The Linklaters Podcast

Smarter rules for slower payments // Fintech

Episode 33: Payments Monthly

Upcoming rule changes will give payment providers more time to investigate fraud. Firms also face more red tape when closing customer accounts. Jean Price and Arjun Lakhani sum up these changes and what payment firms can expect next under the UK’s smarter regulatory framework.

Listen to all episodes on our Payments podcast webpage.

Why DORA is a priority for payments // Fintech

Episode 32: Payments Monthly

Our payments podcast returns with an update on the EU’s Digital Operational Resilience Act. In this episode, Andreas van Impe explains what payment firms should focus on to meet the DORA deadline.

Listen to all episodes on our Payments podcast webpage.

July 2023: How will PSD3 modernise payments?

Episode 31: Payments Monthly

The European Commission has released draft legislation which aims to reshape payments regulation in the EU. In this episode Andreas van Impe and Frances Hodgkins give their reaction to the PSD3 proposals.

June 2023 - How crypto marketing is becoming tougher // Fintech

Episode 30: Payments Monthly

The UK is adding cryptoassets to its financial promotion regime. Harry Eddis, Olivia Murphy and Simon Treacy look at the lawful routes to marketing cryptoassets and the tough new rules that crypto ads must comply with.

April 2023 - How a more powerful FCA will impact payments // Fintech

Episode 29: Payments Monthly

The FCA is in line to get new rule-making powers over payments firms. But why does the FCA need these powers? Jean Price, Frances Hodgkins and Simon Treacy discuss how they could be used to settle a debate about whether payments firms hold customer funds on trust.

March 2023 - Another FCA Dear CEO letter to payments firms // Fintech

Episode 28: Payments Monthly

The FCA is still concerned about compliance standards at payments and e-money firms. Pansy Wong, Harry Eddis and Simon Treacy talk about what firms need to do in response to its latest warning shot to the sector.

March 2023 - What next for UK crypto regulation? // Fintech

Episode 27: Payments Monthly

2023 is set to be a pivotal year for the regulation of cryptoassets. In our latest payments podcast, Harry Eddis, James Morris and Simon Treacy provide an update on how the UK government plans to regulate stablecoins and other cryptoassets.

October 2022 - Consumer Duty update // Fintech

Episode 26: Payments Monthly

The FCA has finalised its plans for a new Consumer Duty. Harry Eddis, Olivia Murphy and Simon Treacy highlight what’s changed since the draft rules and other points of interest for payment and e-money institutions.

In their discussion, they consider scoping issues including through the lens of some specific e-money and payments scenarios, as well as touching on implementation plans and ongoing monitoring.

For more resources on the Consumer Duty including a recording of our November 2022 webinar on scoping, visit our Consumer Duty webpage.

June 2022 - Consumer Duty for payments // Fintech

Episode 25: Consumer Duty for payments

The FCA plans to raise the bar for how firms deal with retail customers. Jean Price, Arjun Lakhani and Simon Treacy work through the different aspects of the FCA’s Consumer Duty and what payments firms should be doing to prepare for it.

April 2022 - Becoming authorised // Fintech

Episode 24: Payments Monthly 

Before you can start a regulated business, you need a licence. Jean Price, Olivia Murphy and Simon Treacy talk us through this first step in the life of a payments firm: applying to the FCA for authorisation.

March 2022 - Trust in payments // Fintech

Episode 23: Payments Monthly

The FCA’s interpretation of e-money safeguarding rules has been dismissed by the courts. Harry Eddis, Frances Hodgkins and Simon Treacy consider what the ipagoo decision means for payments firms.

January 2022 - The Senior Managers and Certification Regime // Fintech

Episode 22: Payments Monthly

The FCA wants more powers to regulate the conduct of individuals working in the payments sector. In this episode, Nik Kiri, Jean Price and Simon Treacy look at the FCA’s individual accountability regime – the SMCR – and predict how it could be applied to payments and e-money firms.

October 2021 - Regulating buy-now, pay-later // Fintech

Episode 21: Payments Monthly

In this month’s payments podcast, Harry Eddis, Jean Price and Simon Treacy cover the Treasury’s consultation on buy-now pay-later and one of the team tries out BNPL for the first time.

