Skip to Primary Navigation

Skip to main content

UK government abolishes payments watchdog “to reduce burden on business”

Credit cards placed on top of each other
The PSR has been facing complaints from payment services in the UK. Photo: Anna Barclay/ Getty Images

Hameed Shuja

2 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

The announcement is the latest step in the drive to cut back regulation and boost economic growth.

The UK government has announced the abolishment of the country’s Payment System Regulator (PSR) in what it calls “the latest step in reducing the burdens on business.”

In a press release, the government has once again insisted regulation will be cut back as part of the Prime Minister Keir

“The

, , , , , , , , , ,

Get full access, free for a month

Start your 28-day free trial to continue reading and access
all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience