What Is The PSR?

Topic: Regulations (Wed 28th Aug 2019)
What Is The PSR?

The Payment Systems Regulator Limited (PSR) is the economic regulator for the £81 trillion payment systems industry in the UK.

Working with the industry

The PSR regulate any payment system active in the UK such as Visa & Mastercard.

They also work with stakeholders such as nexpay who have provided information on the market for merchants and cardholders. They hold regular panel events in which we have represented merchant interests alongside card schemes and acquiring banks.

Their goal is to promote competition and innovation and to ensure payments systems are operated and developed in the interests of the people and businesses that use them.

PSR Objectives

The statutory objectives underpin everything they do. In summary these are:

- To ensure that payment systems are operated and developed in a way that considers and promotes
the interests of all the businesses and consumers that use them
- To promote effective competition in the markets for payment systems and services - between
operators, PSPs and infrastructure providers
- To promote the development of and innovation in payment systems, in particular the infrastructure
used to operate those systems

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