Payment Systems Regulator

PSR tells banks to sell stakes in VocaLink to increase payments competition

The UK’s Payment Systems Regulator (PSR) says banks should sell their stake in the nation’s payments infrastructure, VocaLink, to “help increase innovation and competition”. The PSR has published its provisional findings of its market review into the ownership and competitiveness of the infrastructure that supports the payments systems; Bacs, Faster Payments System (FPS) and LINK. […]

PSR papers set out scope for Payments Strategy Forum

The UK’s Payment Systems Regulator has published a series of papers describing its work on the creation of the Payments Strategy Forum, the body it is creating under independent leadership to bring together regulators, industry and users.

Payments infrastructures must support innovation says regulator

New payments options are springing up all over the place – except for the underlying infrastructure where current arrangement for access and governance may be a hinderance to innovation, according to the head of the UK’s Payment Systems Regulator.

Banking Technology Forum 2015 morning sessions: payments regulation, blockchain real-time payments and digital banking

There is a nuclear revolution going on in banking and payments with new digital challenger banks like Atom and Starling seeking to displace established banks that are themselves turning to real-time payment infrastructures to retain customers and under regulatory pressure to open up to FinTech competition from mobile players and payment service providers (PSPs). Crypto-currencies, cyber-security and other tech challenges were also addressed at the Banking Technology Forum 2015

New payment systems regulator will open up payments systems to non-traditional players

Last week saw the launch of the Payment Systems Regulator, the first time the UK gets a regulatory body overseeing the £75 trillion a year payments systems. Its brief is clear: to open up the UK payments infrastructure, which is currently controlled by the high street banks, make it more accessible to challenger banks and fairer for consumers. The regulator has been given strong powers by the government and has already made it clear it will fine the banks if they do not step up to the mark.