before purchasing a PSP Is your business considering purchasing a company with a payments licence or an electronic money licence
Treating Customers Fairly – Is One Set of T&Cs Enough?
Many authorised payment institutions and electronic money institutions have one set of terms and conditions for both their business and consumer customers. But, does it meet the ‘treating customers fairly’ threshold?
Do the transparency requirements on currency conversion charges (set out in Article 3b of the Cross Border Payment Regulations) apply to your UK PSP?
This blog post examines CBPR2 Article 3b legislation and when it applies, using several models. It also offers general points of guidance including the effect Brexit will have on the Cross Border Payment Regulation.