The Financial Services (Banking Reform) Act 2013 created the Payment Systems Regulator Limited (PSR), with three statutory objectives: to promote competition, to promote innovation, and to ensure that payment systems are operated and developed in a way that considers and promotes the interests of all the businesses and consumers that use them. 

This report summarises the PSR’s activities over the year 2024 to 2025. The PSR is required to publish this report under Paragraph 7 of Schedule 4 of the Financial Services (Banking Reform) Act 2013.