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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
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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

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