Financial Conduct Authority sets out PSD2 requirements for UK payment service providers

FCA finalises revised Payment Services Directive (PSD2) requirements — Financial Conduct Authority — “As well as promoting innovation, PSD2 aims to improve consumer protection, make payments safer and more secure, and drive down the costs of payment services….The FCA has published the PSD2 Policy Statement which explains the changes we are making to our proposals following consultation… The FCA has published its Approach Document alongside this – this is designed to help firms navigate the payment services and e-money regulatory requirements, including those set out in HM Treasury regulations.”


Visa and American Express to strengthen security for stolen contactless cards

Visa contactless security

Visa is to bring all of its contactless transactions online this year across 10 European countries to give consumers “more control over their accounts” following calls from the UK’s Financial Conduct Authority (FCA) for banks to tighten the processes they undergo when a customer reports a stolen contactless card. American Express is also “reviewing options” to ensure those who cancel their cards are protected against contactless fraud. More



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