Push payment fraud

How smaller banks and PSPs can turn fraud prevention into a competitive edge

by Marie-Christine Diaz

The UK's Payment Systems Regulator has mandated the reimbursement of victims of authorised push payment fraud. While this is a win for consumers, the shift threatens to disrupt smaller banks and payment service providers (PSPs) which are already operating with tighter margins and fewer resources. The stakes are high, and so are the risks.