The UK’s Payment System Regulator (PSR) have issued a Call for Input  on competition issues that could arise in the UK’s New Payments Architecture (NPA). 

In issuing the Call For Input the PSR state:

The importance of the NPA should not be underestimated. It is a once in a generation change to the very fabric of the UK’s interbank payment systems. It will encourage the development of services that make transactions safer and give everyone more control over who, when and how they pay. We want to see the NPA delivered in a way that drives innovation in payment systems and benefits the people and businesses who use them.

PSR: Call For Input – Competition and Innovation in the UK’s New Payments Architecture

This publication contains the PSR’s view of some of the competition issues which might arise during the procurement of infrastructure for the NPA.

The PSR are inviting all interested parties to provide feedback on a number of topics, including the likelihood of competition issues materialising in the NPA and how harmful or significant they could prove to be. It also contains a range of potential mitigations for the issues raised and questions for respondents to answer.

The PSR state that their overall aim is to provide greater clarity and more detail on the PSR’s expectations, concerns and regulatory approach.

The PSR advise that they will publish a ‘Policy Statement’ to explain what bidders, participants and other users can expect from us as the NPA becomes a reality. The PSR expects to publish this statement before the end of 2020.

To find out more and to download the Call For Input document visit: https://www.psr.org.uk/psr-publications/consultations/new-payments-architecture-call-for-input

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