(Source: Eversheds LLP) Financial institutions - Payment services 20-11-2015 Payments UK launched a consultation on 13 November 2015 to obtain views on its interim Code of Conduct (the 'Code') for indirect access providers ('IAP's) to payment systems. The Payment Systems Regulator (the 'PSR') has identified that the market for the provision of indirect access to payment systems may not be working as well as it should. Indirect access is where a payment services provider ('PSP') is not a direct member of a payment system, but rather is dependent on an IAP such as a sponsor bank, for indirect access. The PSR is tackling this issue itself by way of an ongoing market review into...
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