September 2021 - Binance: Lessons for payments firms // Fintech

Episode 20: Payments Monthly

The FCA has restricted the UK operations of one of the world’s largest crypto-asset exchanges. In this month’s payments podcast, Harry Eddis, Jean Price, Paul Harris and Simon Treacy talk about what payments firms can learn from Binance’s experience. Plus, they look ahead to possible changes to the UK’s AML regime.

June 2021 - E-money communications and a new duty of care // Fintech

Episode 19: Payments Monthly

The FCA has told e-money firms to explain to their customers how their money is protected. In this month’s payments podcast, Harry Eddis, Jean Price, Paul Harris and Simon Treacy talk about the impact these communications will have, plus financial promotions and the FCA’s plans for a consumer duty of care.

May 2021 - Insolvency risks in the payments chain // Fintech

Episode 18: Payments Monthly

Social changes are benefitting a new generation of payment providers. In our final episode on insolvency in the payments sector, Richard Hay and Simon Treacy discuss the potential systemic role of these providers and how the Bank of England might respond to emerging risks.

April 2021 - Insolvency and safeguarding // Fintech

Episode 17: Payments Monthly

In the second of three episodes on insolvency in the payments sector, Jean Price, Paul Harris and Simon Treacy discuss the Premier FX case and what it means for the FCA’s approach to safeguarding.

April 2021 - Insolvency changes for payment and e-money institutions // Fintech

Episode 16: Payments Monthly

No one wants to contemplate the failure of their business. But incoming changes to the insolvency regime for payment and e-money institutions have forced those firms to engage with that possibility. In this episode, Rory Conway, Harry Eddis and Simon Treacy discuss some of the features of the new special administration regime for payments firms.

Payments in Australia – Data, Resilience, Competition: Part 2 // Fintech

Episode 15: Payments Monthly

In the second of two episodes comparing payments trends in the UK and Australia, Frances Hodgkins and Jonny Ford discuss the consumer data right / open banking, operational resilience and competition with Nicola Greenberg, Elyse Adams, Kerensa Snyed and Rob Walker from Allens, Melbourne.

March 2021 - Payments in Australia - BNPL: Part 1 // Fintech

Episode 14: Payments Monthly

Australia is at the forefront of buy-now pay-later. In the first of two episodes looking at payments trends in Australia, Frances Hodgkins talks to Nicola Greenberg, Kerensa Snyed and Rob Walker from Allens, Melbourne, about the latest in the BNPL market and what happens next.

February 2021 - Protecting consumers: APP fraud and interbank payments // Fintech

Episode 13: Payments Monthly

Fraudsters trick you into transferring money to them. Should your bank reimburse you? This month Jean Price, Paul Harris, Harry Eddis and Simon Treacy look at the latest suggestions for tackling authorised push payment fraud, as well as whether consumers need more protection when using Faster Payments.

January 2021 - How buy-now pay-later works // Fintech

Episode 12: Payments Monthly

As more of us shop online, more ways to pay are emerging. In this month’s payments podcast we take a closer look at one of these new payment options known as buy-now pay-later. Harry Eddis, Jean Price and Paul Harris explain how BNPL firms make money, how they are regulated and why this matters to the payments sector.

December 2020 - What 2021 holds for the payments sector // Fintech

Episode 11: Payments Monthly

The pace of change in the payments industry continues to accelerate. In this episode, Jean Price, Paul Harris and Simon Treacy look ahead to more change in 2021, the regulators’ plans to keep up and what payment firms will be focusing on in the year to come.

November 2020 - Meet MiCAR: the EU’s Markets in Cryptoassets Regulation // Fintech

Episode 10: Payments Monthly

The EU has unveiled its plans for regulating cryptoassets. In this month’s payments podcast Harry Eddis, Sophia Le Vesconte and Simon Treacy walk through how MiCAR would work and what it could mean for the payments industry.

