Value proposition

We are the UK's economic regulator of payment systems.

The Payment Systems Regulator (PSR) is the UK's economic regulator of payment systems.

We are here to make payment systems work well for those that use them. Our vision is for payment systems that are accessible, reliable, secure and value for money.

We are an independent subsidiary of the Financial Conduct Authority with our own statutory objectives and governance, Managing Director and Board. We were incorporated in April 2014 and became fully operational in April 2015.

Payment systems form a vital part of the UK’s financial system. They underpin the services that enable funds to be transferred between people and institutions – from large transfers between firms to a contactless payment for your morning coffee. These payment systems process some 40 billion transactions a year, worth around £92 trillion.

We have three statutory objectives: to promote competition; to promote innovation; and to ensure that payment systems are operated and developed in the interests of service-users.

Our aim is to ensure payment systems and the regulatory framework operate in the best interests of service-users and the wider UK economy − promoting rather than constraining innovation and competition.

Take a look at our latest vacancies: https://www.psr.org.uk/about-us/jobs-at-the-psr/

Regulation, Payments, Payment systems, Competition regulation, Innovation in payment systems, and Economic regulation