We are consulting on proposals to simplify the regulatory framework for access to payment systems while broadly maintaining existing access requirements.
If you would like to respond to this consultation, please do so by 5pm on Thursday 10 December 2026.
Why are we publishing this consultation?
The introduction of a single access regime aims to simplify the existing regulatory framework as part of the abolition of the PSR, by removing overlap and fragmentation across various regulatory requirements that govern access to payment systems.
HM Treasury plans to repeal the payment system access regime in the Payment Services Regulations 2017. This consultation assumes that change goes ahead as planned, and plans to substantively transfer the PSR’s functions (including its access to payments powers) to the FCA.
Who should read this consultation?
This consultation is relevant to:
- operators of regulated payment systems
- payment service providers that have or seek direct access to payment systems
- payment service providers that provide, have or seek indirect access
- trade bodies and other organisations representing payment system participants
- other stakeholders with an interest in access to payment systems.
What does this consultation contain?
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A consultation document explaining the context behind the formation of the single access regime.
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A proposed revised GD2
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A proposed, revised, single piece of guidance governing access
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A proposed, revised template GD2 compliance report.
Supplementary Files
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Draft General Direction 2 access to payment systems and report
pdf | 429.5 KB
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Guidance access to payment systems
pdf | 310.9 KB
