Payment services regulation and financial exclusion
From: Julia Banim (@JuliaBanim)
#journorequest Looking to speak with experts or practicing solicitors who specialise in payment services regulation, financial exclusion, and card network compliance for a @DailyMirror article. Email me at julia.banim@reachplc.com
Suggested talking points
The compliance framework governing payment service providers has created unintended barriers for underbanked populations, particularly around Know Your Customer requirements that disproportionately affect individuals without traditional documentation or credit histories.
Card network rulebooks—specifically interchange fee structures and merchant acquiring standards—have real consequences for financial inclusion, as smaller institutions and alternative payment processors struggle with the capital requirements to maintain compliance.
Recent regulatory scrutiny of payment systems has focused on cross-border transfers and fraud prevention, but the Daily Mirror's consumer-facing readership would benefit from understanding how these rules directly impact access to basic banking services for vulnerable populations.
Position your response around the practical compliance decisions that payment firms make which directly reduce or expand access to financial services for Daily Mirror readers.
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