Payment Systems Regulator Annual Plan and Budget 2019/20
We have published our Annual Plan and Budget for 2019/20 which sets out our aims and a summary of our anticipated activities and expected costs for the next twelve months.
Our annual plan shows how we are continuing to evolve and adapt to make sure we can continue making decisions that meet current and future needs. Considering our role in relation to consumers in greater depth than we have had to before will be a key part of this.
In previous years we have made significant improvements for many consumers and our upcoming work will continue to help the people and businesses that rely on payments in the years to come.
We’ve made a handy factsheet, summarising our plan, which you may find useful.
Aims and activities for 2019/20
This year, the PSR will continue to deliver its objectives through a programme of key work that includes:
- Protecting people from Authorised Push Payment scams and the implementation of Confirmation of Payee
- Access to cash through ATMs and longer term sustainable access to payment methods
- Market review into card-acquiring services to make sure the supply of these services is working well for merchants, and ultimately consumers
- Overseeing the delivery of the New Payments Architecture to produce good outcomes for payment systems users
- Continuing to make sure access to payment systems is fair and transparent, enabling participants to provide new and innovative products and services
- On-going to work with HM Treasury, the Bank of England and Financial Conduct Authority to prepare for EU Withdrawal
We’re also increasing our work on ensuring that consumers, businesses and market participants benefit from the changes that are taking place in payments.
Some of the projects we began in previous years are now at the point where we’re monitoring progress and enforcing compliance where we need to. Our work on making access to payment systems simpler has made a positive difference, giving new providers the opportunities to connect to the systems and giving people more choice about how they use payments.
Our budget for 2019/20
|Operating Costs (figures rounded)||£m|
|Accommodation and office services||1.2|
|Information systems costs||0.7|
|Training, events, recruitment and travel||0.4|