The Ultimate Scheme Compliance Checklist for Financial Institutions

In the financial sector, particularly within card payment operations, compliance is essential to maintaining operational integrity and customer trust. Adhering to the licensing rules of international payment networks like Mastercard and Visa is crucial, since non-compliance can lead to substantial financial penalties, and, in severe cases, even result in the restriction or loss of licences.

However, the implications extend beyond financial penalties. Non-compliance can disrupt business operations, damage reputations, and deteriorate customer relationships by causing payment delays and transaction issues.

Our experts have developed a scheme compliance checklist, which serves as a comprehensive guide for scheme compliance managers to ensure compliance is managed efficiently. This checklist is designed to simplify the challenges of compliance through a structured approach, including everything from governance and reporting to effective management of waivers and variances.

Download your copy of the checklist here.