FCA: Acts to strengthen protections for customers using payment firms
- Launched a consultation on additional guidance for payments firms to strengthen the way in which they look after customers’ money
- The payments sector a priority area for the FCA and the consultation follows ongoing work to ensure payments firms
- The guidance part of a broader programme of work the FCA was planning to consult on later in the year
- Payments firms bring financial parties together to deliver a simple payment experience for business
- The sector developing rapidly and an increasing number of firms are entering the market
- The FCA continue to proactively supervise firms in this sector and will act swiftly where firms fail to meet safeguarding
