3.0: FCA and PSR set out next steps for open banking in the UK
The next steps for open banking in the UK will include a new independent company to drive forward variable recurring payments.
The UK’s Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have outlined their next steps to advance open banking in the UK.
The regulator pair emphasises the creation of an independent entity to oversee Variable Recurring Payments (VRPs). This development aims to improve the flexibility and security of regular payments for consumers …
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