Banking and Finance: Pay.UK knocks back Faster Payments fees to cover APP fraud

17 Nov 2019 10:56 PM | Anonymous member (Administrator)

Proposals by seven UK banks to levy a per transaction fee for for certain Faster Payment transactions as a means to provide a long-term, sustainable funding arrangement for the reimbursement of APP scam victims, have been knocked back by governing body Pay.UK following an industry-wide consultation.

https://www.finextra.com/newsarticle/34775/payuk-knocks-back-faster-payments-fees-to-cover-app-fraud

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