The new blueprint aims to deliver a service that will provide a resilient, flexible and innovative sterling payment system for the United Kingdom.

In response to today’s announcement, the Payment Systems Regulator has issued the following statement.

“The history of payments in the UK has been built on the importance of identifying emerging trends and adapting accordingly to ensure that the British financial infrastructure remains cutting edge. It is fundamentally important to the future of the UK economy that RTGS evolves to meet the ever-changing needs of users.

“We have been working closely with the Bank to further improve choice and quality of access to payment systems. Having fair and open access goes hand in hand with having a vibrant and competitive economy.

“As well as strengthening the resilience of RTGS, this blueprint will complement the work of the Payments Strategy Forum and help to ensure wider interoperability. With financial institutions across the globe all working to the same technical ‘language’, the UK can maintain its position as one of the leading innovative financial markets in the world.

“The blueprint will also complement the work we have undertaken on access to payment systems by offering RTGS services to non-bank payment service providers. This will give consumers more choice when it comes to the payment services available to them, with smaller providers able to settle payments with the central bank quickly and safely, allowing them to challenge the big banks on an even playing field.

“Each step taken to open up access and develop payment systems takes us closer to achieving an innovative and robust payments infrastructure that will support the UK economy for years to come.”


  1. The PSR was incorporated on 1 April 2014 and became fully operational on 1 April 2015.
  2. The PSR has three statutory objectives: to promote effective competition in the markets for payment systems and for services provided by those systems, including between operators, payment service providers and also infrastructure providers, in the interest of service-users; to promote the development of innovation in payment systems, in particular the infrastructure used to operate payment systems, in the interest of service-users; and to ensure that payment systems are operated and developed in a way that considers and promotes the interests of service-users.
  3. The PSR is the regulator and concurrent competition authority for payment systems in the UK and all participants in those payment systems (payment service providers, operators and infrastructure providers to those payment systems).
  4. The PSR website.