Payments News

Global

UK’s FCA releases updated guidance for payments firms amid COVID-19

“The U.K. Financial Conduct Authority issued renewed guidance on payments firms amid concerns that the COVID-19 pandemic has put additional pressure on many startups that depend heavily on investor support and may not be able to meet original performance targets. “The guidance is part of a broader programme of work the FCA was planning to consult on later in the year, to set out its expectations for the payments sector,” the agency said in a statement on its website Friday. “This has now been brought forward due to pressures the coronavirus pandemic is placing on firms’ finances.”