We have published our Annual Plan and Budget for 2023/24.
Being the independent economic regulator for payment systems in the UK, we have a vital role: protecting people from falling victim to fraud, helping businesses to grow and making it easier to make and receive payments in ways that work for all of us.
Our work
As we continue to focus on our strategic priorities of protection, competition, unlocking account-to-account payments and providing access and choice, we have set an ambitious work programme for 2023/24.
We will continue building on the significant pieces of work we already have underway, including securing better consumer protections against authorised push payment (APP) scams, as well as examining card fees to ensure businesses and consumers are getting a good deal on card payments.
We will also work to inject more competition into payments by unlocking the potential of open banking, shape the delivery of the UK’s interbank payments infrastructure, and make sure our regulation can adapt as new technologies and business models emerge.
To deliver this work successfully, in 2023/24 we will evolve our approach so we can be quick to respond to, and influence, emerging trends in payments. We will also boost our effectiveness by broadening our engagement with stakeholders and building a new team to increase our focus on reducing firms’ non-compliance with the rules we enforce.
Our budget
|
£17,790,560 |
66% |
|
£4,652,600 |
17% |
|
£3,355,235 |
12% |
|
£1,054,900 |
4% |
|
£121,500 |
1% |
|
Total |
£26,974,795 |
100% |
- Staff costs
- Professional fees (including specialist services, policy and legal advice, and communications services)
- FCA shared services (including accommodation and information services)
- Training, events and recruitment
- Other (subscriptions, memberships)
Find out more and get involved
To accompany the full Annual Plan and Budget published today, we have created a handy factsheet summarising our key projects, along with a short introductory animation, which will be shared on our social media channels: PSR LinkedIn and Twitter.
On 9 May 2023, we also will be holding an event for you to join us and discuss the plan in more detail. Throughout the day there will be plenty of opportunity to ask us questions and participate in themed breakout sessions where we will be joined by guest speakers.
In the summer, we will publish our annual report on how we have performed against our 2022/23 Annual Plan.
