Tag Archives: PSR

PSR reports record payment services activity

The Payment Systems Regulator’s annual report says 2017 was a record-breaking year for new participants, and it expects many more PSPs to join in 2018. Its early projections suggest 11 PSPs could become direct participants in CHAPS, Faster Payments and Bacs during the year, as opposed to 4 new joiners in 2016. It also reports […]

Payment Systems Regulator explains focus on UK’s ATM network

The Payment Systems Regulator (PSR) has published a letter sent by it to the Chair of the Treasury Select Committee regarding the UK’s ATM network. The letter sets out the PSR’s continued commitment to ensuring access to ‘free to use’ ATMs, and describes its ongoing program of work on the ATMs network. The letter also […]

Charles Randell becomes new FCA and PSR chair

Charles Randell CBE has been appointed the new chair of FCA and the PSR with effect from 1 April.

PSR update on authorised push payment scams and reimbursement model consultation

The Payment Systems Regulator (PSR) has provided an update on progress in relation to authorised push payment (APP) scams, where fraudsters trick customers into instructing their banks to make a payment to what the customer believes is a legitimate account. Following a Which? super-complaint in September 2016, PSR, FCA and the payments industry developed a work […]

PSR updates on payment scam work

PSR published its initial findings following its investigation into authorised push payment scams at the end of 2016. It plans to publish a progress report in November, with its thoughts on the next steps.

PSR publishes consultation on Direct Debit Facilities Management: Switching providers

The Payment Systems Regulator has published its Consultation on provisional conclusions and proposals to change the Direct Debit rules relating to the switching of Facilities Management providers. Organisations wishing to collect money from their customers via Direct Debit (such as charities and local councils) must be approved, or ‘sponsored’, by a bank or building society […]

Payments strategy forum releases its consultation on the blueprint for the future of UK payments

The Forum has published its Blueprint for the Future of UK Payments for public consultation until 22nd September 2017. The Consultation is an opportunity for everyone to have their say on the detailed design for the New Payments Architecture (NPA) and the future of payments in the UK. The Forum is hosting a Consultation Briefing Session […]

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 […]

John Griffith – Jones leaving the FCA

John Griffith – Jones has confirmed that he will leave both the FCA and the PSR at the end of his term of office on 31 March 2018.

PSR publishes contactless mobile payments page

The PSR has published a new webpage explaining the work it is doing on contactless mobile payments. It says it has noted how the growth in this type of payment could affect its statutory objectives and will publish an update in the autumn to outline the work it has done better to understand the issues […]