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New Payments Architecture deadline scrapped by UK regulator

( May 9, 2025, 16:08 GMT | Official Statement) -- MLex Summary: The UK’s Payment Systems Regulator has said it will revoke the July 2026 deadline for upgrading the Faster Payments central infrastructure. The PSR said that following the publication of the National Payments Vision in November, the existing infrastructure will likely be operational for significantly longer than previously expected. The regulator had consulted on amending the direction containing the deadline, but said that following feedback, it would scrap it entirely. The PSR said it is also considering scrapping a similar direction concerning BACS payment infrastructure, and feedback on that proposal is invited until June 5.Statement below, document attached. ...

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