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The UK’s Payment Systems Regulator (PSR) has announced the next step in its fight against authorised push payment (APP) scams: a consultation on the regulatory requirements for a centralised reimbursement claims management system (RCMS). 

The consultation is set to be published in April 2025 and will run for at least eight weeks, according to a new  from the regulator. 

The PSR said it is seeking industry views on whether to mandate the use of Pay.UK’s RCMS for managing APP scam claims and data reporting. 

The regulator introduced new APP scam reimbursement requirements on October 7, 2024, compelling payment firms to compensate victims up to £85,000 in most instances of APP fraud. 

Although many firms already have reporting and claims management processes in place, the PSR believes a unified approach is necessary for consistency and efficiency.

An ongoing idea

The push for a centralised RCMS is not new — in April 2024, the PSR consulted on proposals requiring payment service providers (PSPs) to use Pay.UK’s RCMS.

It argued that it would offer a secure platform for managing claims and compliance with the Faster Payments Scheme (FPS) reimbursement rules. 

“We continue to recognise the important role that existing industry claims management systems have played in implementation and the role of UK Finance,” the latest blog post, written by PSR policy chief Kate Fitzgerald, said. 

Fitzgerald noted that the regulator also recognises “that some APP claims are being managed manually and that these arrangements have operational impacts for PSPs, who continue to focus on ensuring consumers are protected in line with the policy”.

In July 2024, the PSR decided not to impose regulatory requirements at that time, prioritising the successful implementation of the broader APP scam reimbursement policy in October.

Now, with the policy in place, the PSR is revisiting the possibility of mandating the RCMS. 

It initially suggested regulatory requirements could come into force as early as May 2025, but this is no longer feasible. 

Instead, the consultation will seek feedback on a potential implementation timeline, with the earliest likely date now pushed to late 2025.

“We want to ensure that stakeholders have sufficient time to consider our proposals and submit their views on them,” said Fitzgerald.

“Please get involved — your feedback is critical to ensuring the most effective outcome.”