Payment Systems Regulator Annual Report 2018-2019

Regulatory Updates | 09/07/19

The Payment Systems Regulator (PSR) has published its Annual Report for the year to 31 March 2019 summarising the progress it made against the aims and priorities set out in its 2017/2018 annual plan. The PSR has been engaged in the following important workstreams in 2018/2019:
• the introduction of a new industry code preventing authorised push payment scams;
• the launch a programme of research into access to cash, and the issue of a direction to LINK in relation to maintaining the spread of free-to-use ATMs across the UK;
• the launch of the PSR’s market review into the supply of card-acquiring services;
• continued work on the payment systems access programme; and
• making the EU Exit instrument onshoring EU Regulatory Technical Standards under the Interchange Fee Regulation.
Other key work over the year included:
• a sector report on Contactless Mobile Payments (CMPs);
• a discussion paper and event looking at data in the payments industry;
• a consultation on Confirmation of Payee (CoP); and
• a review of the PSR’s general and specific directions.