The Payment Systems Regulator (PSR), which became operational on 1 April 2015, published a Policy Statement on 25 March 2015 which confirms how it will regulate the payment systems industry.

What this means for you

The directions, policies and substantial programmes of work announced will impact on a broad range of players: from challenger banks, building societies and other payment service providers seeking access to payment systems, to the large banks who access them directly, to infrastructure providers and the operators of the systems themselves.