Laura WilesThe PSR had planned to consult in April 2025 on adopting Reporting Standard B and whether to put in place regulatory requirements for Pay.UK’s reimbursement claims management system. Having considered stakeholder feedback on system development and the National Payments Vision (including the Pay.UK review), it is now deferring the timing of the consultation in order to take account of the direction of travel of the NPV. Subject to this, the PSR anticipates being able to consult within three to six months.
In line with its previous plans, the consultation will consider:
- a deadline for adopting Reporting Standard B by no later than December 2026; and
- placing additional regulatory obligations on Pay.UK necessary to enable it to meet its compliance monitoring obligations.