PSR publishes annual report

The PSR’s annual report, its third, highlights how the past year has enabled it to focus on its initial foundations, and address issues so increasing numbers of new organisations are joining payment systems. It notes the infrastructure market review and PSR’s work to make access to current payment systems easier.

PSR also highlights the falling costs of direct access, the work of payment system operators to reduce the time and complexity for new PSPs to become direct participants and the remedies PSR is requiring to combat the lack of competition for the three interbank PSOs. It also looks at the setting up of the Payments Strategy Forum and its work to create a new payments architecture.