January 31, 2022

Vixio Payments Compliance

Moving in the Right Direction? What Will Become of the PSR’s New Strategy

The new PSR strategy, which was published on January 13, sets out four outcomes that the regulator wants to see and will work toward the next five years.

These included setting key outcomes, such as payments systems that meet people's needs, a landscape where users are protected, effective competition in payments and efficient payment systems.

The PSR has, at times, failed to impress the payments market that it oversees.

"It is predictably bland, saying all the right things without much punch," said one source. "As with all strategies, it is all about execution, and that is where I believe the PSR has to raise its game."

Yet, in spite of the PSR's occasionally turbulent relationship with the market, the strategy has garnered some optimistic reviews.

"I am positive about the potential of the strategy, and the fact that they have a visible framework in place," said Ed Adshead-Grant, payments director at Bottomline Technologies...

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