On 26 March 2026, the Payment Systems Regulator (PSR) published its annual work programme 2026/27.
The work programme sets out what the PSR intends to deliver in 2026/27 and focuses on eight priorities, in particular:
- Delivering the National Payments Vision: Supporting the design and build of the future infrastructure, recognising the anticipated regulatory roles of the PSR and the Financial Conduct Authority (FCA) alongside the Bank of England. The PSR will also continue to oversee Pay.UK and the short‑term enhancements to Faster Payments.
- Continuing action on APP fraud: Publishing the independent evaluation of action so far and consider whether it needs to take further action, as well as continuing to collect and monitor data to show the impact of its work transparently and clearly.
- Enhancing its approach to supervision and enforcement: Continuing to refine its supervision and enforcement models, building on existing capabilities. In particular to align its supervisory model with FCA practices.
- Taking action on card fees: Continuing to progress its work in relation to cross-border interchange fees and consider next steps and, in relation to domestic scheme and processing fees, consult on its final remedy on regulatory financial reporting.
- Developing its cards markets strategy: Considering its approach to competition in cards markets in the round, taking account of other market developments.
- Driving forward open banking: Continuing to support the FCA in establishing a long-term regulatory regime and a future entity to oversee open banking.
- Evaluating its card-acquiring market review: Reviewing the effectiveness of the specific directions it issued following its market review into the supply of card-acquiring services.
- Supporting consolidation with the FCA: The PSR highlighted that consolidation will be a critical priority for the coming year and that across its work, it intends to provide clarity and certainty for regulated entities in relation to this.