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Payments regulatory news, March 2021 # 2 | Hogan Lovells


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Recent regulatory developments focussed on the payments sector. See also our General Regulatory News of broad relevance in the Related Materials links.
Contents
APP scams: LSB publishes CRM Code review roadmap
Contactless payments: FCA PS21/2 on amendments to single and cumulative transaction thresholds
Following its consultation in CP21/3, the UK Financial Conduct Authority (FCA) has published a policy statement, PS21/2, on amendments to the single and cumulative transaction thresholds for contactless payments.
The FCA summarises the responses it received on proposed changes relating to the contactless payments limits and confirms that it has decided to amend the contactless exemption in Article 11 of its technical standards on strong customer authentication (SCA-RTS) to increase the single transaction threshold for contactless card payments from £45 to £100 and the cumulative transaction thres ....

United Kingdom , United Kingdom Financial Conduct Authority , Technical Standards , Strong Customer Authentication , Secure Methods , Lending Standards Board , Contingent Reimbursement Model Code , ஒன்றுபட்டது கிஂக்டம் , ஒன்றுபட்டது கிஂக்டம் நிதி நடத்தை அதிகாரம் , தொழில்நுட்ப தரநிலைகள் , வலுவான வாடிக்கையாளர் அங்கீகார , பாதுகாப்பானது முறைகள் , கடன் தரநிலைகள் பலகை , தொடர்ந்து கொடுக்கப்படுவதுடன் மாதிரி குறியீடு ,

UK Payments Regulation – Changes Are Coming | K&L Gates LLP


On 28 January 2021, the Financial Conduct Authority (FCA) published a consultation paper (CP21/3)
1 proposing various changes to the UK regulation of payment services and electronic money. Most of the proposed changes relate to clarification or expansion of the existing FCA guidance contained in the document “Payment Services and Electronic Money – Our Approach” (Approach Document). There are also proposed changes to the substantive regulatory requirements.
The consultation closes on 24 February 2021 in respect of the proposed changes to the contactless payment limits (see below); it closes on 30 April 2021 with respect to all other aspects.
We discuss here the key proposals and their potential implications. ....

United Kingdom , Payment Services , Payment Services Regulations , European Banking Authority , Kl Gates , Commission Delegated Regulation , Financial Conduct Authority , Payment Services Directive , Electronic Money , Approach Document , Delegated Regulation , Secure Open Standards , Technical Standards , Strong Customer Authentication , Secure Methods , Communication Instrument , Temporary Permission Regime , Perimeter Guidance , ஒன்றுபட்டது கிஂக்டம் , கட்டணம் சேவைகள் , கட்டணம் சேவைகள் ஒழுங்குமுறைகள் , ஐரோப்பிய வங்கி அதிகாரம் , க்ல் வாயில்கள் , நிதி நடத்தை அதிகாரம் , கட்டணம் சேவைகள் உத்தரவு , மின்னணு பணம் ,