The initiative will be undertaken by the PSR Panel, led by Dr Ruth Wandhöfer, the PSR Panel Chair. The PSR has tasked the Panel to undertake this work in response to 2020’s Access to Cash Working Group’s recommendation for further work to enable digital payments.
The PSR Panel is ideally placed to undertake the review, drawing on the knowledge and experience of the panel members, through a series of subgroups and engaging with a range of stakeholders through the process. The PSR has tasked them to develop and understand the different uses for digital payments, assess what barriers there might be and identify what appropriate regulatory action might be required.
The regulator has set out four key areas of focus for the Panel to consider:
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