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UK Payments Sector Asked To Weigh In On Protecting Data

Law360, London (June 13, 2018, 7:11 PM BST) -- The U.K.’s Payment Systems Regulator is seeking feedback from the payment sector on what it can do to remove the risks that come with sharing data as it examines how the “increasingly important” role of payment-related data is affecting the financial industry.

The PSR said Monday that financial firms may use data collected from the payments industry to gain an unfair competitive advantage and in turn affect the quality of services offered in the market. But while the abuse of data can be harmful to the...
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