Central Banking

UK payments regulator notes expansion of indirect access providers

Royal Bank of Scotland
RBS: one of four major banks offering indirect access

The Payment Systems Regulator (PSR) has raised concerns about indirect access in its latest interim report, published today (March 10), while noting four potential entrants are planning to become indirect access providers (IAPs).

"Although competition in the supply of indirect access is producing some good outcomes for indirect payment service providers (IPSPs), we have specific concerns about choice, service quality and the ability of IPSPs to switch providers," the PSR said in the report.


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