The PSR’s head of policy, Kate Fitzgerald, has blogged on what the PSR plans now that the main APP scam reimbursement requirement is in full effect. Its key priority relates to Pay.UK’s reimbursement claims management system. It plans to consult in April on whether to put in place regulatory requirements for this function, to help claim management and data reporting. Last year, the PSR decided it was not the time to place requirements relating to the system on either Pay.UK or PSPs because it wanted to allow firms to focus on the October 2024 deadline. It recognises that firms need time and clarity to prepare for change. As a result, it has recognised that its original plan to being in requirements on the RCMS in May 2025 cannot go ahead, so instead its April consultation will ask for views on a potential implementation date, which is likely to be late 2025 – although this depends on the results of the consultation.
PSR reflects on next steps for APP scam reimbursement
