FIN.

Pay.UK call for information

Pay.UK has today published a call for information following a change request which was requested by UK Finance on behalf of seven of their members.  This change would introduce a new requirement to the Faster Payments Service which would require members to pay a Contingent Reimbursement Model Fee.

It is hoped that this change would support delivery of part of a voluntary mechanism that has been developed to help deal with instances of Authorised Push Payment (APP) Scams where no fault is attributed to the customer.  The CRM fee would therefore fund the reimbursement of all such eligible customers.

UK. Pay are seeking industry views on this change.  The feedback form can be accessed here with the deadline being 5pm on Tuesday 1 October 2019.

 

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Caroline Stevenson