The FCA are proposing a new regulatory regime, which would require banks and building societies designated by the Government to assess and fill gaps, or potential gaps, in cash access provision that significantly impact consumers and businesses.
The Future of Payments review aims to consider how payments are likely to be made in the future and make recommendations on the steps needed to successfully deliver world leading retail payments, further boosting UK fintech competitiveness.
The Payment Systems Regulator's first annual review of its Specific Direction 12 (SD12), which is designed to ensure that LINK:
The Payment System Regulator (PSR) has launched a market review of scheme and processing fees, looking at competitive constraints in card payment systems.
LINK is a network of Card Issuers and ATM providers that allows cardholders to use their cards to withdraw cash at any ATM connected to the LINK network where the ATM provider is not the same institution as the cardholder’s issuing bank.
The purpose of this specific direction is to require the operator of LINK to:
HM Treasury has launched a further consultation on legislative proposals to secure long-term access to cash.
The Payment Systems Regulator (PSR) has published its inaugural Five-Year Strategy for consultation. The draft Strategy identifies strategic priorities to ensure access to relied upon payment methods such as cash and promote competition between other forms of digital payment to reduce processing costs for businesses and consumers
The Payment Systems Regulator is conducting its second annual review of Specific Direction 8 (SD8), which is designed to make sure LINK does all it can to fulfil its public commitments to maintain the broad geographic spread of free-to-use ATMs.
The call for views looks at four key areas:
The Payment Systems Regulator (PSR) has launched a consultation on the interim report for its market review into the supply of card acquiring services.
HM Treasury has launched a call for evidence on access to cash. Evidence received during this process will direct the Government as it considers how to protect long-term access to cash after committing to legislation at the March 2020 Budget.
