The paper identifies potential gaps in protections for consumers, with a focus on consumer-to-business payments via the Faster Payments System. By Christian F. McDermott, Claudia Sousa, and Alain Traill In November, Pay.UK, the retail payments authority, released a summary paper exploring the consumer protection landscape relating to disputed retail payments. The paper, titled “Consumer Protections … Continue Reading
The Federal Reserve is finally stepping into the real-time payments arena. By Todd Beauchamp, Loyal T. Horsley, and Deric Behar On August 5, 2019, the Board of Governors of the US Federal Reserve System (the Fed) announced that it plans to roll out a real-time payment and settlement service by 2023 or 2024. The service, … Continue Reading
