The UK Payment Systems Regulator (PSR) has published its decisions to revoke:
- From 27 August, Specific Direction 2, which requires all central infrastructure for Bacs to be competitively procured (and Specific Direction 2a which varied the requirement). This decision stems from work to deliver the National Payments Vision (NPV) and aims to provide the necessary space and certainty for work to deliver the NPV.
- From 25 August, Specific Direction 4, which requires the operator of the LINK payment system to procure any future contracts for central infrastructure services in a competitive manner (and Specific Direction 4a which varied the requirement). This decision aims to ensure that LINK and its members have the regulatory clarity they need to focus on their longer-term sustainability and the delivery of an efficient network, given that due to changes in market conditions, a competitive tender obligation may no longer be an effective way to address the competition issues.
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