Lucy HadrillThe PSR has published the minutes of a board meeting held on 20 January 2021. The board discussed various items on the PSR’s agenda, including:
- Access to Cash – the PSR is working closely with industry and the FCA to understand cash needs with an overall approach of seeking to protect access to case whilst longer-term solutions are being developed;
- The business of the FCA that is of relevance to the PSR, for example Strong Customer Authentication and limits on contactless payments;
- The PSR’s business planning and budget for 2021/22;
- Interchange Fee Regulation (IFR) – the board discussed the UK/EEA cross-border interchange fees caps that no longer exist under the EU IFR and the on-shored IFR following the end of the Brexit transition period;
- The PSR’s current and future enforcement work – the board agreed that a high-level strategic approach to enforcement should be developed that will complement the overall PSR strategy;
- New Payments Architecture Consultation Paper; and
- APP scams – the board was briefed on the proposal to issue a Call for Views on four possible measures for the Faster Payments Scheme and Bacs systems that could help prevent APP scams and protect customers who fall victim to them.
