PSR publishes its annual plan and budget for 2022/23

PSR has published its 2022/23 annual plan and budget.

PSR stated that the payments landscape is evolving and there are issues that need to be addressed. These include the prevalence of APP fraud, risks to effective competition, and the need to support the payments sector to deliver new and improved services. PSR expects further challenges such as global events impacting the cost of living, which may affect what people need from payments to support their daily lives.

Over the next year, PSR’s strategic priorities are:

  1. enhancing access and choice;
  2. ensuring there is appropriate protection for payments;
  3. maintaining effective competition; and
  4. unlocking account-to-account payments.

PSR has also published a factsheet of their key projects.

In the summer, PSR will publish our annual report summarising how they have performed against their 2021/2022 Annual Plan. 

Harshil Patel