Final guidance on the PSR's approach as a competent authority for designation of alternative switching schemes under the PARs

This guidance sets out the PSR’s approach to designating alternative switching schemes, as set out in the Payment Accounts Regulations 2015 (the PARs), and our approach to monitoring their compliance with the PARs.

It also includes guidance on our powers and processes under the PARs, and guidance on penalties for non-compliance with the PARs.