Payment Systems Regulator Annual report and accounts 2017/18
This annual report covers our activity in 2017/18, and reports on our activity over the past year.
We have shaken up the market and made substantial progress in a number of areas, while always ensuring that we reflect our statutory objectives:
- promoting competition
- promoting innovation
- promoting the interests of those that use or rely on payment systems
What have we achieved over the last year?
We’ve overseen major developments which have already produced tangible results for those in payment systems and the people and organisations that use them.
Some of the significant milestones we reached include:
- Opening up access to payment systems, which has seen more players enter the market
- The PSR leading the fight against Authorised Push Payment (APP) scams
- A focus on ensuring that consumers continue to get widespread access to cash through free-to-use ATMs.
- The redevelopment of the infrastructure of payment systems, with the creation of the New Payment System Operator (NPSO) taking over responsibility for three interbank payment systems
We have produced a factsheet that summarises our work over the last 12 months which you may find useful.
What this document contains
As well as a summary of the work we completed in 2017/18, as set out above, the Annual Report also includes:
- Results from our stakeholder perceptions survey
- A summary of our business model and operating costs
- An overview of the risks we face as an organisation
- Director's report
- A corporate governance statement
- A director's remuneration report
- Financial statements