Quick Summary: Payment Systems Regulator – NPA Regulatory Framework

In December 2021 the Payment Systems Regulator (PSR) published their regulatory framework for the New Payments Architecture (NPA) central infrastructure services (CIS). In this blog we provide a quick summary of the regulatory framework and the associated Specific Directions together with relevant links to the PSR’s website. What is the New Payments Architecture (NPA) and why is it... Continue Reading →

New Payments Architecture (NPA) regulatory framework published

The PSR have published their regulatory framework for the New Payments Architecture (NPA) central infrastructure services (CIS) following a consultation on the delivery and regulation of the NPA.  The NPA framework has been developed taking account of responses to that consultation and aims to address risks to competition and innovation in the NPA ecosystem arising from the behaviour of... Continue Reading →

Nine takeaways from the PSR’s decision on the New Payments Architecture

Last Thursday I was walking through Leeds city centre on my way to meet the City of London’s Lord Mayor for lunch when the Payment Systems Regulator (PSR) announced that they had decided that Pay.UK should phase the development of the UK’s New Payments Architecture (NPA) by narrowing the scope of the NPA Central Infrastructure Services (CIS) contract.  As I walked... Continue Reading →

An amazing sub-structure that makes modern life so much easier

New Payments Architecture  The payments regulator is very clear on its views on interbank payments and the systems that support these payments. Whether paying employee wages, or transferring money to a friend using internet banking, interbank payments are a key part of everyday life for businesses and consumers alike. It’s vitally important that they run smoothly and rise to... Continue Reading →

PSR Consultation on delivery and regulation of the New Payments Architecture

The PSR are consulting on ways to reduce risks to the successful renewal of the UK’s interbank payment systems and proposals to mitigate risks to competition and innovation. Each year, millions of us  collectively make billions of interbank payments worth trillions of pounds. Whether receiving wages or paying bills (via Bacs/Direct Debit), or using a smart phone to send money to a friend (via... Continue Reading →

Reducing risks to the successful renewal of the UK’s interbank payment systems

The Payment Systems Regulator (PSR) has published a consultation setting out ways to reduce risks to the successful renewal of the UK’s interbank payment systems. Source: Payments Systems Regulator Whether receiving wages or benefits via Bacs, using a smart phone to send money to a friend via Faster Payments or paying bills through Direct Debit, interbank payments... Continue Reading →

Competition and Innovation in the UK’s New Payment Architecture

There are just ten days left to respond to the Payment Systems Regulator's (PSR) Call for Input on 'Competition and Innovation in the UK's New Payment Architecture' - the Call for Input closes on the 24 March 2020. The Call for Input can be found at: https://www.psr.org.uk/psr-publications/consultations/new-payments-architecture-call-for-input The PSR state that they have issued the... Continue Reading →

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