The EMA submitted a response to the UK FCA Guidance Consultation GC24/5: Authorised Push Payment Fraud: enabling a risk-based approach to payment processing.
EMA response to FCA GC24/5 on APP Fraud – enabling a risk-based approach Read More »
The EMA submitted a response to the UK Payment Systems Regulator CP24/11: Faster Payments APP scams: Changing the maximum level of reimbursement.
EMA response to PSR CP 24-11 Consultation on max reimbursement APP scams Read More »
The Electronic Money Association (EMA) sent a letter to Chancellor Reeves outlining our concerns regarding the implementation of the Authorised Push Payment (APP) mandatory reimbursement scheme. We have also written to the Economic Secretary to the Treasury.
As the EU trade body representing electronic money issuers and alternative payment service providers, we have highlighted several critical issues that need addressing before the scheme’s full implementation. These include concerns about the financial burden on smaller Payment Service Providers (PSPs), potential delays in system readiness, and the need to reconsider the maximum claims threshold.
We believe these matters are crucial for ensuring the scheme’s success and alignment with the broader goals of economic growth and innovation. We would very much appreciate the opportunity to discuss these concerns in further detail and explore potential solutions that could benefit both consumers and the payments industry.
The EMA provided a response to the UK Payment Systems Regulator voluntary questionnaire on police reporting of APP Scams.
EMA response to PSR voluntary questionnaire police reporting Read More »
