Central Banking

UK’s PSR needs powers to protect cash – report

Think-tank report believes regulator should have consumer protection mandate

ATM cash point

A UK-based financial think-tank believes the country’s Payment System Regulator (PSR) should be given an explicit mandate to protect access to cash.

In the report, The future of cash: protecting access to payments in the digital age, David Clarke of Positive Money argues the recent decision to raise the interchange fee for cash machines will leave a proportion of the population financially excluded when it comes to payments.

“Action by the regulator is the only thing standing in the way of the

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