Central Banking

UK’s PSR announces shake-up in provision of payment services

UK’s payment system regulator to open door to third-party providers to compete for projects

Financial Conduct Authority
The Payment Systems Regulator (PSR) is part of the Financial Conduct Authrority

The UK's Payment Systems Regulator (PSR) will allow third-party technology providers to compete alongside established bank-controlled parties for the provision of national payment infrastructure projects, it announced today (December 7).

Its latest proposals shake up the provision of payment services, mandating a competitive procurement process which could enable new infrastructure providers, offering different technology solutions, to enter the market.

"The remedies we are putting forward today

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account