October 2020 - Brexit revisited // Fintech

Episode 9: Payments Monthly

After a short break, our payments regulation experts revisit Brexit and look ahead to what the end of the transition period means for payments firms. Harry Eddis, Jean Price and Paul Harris also highlight other developments that have caught their eye over the last couple of months.

July 2020 - The FCA’s warning to payment services firms and e-money issuers // Fintech

Episode 8: Payments Monthly

The FCA's portfolio strategy letter to CEOs warns them to act to prevent customer harm. Simon Treacy, Harry Eddis, Jean Price and Paul Harris look at what the letter means for payment and e-money institutions.

Bonus Episode - Killer acquisitions in the payments industry // Fintech

Episode 7: Payments Monthly

In a special episode, our Competition experts Natura Gracia and Sima Ostrovsky join Frances Hodgkins and Simon Treacy to examine recent high-profile deals in the payments industry and the approach of competition authorities as they look out for smaller competitors being “killed off” by larger rivals.

June 2020 - How payments firms safeguard customers’ funds // Fintech

Epiosde 6: Payments Monthly

As part of its response to Covid-19, the FCA has put forward new guidance for payment institutions and e-money institutions on safeguarding and prudential risk management. Simon Treacy, Jean Price and Paul Harris examine what the change in regulator’s expectations means for payments firms.

Bonus episode - Payments in Australia // Fintech

Episode 5: Payments Monthly

In this special episode, our payments lawyers are joined by Nicola Greenberg from Allens to discuss the Royal Commission, buy-now-pay-later models, new design and distribution rules for Australian payments firms and progress on open banking.

February 2020 - payment fraud and operational resilience for payments firms // Fintech

Episode 2: Payments Monthly

This month Simon Treacy, Jean Price and Harry Eddis discuss authorised push payment fraud and the measures that have been taken to try to tackle it, and consider what the regulatory focus on operational resilience means for the payments industry.

Innovative Payment Systems (Part II) // Fintech

Episode 7: The Next Year in Payments

Michael Voisin & Richard Hay

In this two-part episode, Michael Voisin and Richard Hay discuss the limitations of legacy systems and drives to improve and replace them. This second part focuses on efforts to create parallel closed loop payment systems that do not rely on existing legacy infrastructure, such as so called “stablecoins” and central bank digital currencies.

Innovative Payment Systems (Part I) // Fintech

Episode 6: The Next Year in Payments

Michael Voisin & Richard Hay

To date, much of the innovation in the payments market has been at the user-interface level – in a sense, “digital lipstick” applied on top of existing legacy systems. But that approach has its limitations. And there is now growing demand for improvements to underlying payment systems to increase the speed and efficiency of value movements. In this two-part episode, Michael Voisin and Richard Hay discuss the limitations of legacy systems and drives to improve and replace them. This first part focuses on existing legacy systems and initiatives to alter and upgrade them.

A European perspective – changes in the Belgian payments market // Fintech

Episode 4: The Next Year in Payments

Etienne Dessy, Jellen Rasquin & Donald Krols

As part of the broader digital payment revolution across Europe, there has been considerable change in the Belgian payments market in recent years. Etienne Dessy, Jellen Rasquin and Donald Krols look ahead to the regulatory priorities for 2020 including PSD2, APIs and AML.

The shift from cash to digital payments // Fintech

Episode 3: The Next Year in Payments

Harry Eddis, Frances Hodgkins & Terry Yiangou 

E-commerce, wallet services and digital payments are transforming the way we interact with money. Looking ahead, innovative payment systems are set to accelerate the global decline in cash use. Harry Eddis, Frances Hodgkins and Terry Yiangou discuss these market changes and the questions they pose about continuing access to cash.

EBA outsourcing guidelines for payment institutions // Fintech

Episode 2: The Next Year in Payments

Jean Price & Arjun Lakhani

An increase in outsourcing in the payments sector has brought with it increased regulatory scrutiny. Now payment institutions in the EU must take into account new outsourcing guidelines from the European Banking Authority. Jean Price and Arjun Lakhani discuss the key points for payment institutions to consider when assessing new and existing outsourcing arrangements.