UK: Payment Systems Regulator publishes annual plan focused on competition

The PSR has today published its Annual Plan and Budget for 2017/18 outlining its work programme for the year ahead including a trio of new exploratory projects.

In 2017 and 2018 it remains “focused on promoting competition and innovation” in the UK payments space. This year it plans to do “some exploratory work to better understand” working in consumers’ interests; the increasing use of payments data; and the changing competitive structure of the market.

The new areas of work will build upon the successes achieved since the PSR started work and help make sure the PSR continues to understand industry developments, and so continues to promote competition and innovation and ensure the interests of those that use payment systems remain at the heart of what it does.

Hannah Nixon, Managing Director of the PSR said:
‘We have achieved some positive results since we were set up and work in several areas is starting to pay off.

Full Content: Banking Tech

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