Consumer Duty Statement

Last Updated: November 2025

At Payment Assist Ltd, we are committed to delivering good outcomes for our customers in line with the Financial Conduct Authority’s Consumer Duty (PS22/9). This statement outlines how we embed the Duty across our business and ensure our products and services meet the needs of our customers.

Our Commitment

We place customers at the heart of everything we do. Our approach is guided by the Consumer Duty’s core principle:

“Act to deliver good outcomes for retail customers.”

This is supported by three cross-cutting rules:

• Act in good faith
• Avoid foreseeable harm
• Enable and support customers to pursue their financial objectives

The Four Consumer Duty Outcomes

1. Products & Services

We design and distribute products that:

• Meet the needs, characteristics, and objectives of our target market
• Are regularly reviewed for suitability and fairness
• Are withdrawn or amended if they no longer meet customer needs

2. Price & Value

We ensure:

• Pricing reflects fair value relative to the benefits provided
• Fees and charges are proportionate and transparent
• Collections and arrears practices are fair and sensitive to customer circumstances

3. Consumer Understanding

We communicate clearly and effectively by:

• Using plain language and avoiding jargon
• Testing customer-facing materials for clarity and comprehension
• Providing timely and relevant information to support informed decisions

4. Consumer Support

We provide:

• Accessible and responsive support throughout the customer journey
• Trained staff who can identify and assist vulnerable customers
• A robust complaints process with root cause analysis to drive continuous improvement

Governance & Oversight

• Our Consumer Duty Feedback Group, with cross-departmental representation, meets quarterly and reports to the Executive Committee.
• Senior Management are accountable for embedding the Duty within their areas.
• We conduct regular Management Information (MI) reviews and customer outcome testing, reported to the Board.

Monitoring & Continuous Improvement

We:

• Monitor customer outcomes across all four Duty areas
• Review and update our policies annually or as needed
• Document and evidence how we deliver and improve customer outcomes

Contact Us

If you have any questions or feedback regarding our Consumer Duty approach, please contact:

compliance@payment-assist.co.uk
01664 503 151

End of Statement