Faster Payments responds to welcome the Payment Systems Regulator’s final report into the competition in the supply of indirect access to payment systems

Craig Tillotson, Chief Executive of Faster Payments, said:

“Customer demand for real-time payments means the importance of opening up access to our world-leading service has never been more important. We’re delighted by the PSR’s recognition of the progress of our access programme – 18 months in, we are now firmly moving from an innovative idea to competitive delivery. 

“The move from concept to reality will greatly benefit customers by stimulating competition between payment service providers of all shapes and sizes, whether they are an incumbent or a challenger - in another 18 months, the Faster Payments Scheme will unequivocally be demonstrating its power as an enabler of payment innovation for consumers, businesses and the economy in general.”