On Friday, we published our Call for Views on Phase 2 of the implementation of Confirmation of Payee.
In this document, we outline the findings of our analysis of the impact of Phase 1 of CoP (following Specific Direction 10 which we gave to the UK’s six biggest banking groups) and the feedback received on the upcoming roll out of Phase 2 which will enable more Payment Service Providers (PSPs) to join CoP.
We also set out potential policy options to enhance the service and deliver increased implementation across a greater number of PSPs. These include options such as issuing a further direction mandating PSPs to implement Phase 2, bringing about improvements to the CoP service, and the future of SD10.
This call for views is open until 30 June and you can send your responses directly to the team at COP@psr.org.uk.