In this issue: AG webinar slides on FCA standardised terms and definitions for payment accounts; CPMI publishes strategy on wholesale payments fraud; Joint guidelines on customer protection against risks from screen scraping and more...

 

UK

AG webinar slides on FCA standardised terms and definitions for payment accounts

Please email FRteamAG@addleshawgoddard.com, to request slides for our recent webinar. As noted in last week's issue, the Financial Conduct Authority (FCA) has published the final list of the most representative services linked to a payment account and subject to a fee within the meaning of Regulation 3 of the Payment Accounts Regulations. The move is part of the EU Payment Accounts Directive’s goal to improve the transparency and comparability of fee information in relation to payment accounts for consumers. Firms will be required to use the terminology in this list from 31 October 2018.

FCA, 30 April 2018

CPMI publishes strategy on wholesale payments fraud

The Committee on Payments and Market Infrastructures (CPMI) has published its strategy to reduce the risk of wholesale payments fraud related to endpoint security, which aims to encourage and help focus industry efforts to reduce the risk of wholesale payments fraud and, in doing so, support financial stability. The CPMI states that each CPMI member central bank, and the CPMI as a whole, is committed to acting as a catalyst for effective and coherent operationalisation of the strategy within and across jurisdictions and systems, and will monitor progress throughout 2018 and 2019 to determine the need for further action.

CPMI, 8 May 2018

Joint guidelines on customer protection against risks from screen scraping

UK Finance, the Financial Data and Technology Association (FDATA), the Electronic Money Association (EMA) and techUK have published voluntary guidelines and encouraged market behaviours under the revised Payment Services Directive (PSD2), which they urge all industry players to adopt and integrate into their practices.

UK Finance, 8 May 2018

PSR report on Scottish free-to-use ATM network

The Payment Systems Regulator (PSR) has commissioned a report from Europe Economics to provide insights on potential changes to the LINK interchange fee, specific to Scotland. The report provides an overview of the Scottish free-to-use (FtU) ATM network.

PSR, 3 May 2018

 

Worlwide

FNB rolls out biometric ATMs

First National Bank has announced a roll out of 50 new banking kiosks that validates a customer's identity using biometrics from their fingerprint.

Finextra, 9 May 2018

Key contacts

Amanda Hulme

Amanda Hulme

Partner, Head of Financial Regulation
London

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Fiona Ghosh

Fiona Ghosh

Partner, Commercial
United Kingdom

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Bruce Kilpatrick

Bruce Kilpatrick

Partner, Head of Competition
London

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William James

William James

Partner, Corporate
London

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