Payment Systems Broadcast #20 - Consumer Protection and Fraud in Payments

About this Episode

Guests Oliver Hanmer (Payment Systems Regulator) and Dave McPhee (Pay.UK) joined FNA as we explored the complex challenge of balancing consumer protection measures and seamless payment experiences. 

Protecting consumers is paramount in ensuring trust in financial services. But as the right payment landscape evolves, how do financial institutions strike the right balance between offering a seamless payment experience and robust fraud prevention measures to protect consumers? 

In this session, we delved into regulatory and industry-led interventions including the role of data in fraud mitigation, emerging AI-driven solutions, and best practices from different jurisdictions.

Our guests provided valuable insights into how regulation industry initiatives can work in tandem to protect consumers, drive efficiency and foster innovation in payments ecosystem as we ask seek to find the balance between reducing friction across the payment journey while optimizing fraud prevention and funds recovery.