The PSR today published a call for input into competition and innovation in the UK’s new payments architecture (NPA).
The document includes details of the potential competition issues that the PSR have identified in relation to the NPA which will be the new way firms will organise the clearing and settlement of most of the UK’s domestic interbank payments.
The PSR is seeking views from interested parties in order to help it develop the regulatory framework for the NPA. They are especially looking for comment from:
- users of payment systems
- payment service providers
- participants in the NPA CIS procurement
The call for input is structured around:
- some hypotheses about possible harms to competition and innovation
- possible mitigations to those harms
- key questions for stakeholders about those harms and mitigations
Comments are invited by 24 March 2020.