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UK Payment Systems Regulator confirms new requirements for APP fraud reimbursement

Authorised push payment (APP) fraud has quickly become one of the most significant types of fraud, both in the UK and globally.

The reviews focus on Mastercard and Visa as these two card payment system operators account for 99% of debit and credit card payments in the UK.

The PSR has imposed fines against Mastercard, allpay, Advanced Payment Solutions (APS), Prepaid Financial Services (PFS) and Sulion.