Payments

On 2 April 2025, the Payment Systems Regulator (PSR) published a consultation paper, CP25/1, on proposed remedies to the issues that it found in the final report of its market review into scheme and processing fees.

Background

Following increases in card scheme and processing fees paid by UK businesses, the PSR has

On 27 March 2025, the Financial Stability Board (FSB) announced the establishment of the Forum on Cross-border Payments Data.

The Forum will be a platform for dialogue, information exchange, and research, helping to identify and address inconsistencies in global data frameworks. An advisory body comprised of private sector representatives will also be created

On 10 March 2025, the European Central Bank (ECB) issued a press release stating that it had positively concluded its exploratory work for offering a Verification of Payee (VoP) service for payment service providers (PSPs) building on the services developed by the Banco de Portugal and Latvijas Banka.

The