UK Payment Services Regulation - An Introductory Guide
The payments landscape is in the process of a rapid transformation. Incumbent banks and merchant acquirers are now facing a range of new competitors in the form of nimble FinTechs. Regulatory developments such as the second Payment Services Directive have driven new initiatives such as open banking.
UK payment systems are undergoing a programme of consolidation and upgrade. E-commerce retailers and big tech companies are increasingly focused on payment services.
This new virtual classroom seminar aims to introduce delegates to the legal and regulatory framework for payment services in the UK and the business background.
Ideal for in-house legal in the regulated space or those firms who deal with regulated payment service providers, the session will bring you up to speed with the dynamic payments sector.
What You Will Learn
This live and interactive session will cover the following:
- Introduction to the Payments Landscape
- Who are the players?
- What changes are happening?
- What will the future look like?
- Second Payment Services Directive (PSD 2)/UK Payment Services Regulations
- Development & purpose
- Payment Services & Exclusions
- Authorisation of Payment Institutions
- Interactions with the second Electronic Money Directive
- Information to Customers’ Requirements
- Rights of Payment Service Users & Obligations of Payment Service Providers
- UK Implementation of PSD 2 and Brexit implications
- Strong Customer Authentication under PSD 2
- Two Factor Authentication
- Regulatory Technical Standards
- Delay & Industry Roadmap
- Open Banking Initiative
- Purpose and development
- Competition and Markets Authority action
- Wins so far & direction of travel.
- Regulatory Approach to Payment Services
- FCA Approach Document
- Role of the Payment Systems Regulator
- New Regulatory Guidance in light of COVID-19
- New Payments Architecture
- NPA Blueprint
- Tendering for industry partner for building NPA
- Payment System Regulators review of competitive aspects
- What will payments infrastructure of tomorrow look like?
- Key takeaways
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.