The PSR Strategy

Payments are an essential part of daily life and it’s the PSR’s job to ensure that the systems underpinning them work well for everyone.

We want everyone to have access to payment services they need – and to be sufficiently protected when using them. In our new Strategy, we set out our priorities and what we aim to achieve over the next five years.

The Strategy recognises areas where payments markets and systems are working effectively, but also highlights where more work is needed. It brings together our ideas for how payment systems and services should adapt for the future and focuses on our core role - to protect the interests of people and businesses, and to promote effective competition and innovation in payments.

Our current strategic priorities

Our final Strategy identifies four strategic priorities for the next five years. These are:

1. Ensure users have continued access to the payment services they rely on and support a choice of payment options.
2. Ensure users are sufficiently protected when using the UK's payment systems.
3. Promote competition between UK payment systems and the markets supported by them; protecting users where that competition is not sufficient.
4. Act to ensure the interbank systems provide the infrastructure, rules and incentives that foster innovation and competition in payments.

How to find out more and get involved

2024 marks the midpoint of our five-year Strategy. We are conducting a review of our Strategy to help assess our progress and determine whether our strategic outcomes and priorities remain the right ones, or whether we need to adapt or refine them. Our review will reflect on the progress we have made to-date, including the challenges and opportunities that will shape our work going forward.

We have published a thought piece from Dan Moore, our Head of Strategy, Analysis and Engagement, which details our current thinking on the Strategy and our review. 

We’re looking to publish more information on this by the end of the year. In the meantime, if you want to get in touch with us on this you can email psrstrategy@psr.org.uk.