We have published our fourth report on access to payment systems and the governance of payment system operators in the UK.

Why are we publishing this report?

Improving access to payment systems and making the governance of payment system operators more inclusive and transparent remains a key priority for the PSR. The regulator’s open access programme has become the cornerstone of our work and it is now delivering meaningful results for service-users.
This report is an update on the developments in access and governance over the last 12 months, and follows our 2018 report. This latest report shows that 2018 was a record year for new participants gaining access to the interbank payment systems: Bacs, Faster Payment Scheme (FPS) and CHAPS.
We have produced a factsheet that summarises this report which you may find useful.

Who should read this paper?

This report is relevant to the operators of the payment systems, payment service providers (PSPs) accessing the systems and anybody with an interest in the way the operators run them.

What does the report say?

The report covers the following developments: 
• A record-high year for new participants - 12, up from seven in 2017 – joined FPS, Bacs and CHAPS in 2018.
• Expanded access - The first non-bank payment service providers (PSPs) joined these systems.
• More indirect access providers (IAPs) - There are more IAPs in the market that are actively onboarding PSPs than ever before.  
• Increased choice - The increasing number of PSPs with access to interbank payment systems has led to improvements in the quality and range of services that consumers receive.
Compliance reports:
The annual compliance reports from the following operators can be viewed below:
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