fscom News and Events

Authorised push payments and the voluntary code

[fa icon='calendar'] 21-Jun-2019 16:22:28 / by Alison Donnelly posted in E-money, challengerbanks, payments

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What are you doing to protect your customers from authorised push payment (APP) scams? That is a question payment service providers (PSPs), including payment and e-money institutions, will have to answer following regulatory intervention in the UK to force the industry to tackle the problem following Which?’s supercomplaint in 2017.

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New Communication Rules for Payment and E-Money Institutions

[fa icon='calendar'] 09-May-2019 15:00:00 / by James Borley posted in PSD2, E-money, Payment services

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Back in October last year, fscom director Alison Donnelly wrote a blog on the FCA’s consultation on new rules for payment and e-money institutions. As explained in that blog, due to FCA concern with how some e-money and payment institutions have communicated with their customers in the past, certain sections of the FCA Handbook are being applied to payment and e-money institutions.  

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Open banking and strong customer authentication: help!

[fa icon='calendar'] 08-May-2019 15:53:12 / by Alison Donnelly posted in PSD2, E-money, Payment services, SCA

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With only four months to go to the final PSD2 implementation date of 14 September 2019, all payment service providers must make sure they are urgently progressing plans to meet the additional regulatory obligations or to confirm that their obligations are met. 

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Payment services: making safeguarding work

[fa icon='calendar'] 10-Apr-2019 11:15:00 / by Alison Donnelly posted in E-money, FCA, Payment services

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Safeguarding is both a simple and important concept. Every payment and e-money institution that I have ever worked with wants to protect their customers’ funds and make sure that, if the worst came to the worst and they became insolvent, either their customers’ payment instruction would be fulfilled or they would have their funds returned to them.


Download our safeguarding report

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Strong customer authentication: not as simple as just 2FA

[fa icon='calendar'] 22-Mar-2019 17:24:27 / by Alison Donnelly posted in E-money, Payment services, SCA

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In my previous blogs I have given you the basics of strong customer authentication (SCA) and explained how the exemptions could be used to minimise the disruption experienced by payment service users when making payments or accessing transaction information. In this blog, I will take a closer look at the details of the SCA obligations and explain why it’s not as simple as the much-mentioned two-factor authentication (2FA).

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Strong customer authentication: the exemptions explained

[fa icon='calendar'] 17-Mar-2019 21:05:50 / by Alison Donnelly posted in PSD2, E-money, Payment services, SCA

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In my previous blog, I outlined the basic requirements of the new obligation, brought in under PSD2 (the second Payment Services Directive), for all payment service providers to apply strong customer authentication (SCA) in certain circumstances. SCA has to be applied both when accessing payment account information and when initiating a payment transaction meaning that a customer checking their account and then paying a couple of bills would have to go through SCA multiple times in one session, which is far from ideal on the user-experience scale. To avoid this, you, as a payment service provider (PSP) can apply one of nine exemptions, if circumstances permit.

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Brexit: Autobahn to Authorisation?

[fa icon='calendar'] 16-Oct-2018 14:19:52 / by James Borley posted in PSD2, E-money, Compliance, Payment services, BREXIT

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Brexit Workshop: 'Speed Network EU Destinations for Your Perfect Match"

[fa icon='calendar'] 27-Sep-2018 11:45:00 / by James Borley posted in EMR Assurance, E-money, Compliance, PSR Assurance, Payment services, BREXIT

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Brexit: A lifeline in Lithuania?

[fa icon='calendar'] 25-Sep-2018 09:45:22 / by James Borley posted in E-money, FCA, Compliance, Payment services, BREXIT

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fscom Announce Recent Promotions

[fa icon='calendar'] 18-Sep-2018 13:50:24 / by fscom Team posted in fscom News, E-money, Payment services, Company news, Recruitment, careers

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