Payment Systems Regulator Annual Plan and Budget 2025-26

PSR publishes Annual Plan for 2025/26

We have published our Annual Plan and Budget for 2025/26.

It’s an overview of our commitments and priorities over the next financial year, as we move towards consolidation with the FCA.

The government has clearly set out that the PSR retains its remit and full suite of powers pending consultation, and in the meantime, we will continue to deliver in line with our statutory objectives in promoting competition and innovation, as well as the interests of current and future users of payment systems.

We set out commitments in our strategy update earlier in the year, and we will continue to:

• Complete the important work we have started to protect users and promote competition and innovation.
• With the Bank of England, drive forward work to upgrade Faster Payments, and reform of Pay.UK, as well as assess other long-term retail infrastructure needs.
• Sharpen our focus on competition and innovation in payment systems, supporting economic growth and enabling the ecosystem of the future.

We have an ambitious and impactful programme of work for the year and look forward to delivering it, while supporting a smooth transition.

Our budget for 2025/26

Our budget for 2025/26 is £28 million. Overall, this is the same as our budget for 2024/25, despite the increase in staff costs for the 2025/26 financial year.

Budget costs