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PSR launches discussion paper on Data in the Payments Industry

On 13th June, the PSR launched a discussion paper on Data in the Payments Industry.

The stated purpose of the discussion paper is 'to engage with you on how data is used in payment systems, so we can make sure it works for everyone'. 

In the email out to stakeholders, the PSR provided the following additional information: 

The UK’s payments sector is rapidly evolving and data is becoming increasingly important. The way payments data is collected, used and shared presents opportunities for payment service providers (PSPs) and the people and organisations that use payment systems. It could create new business models and improve access for new entrants into the sector, stimulating competition and innovation. It could also enhance the detection of financial crime and strengthen protections. However, some of these opportunities might not happen through market forces alone.

We want to understand what role we might play to make sure new uses of data work well for the people and businesses that use payment systems. This could be through removing barriers to setting up new services, or through mitigating risks associated with them.

 We have identified three key areas which could directly affect our objectives:

We have also identified a number of issues that could potentially affect our objectives indirectly. There are either due to market competition and technological change, or are issues in areas where other regulatory agencies have the lead role. 

We want to gather industry and stakeholder views on our findings to make sure we can take the right action. In particular, we want to hear how changes in data use could have an impact on our objectives, and where we may consider developing policies or taking action to unlock benefits for consumers and businesses, or to reduce risks where appropriate.

Next steps

Responses must be submitted by 5pm on 3 September 2018. 

Your response can be emailed to or you can send them in writing to the following address: 

Payment Systems Regulator
Data project team
25 The North Colonnade
Canary Wharf

22nd June 2018

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