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PSR announces development of new strategy for a changing world 

Published 29 07 2020

The Payment Systems Regulator has announced the development of its future strategy. The PSR wants to hear from you now, before it formally consults, around the end of this year, to define clear outcomes for the payments sector – to set out priorities for the regulator, and what stakeholders can expect from the regulator in the future.

Set up in 2015, the PSR is the first dedicated economic regulator of payment systems in the world. Its work programme and approach to date have been guided by a clear mandate that the government provided when the PSR was first set up – and many of these objectives have now been delivered. But as the sector, technology, the external environment and consumer demands continue to evolve, many new issues are arising which could impact payment systems and their users for decades to come. The Covid-19 pandemic has also had a significant impact on the speed and type of change.   

Louise Buckley, Chief Operating Officer and Head of Strategy, said:  

“Developing our strategy is about making sure we are clear on where to focus our resources for optimum impact; prioritising our work well so we can continue to make payment systems accessible, reliable, secure and value for money in the most efficient way possible – it’s also paramount that staff and stakeholders have a clear line of sight to where we’re going.  

“To do this well, it’s really important that we hear from a broad range of interested people and organisations as part of formulating our strategy. We’re hoping many of you will get involved in the conversation – giving us feedback online, through blogs, stakeholder conversations and events and virtual ‘visits’ so we can make sure we identify all the opportunities and priorities, and get it right for the future.”