On 8 May 2025, the Payment Systems Regulator (PSR) published a specific direction revoking Specific Directions 3 and 3a on the competitive procurement of central infrastructure.

Specific Direction 3, which was issued in June 2017, imposed requirements on the operator of the Faster Payments Scheme (FPS), in particular that contracts for central infrastructure services had to be competitively procured. Those requirements were varied in December 2021 by Specific Direction 3a.

In light of “changed circumstances”, the PSR has decided to revoke Specific Directions 3 and 3a, with effect from 21 May 2025.