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30 January 2024 - The work of the Payment Systems Regulator - Oral evidence

Committee Treasury Committee
Inquiry The work of the Payment Systems Regulator

Tuesday 30 January 2024

Start times: 10:00am (private) 10:15am (public)


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Treasury Committee questions Payment Systems Regulator on fraud reimbursement  

The Treasury Committee will question the leadership of the Payment Systems Regulator (PSR) at 10:15 on Tuesday 30 January. 

Meeting details

At 10:15am: Oral evidence
Work The work of the Payment Systems Regulator (Regular evidence sessions)
Managing Director at Payment Systems Regulator
Chair at Payment Systems Regulator

The cross-party Committee will explore the implementation of the PSR’s authorised push payment (APP) fraud reimbursement scheme, due to go live on 7 October 2024, and the cap on APP fraud reimbursement. Questions may be asked about the regulator’s APP fraud league tables, including why some financial firms reimburse more cases of APP fraud than others and why some firms’ customers suffer from more APP fraud.

Members could discuss progress made with the Bank of England to create a fraud reimbursement scheme for payments made using the Clearing House Automated Payments System (CHAPS). This will be comparable to the PSR’s APP fraud reimbursement scheme, which only covers payments made using the faster payments system. 

MPs could ask the PSR for updates on their two reviews into card payment fees and their current proposal to cap fees for UK-EU transactions. Access to cash, covering the cash machine network and civil contingency planning, and PSR finances could also be discussed. 

Location

The Thatcher Room, Portcullis House

How to attend