The Payment Systems Regulator published its 2026/27 annual plan on 26 March, setting out three strategic priorities for its final full year before functions transfer to the Financial Conduct Authority.
Card fees form the centrepiece of the programme. The PSR will implement two remedies from its market review of scheme and processing fees. The first is an information transparency requirement forcing card schemes to provide acquirers with clear, actionable pricing data. The second is enhanced regulatory financial reporting, on which the PSR will consult by 31 March 2026. Cross-border interchange fee reform will also advance during the year.
APP fraud remains the second pillar. The regulator will publish and respond to the independent evaluation of the first year of mandatory reimbursement, which took effect in October 2024. The PSR confirmed it will maintain existing fraud protections while monitoring compliance across payment service providers.
On infrastructure, the PSR will work through the Payments Vision Delivery Committee alongside the Bank of England, HM Treasury, and the FCA. The committee oversees delivery of the New Payments Architecture. The annual budget covers supervision of Faster Payments, BACS, and CHAPS during the transition period to FCA oversight.