Breaking News
PSR Confirms Its Decision on APP Scams Reimbursement
Today, the PSR has confirmed the maximum reimbursement limit for victims of Authorised Push Payment (APP) scams starting from 7 October. Having given careful consideration to all the feedback and information received, the PSR board has decided that the maximum reimbursement limit for Faster Payments will be £85,000.
The PSR’s requirements will provide world-leading protections to people who fall victim to scams – with over 99% of APP claims covered by the reimbursement cap. It will also give firms strong financial incentives to continue to make improvements to their fraud prevention controls.
This was a carefully balanced decision – which provides significant protection to fraud victims and strikes an appropriate balance having regard to the PSR’s innovation and competition objectives and making sure that payment systems work well for everyone. A final policy statement to explain the reasoning for the decision will be published next week.
The regulator is making this short announcement today to ensure everyone is clear on its decision and to provide clarity on the limit prior to the reimbursement requirements coming into effect on 7 October, supporting their implementation, so that people benefit from the protections from that date.
The Bank of England, as the operator of CHAPS, has carefully considered the feedback made in relation to CHAPS as part of the same consultation. The Bank has decided that the maximum reimbursement for CHAPS will be £85,000. In making this decision, the Bank has given weight to the benefits to industry and consumers of having consistency of limits across the two payment systems. The Bank is committed to reviewing this limit within 12 months.
- The European Central Bank Selects Almaviva and Fabrick for Digital Euro Project Read more
- EXCLUSIVE: “The Advantage of Ancient Errors” – Tony Fish in ‘Discover Sibos 2025’ Read more
- EXCLUSIVE: “Game Changer” – Andy Lyons, Freemarket in ‘The Fintech Magazine’ Read more
- Binance Launches The Blockchain 100 Award to Honor Top Creators Driving Blockchain Innovation Read more
- MAPFRE AM Appoints Ismael García Puente as the New Deputy Director of Investment Strategy Read more
The European Central Bank Selects Almaviva and Fabrick for Digital Euro Project
Almaviva, an Italian digital innovation Group, and Fabrick, a Sella Group company active in Open Finance at an international level, have been selected by the European Central Bank (ECB), as part of the Digital Euro project, to develop the mobile app and its technological infrastructure that will enable European citizens to use the European digital currency.
Maven VCTs Launch £50 Million Fundraise
The Maven VCTs are also notable for the diversification they offer. Spread an investment across all four Maven VCTs and an investor will be invested in over 130 private and AIM quoted companies. A diverse portfolio helps ensure individual failures, inevitable when investing in small companies, don’t sink the whole VCT.
Attivo Deploys Recordsure’s AI Technology to Evidence Its Ongoing Advice Compliance and Cut File Review Costs
Attivo, a forward-thinking and rapidly growing independent financial advice firm, has implemented Recordsure’s predictive AI technology to enhance its ongoing advice compliance, ensure consistent and compliant service delivery, and reduce the cost of file reviews.
Cuzdan LLC Partners with PayTabs Group to Power Azerbaijan’s Digital Payments Future
Cuzdan LLC, one of Azerbaijan’s fast emerging financial institutions, today announced the rollout of its new nationwide payment orchestration platform. Powered by PayTabs Group’s award-winning payment orchestration infrastructure, the platform is set to transform Azerbaijan’s payments landscape by enabling merchants and consumers to transact with greater speed, security, and convenience.
EFT Corporation Appoints Adri Führi as Group Chief Financial Officer
EFT Corporation, a leading payment solutions provider operating across African markets, today announced the appointment of Adri Führi as Group Chief Financial Officer, effective immediately.
PayDo Introduces USD IBAN via SWIFT
PayDo has added dedicated USD IBAN accounts to its platform, now available for clients through the SWIFT network. This new feature allows businesses and professionals to receive US dollar payments directly, without delays from intermediary bank checks. At the same time, PayDo has extended its currency support to more than 60 national and regional currencies.
Aditya Birla Global Trading and Crown Agents Bank Partners to Support Business Expansion Across Africa
Crown Agents Bank (CAB) has collaborated with Aditya Birla Global Trading (formerly Swiss Singapore) to develop tailored financial solutions that support their strategic expansion across African markets.
The European Central Bank Selects Almaviva and Fabrick for Digital Euro Project
Almaviva, an Italian digital innovation Group, and Fabrick, a Sella Group company active in Open Finance at an international level, have been selected by the European Central Bank (ECB), as part of the Digital Euro project, to develop the mobile app and its technological infrastructure that will enable European citizens to use the European digital currency.
EXCLUSIVE: “The Advantage of Ancient Errors” – Tony Fish in ‘Discover Sibos 2025’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
EXCLUSIVE: “Game Changer” – Andy Lyons, Freemarket in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Binance Launches The Blockchain 100 Award to Honor Top Creators Driving Blockchain Innovation
Binance, the world’s largest crypto exchange by trading volume and users, today announced the inaugural launch of The Blockchain 100. This new annual awards show is designed to recognize and celebrate the most influential creators advancing blockchain education, innovation, and community engagement.
MAPFRE AM Appoints Ismael García Puente as the New Deputy Director of Investment Strategy
MAPFRE AM, the asset management arm of MAPFRE Group has appointed Ismael García Puente as the new Deputy Director of Investment Strategy, a newly created position in which he will be involved in the development and communication of the MAPFRE Group’s investment strategy, overseeing the management of specialist funds, market analysis, and asset allocation. He will also continue to assume responsibility for managing the wealth manager networks and life insurance portfolios as well as liaising with customers.
Open Banking Startup Yavrio Named One of CNBC’s UK Top Fintechs 2025, Cementing Leadership in Enterprise Finance
Yavrio, a fast-growing Open Banking fintech enabling embedded payments and banking directly into ERPs, has been selected as one of CNBC’s Top UK Fintechs 2025.
Crypto Wallet Adoption is Skewing Affluent as Dreams of Financial Freedom Fades
A new research report from global payments infrastructure platform Mercuryo and Web3 research firm Protocol Theory shows that while cryptowallet adoption is accelerating among affluent users, lower-income groups face costly access points and risk being excluded.