This timely seminar will examine the future for digital payment services in the UK - with discussion expected on regulation, innovation and the implementation of the Revised Payment Services Directive (PSD2).
Discussion will focus on the impact of regulatory changes on the sector.
It will be informed by:
- The recent Future of Finance Report commissioned by the Bank of England - which includes recommendations designed to shape the payments system of the future, including allowing open access to a broader range of payment providers who operate across borders; and
- Publication of the FCA’s general standards and communication rules for the payment services and e-money sectors.
With Strong Customer Authentication - aimed at reducing fraud and making online payments more secure - due to come into force in September as part of PSD2, sessions will also provide an opportunity to assess the challenges and opportunities arising from PSD2 implementation.
The conference takes place in the context of rapid growth in financial technology - including Open Banking and contactless mobile payments.
Delegates will also examine key priorities for promoting continued innovation and competition in the sector, while at the same time ensuring that new technological developments do not compromise the security of personal and financial information.
We also expect discussion on the impact of third party payment services providers (TPPs) such as payment initiation services providers (PISPs) - who are able to initiate payments on behalf of customers - and what more needs to be done to make sure systems work for the benefit of the consumer. We expect case studies on services enabling vulnerable consumers to better manage their money and reduce debt.