The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) have issued a joint statement providing important regulatory clarity on open banking pricing models, specifically in relation to commercial Variable Recurring Payments (cVRPs). The statement confirms that, at this stage, the regulators will not prioritise a Competition Act 1998. Investigation into the centralised access fee pricing model being developed by the UK Payments Initiative for cVRPs. Comme

The High Court has upheld the Payment Systems Regulator’s (PSR) authority to regulate payment systems, backing its powers to impose a cap on cross-border interchange fees. The judgment, delivered on 15 January 2026, represents a significant affirmation of the PSR’s statutory remit and its role in safeguarding competition and service user interests across the UK payments landscape. The legal challenge arose in response to the PSR’s proposal to cap cross-border interchange fees

The Payment Systems Regulator (PSR) has announced a significant regulatory intervention aimed at improving transparency, governance and oversight in the UK card payments market, following concerns over rising scheme and processing fees charged by Visa and Mastercard. The measures mark a decisive step to address what the regulator has identified as a lack of effective competition and insufficient fee transparency. Card payments play a central role in the UK economy, yet the PS

The Payments Vision Delivery Committee has announced its strategy to shape the next generation of UK retail payments infrastructure. Bringing together the Treasury, Bank of England, Financial Conduct Authority and Payment Systems Regulator, the initiative marks a key milestone in delivering the government’s National Payments Vision and its ambition for a modern, inclusive and secure payments ecosystem. The new strategy outlines five strategic outcomes focused on innovation, c

The Payment Systems Regulator (PSR) has marked the first anniversary of its Authorised Push Payment (APP) reimbursement policy by...

The Payment Systems Regulator (PSR) has announced the appointment of Andrew Wigston as its interim Head of Supervision and Compliance...

The Payments Vision Delivery Committee has unveiled an innovative new model for the future of the UK’s retail payments infrastructure,...

The Financial Conduct Authority (FCA) has appointed David Geale as the permanent Executive Director for Payments and Digital Finance, and...

Abolition of the UK Payment Systems Regulator: What It Means for Innovation, Competition and Oversight

The UK Government’s move to streamline payments regulation ensures a competitive, innovative, and secure industry, strengthening oversight.

The PSR finds Mastercard and Visa's fee hikes harm UK businesses, citing weak competition and poor transparency. Remedies to follow soon.

A joint feedback statement from the FCA and PSR assesses the usage and impact of digital wallets. The use of digital wallets has rapidly...