The Payment Systems Regulator (PSR) has published its latest report on access to payment systems, and the governance of those systems.
In terms of where there can be further improvements the report notes:
- the PSR wants payment systems operators to finish their work in developing access models and solutions that facilitate the development of aggregators (typically technology vendors, who provide payment service providers with connectivity to the central infrastructure of a payment system) by the end of the year. The PSR expects them to be ready to progress applications from non-bank payment service providers (PSPs), in light of possible upcoming changes to the Bank of England’s settlement account policy; and
- the PSR would like indirect access providers (IAPs) to look again at the voluntary Code of Conduct they developed and consider how they can improve PSPs’ awareness of and confidence in it. The PSR also expects IAPs to address some quality-related issues affecting PSPs who choose indirect access.
View Access and governance report on payment systems 2017, 9 March 2017