Central Banking

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

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

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