The Payment Systems Regulator (PSR) has published its Annual Report and Accounts for 2024/25, outlining progress made at the midpoint of its five-year strategy. The report highlights the implementation of the authorised push payment (APP) scams reimbursement requirement, which has resulted in a high reimbursement rate for victims, and the expansion of Confirmation of Payee to cover the majority of Faster Payments transactions. It also details work on card fee reviews, collaboration with the Financial Conduct Authority (FCA) on open banking, and preparations for the PSR’s planned consolidation into the FCA. These developments are presented in the context of the PSR’s strategic focus on competition, innovation and consumer protection.

The Payment Systems Regulator (PSR) has published its latest data on the fraud-prevention and name-checking service, Confirmation of Payee (CoP), together with the results of its 2025 Authorised Push Payment (APP) fraud survey. The survey examines the effectiveness of the PSR’s mandatory reimbursement policy for APP scams, introduced in October 2024 and forms part of its wider work on fraud prevention.

The Payment Systems Regulator (PSR) has published new research into how consumers use and experience payment systems, with reflections from its head of strategy, analysis and engagement, Dan Moore. The report presents findings from focus groups conducted by Thinks Insight & Strategy, which explored various aspects of consumer behaviour in the UK. While consumers are generally satisfied with the performance, speed, and security of payment systems, concerns remain regarding fraud and the limited range of payment options, particularly for financially vulnerable groups. The PSR emphasises that understanding these behaviours is essential to shaping effective regulatory practices as it transitions to become part of the Financial Conduct Authority (FCA).

The Payment Systems Regulator (PSR) has published a document titled ‘APP scams reimbursement: Information on consumer communications for PSPs’. The purpose of this document is to facilitate compliance with PSR’s Specific Direction 20 (SD20, July 2024), which gives effect to its policy statements PS23/3 ‘Fighting authorised push payment fraud: a new reimbursement requirement’ (June 2023), ‘PS23/4 APP scams reimbursement policy statement (December 2023)’ and PS24/3 ‘The FPS APP scams reimbursement requirement: compliance and monitoring’ (July 2024).

The Payment Systems Regulator (PSR) has published policy statement PS25/2 regarding its new Compliance Monitoring Framework to oversee adherence to its directions and regulations. The framework details the PSR's methodology for evaluating compliance by firms' subject to the PSR’s directions (directed parties). It outlines principles guiding the monitoring process, methods of obtaining information, and procedures for addressing non-compliance, including potential enforcement actions.

The Payment Systems Regulator (PSR) has published a statement of policy (SoP) on its review framework for generally applicable requirements. The framework sets out how the PSR will identify the potential need for a review, how stakeholders can request a review, the prioritisation criteria the PSR will apply to determine whether to conduct a review and the review methods it may use.

The Payment Systems Regulator (PSR) has published an analysis by its head of the Supervision and Compliance Monitoring division, Oliver Hanmer, examining the need for a regulatory framework that supports growth, innovation, and competition within the UK payments ecosystem. Hanmer outlines the increasing adoption of digital payments alongside the decline of traditional payment methods and refers to the government’s National Payments Vision, which outlines strategic objectives to promote innovation, competition, and security. The analysis emphasises that clear, proportionate, and adaptable regulation is essential to ensure consumer protection and system resilience while effectively supervising key payment system operators, including Pay.UK, LINK, Visa, Mastercard, and emerging entities such as Fnality. Furthermore, it notes that the planned consolidation of the PSR into the Financial Conduct Authority is a pragmatic step in simplifying the regulation of payments, reflecting that the sector has changed significantly.

The Payment Systems Regulator (PSR) has published its annual plan and budget for 2024-25. The report sets out key aims, activities and expected costs for the year 2024-25. The PSR are holding an Annual Plan 2024-25 event on Thursday 9 May 2024 to hear from stakeholders about the plan and to discuss it in more detail.

The Payment Systems Regulator (PSR) has published its annual plan and budget for 2025/26, setting out its commitments and priorities over the next financial year, as it moves towards consolidation with the FCA.

The Payment Systems Regulator (PSR) has published a consolidated document on the authorised push payment (APP) scam reimbursement requirement within the Faster Payments system. The requirement came into effect on 7 October 2024.

The Payment Systems Regulator (PSR) has, in its decision MR22/2.9, decided not to pursue an interim cap on United Kingdom–European Economic Area (UK-EEA) cross-border interchange fees. In its final market review report published in December 2024, the PSR concluded that capping these fees is the only effective remedy to address harm to merchants and consumers arising from post-Brexit fee increases on UK-EEA card-not-present transactions. However, following its remedies consultation, which closed in February 2025, the PSR now considers it more effective to implement a single long-term cap once it has determined the appropriate level. It found that the expected benefits of an interim cap have diminished due to ongoing judicial review proceedings brought by Mastercard, Visa and Revolut, and highlighted stakeholder concerns about the risks and costs of introducing two caps in close succession and the absence of new evidence to support an interim level. The PSR has therefore decided to focus on developing a robust methodology for a longer-term cap, with its consultation MR22/2.8 on the proposed approach open until 21 November 2025.

In advance of the 7 October 2024 start date for the Faster Payments Scheme (FPS) authorised push payment (APP) scams reimbursement requirement, the Payment Systems Regulator (PSR) has published policy statement PS24/6: Supporting the identification of APP scams and civil disputes, alongside finalised guidance aimed at assisting payment services providers (PSPs) distinguish between a reimbursable APP scam and a private civil dispute.