Welcome to the Hogan Lovells Global Payments Newsletter. In this monthly publication we provide an overview of the most recent payments, regulatory and market developments from major jurisdictions around the world as well as sharing interesting reports and surveys on issues affecting the market.
Key developments of interest over the last month include:
Cheque image clearing system launched in the UK: On 30 October 2017, the Cheque & Credit Clearing Company launched the Image Clearing System which enables quicker clearing of cheques by exchanging images of cheques between banks and building societies.
Belgium announces it will miss the PDS2 deadline: The Ministry of Finance has announced that it is unlikely to meet the 13 January 2018 deadline for PSD2 and expects transposition to occur by March 2018.
UK Payment Systems Regulator publishes report and consultation on authorised push payment scams: The report, published on 7 November 2017, explains the actions taken since the Which? super complaint in September 2016 and sets out a new proposal for a “contingent reimbursement model” to protect customers.