In January 2022, we published our Strategy, which sets out the four outcomes that the PSR is focusing on over a five-year period:
- Everyone has access to payment services that meet their needs.
- Users are adequately protected when using payment systems and services, so they can use them with confidence.
- Payment systems enable effective competition in the provision of payment services.
- Payment systems are efficient and commercially sustainable.
For each strategic outcome, we set out a number of indicators that could be used to assess progress. We said we’d report on progress against some of those indicators alongside our annual report, which will help us to establish whether payment systems and payment services in the UK are closer to or further away from the outcomes we want to see.
This is the first report on progress. We'll conduct a full review of our Strategy at its halfway point in 2024.