On 15 May 2025, the Payment Systems Regulator (PSR) published a thought piece on ‘The story so far: A snapshot of what we’ve seen since our APP scams reimbursement requirement went live’. The publication includes reflections from PSR managing director David Geale on what the PSR has seen since the authorised push payment (APP) scams reimbursement requirements were implemented.

Mr Geale explains that, whilst implementation of any new policy can be challenging as firms train staff and roll out the policy to consumers, the data and stakeholder feedback from the first few months have demonstrated that the policy has been successfully implemented and more consumers have been protected. The PSR has found that a high proportion of APP scam victims are being reimbursed consistently across a larger number of payment service providers (PSPs), and although it is too early to draw firm conclusions, it has not seen evidence of spikes in claim volumes that some had been concerned might occur under the policy. Mr Geale also notes that the PSR is seeing PSPs starting to collaborate more in the effort to prevent APP scams.

Next steps

The PSR intends to continue monitoring progress alongside the Financial Conduct Authority and to share further updates. An independent review on the effectiveness of the policy will begin in October 2025 and the PSR will continue to engage with industry stakeholders and consumer representatives on their experiences of the policy.