UK payments regulator finds ‘no effective competition’ for infrastructure
Report recommends action to introduce competition
The UK's Payment Systems Regulator (PSR) finds there is "no effective competition" for the provision of payments infrastructure, in a report published on July 28.
The report says VocaLink, the company that provides the infrastructure for the UK's three major retail payment systems, has faced "limited competitive pressure".
In part because it is owned by the payment system providers, namely the UK's largest banks, VocaLink has faced little pressure from other potential infrastructure options, the
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