UK’s New Payment Architecture brings ‘unacceptably high risks’ – regulator
Payments regulator warns new platform may be too costly and could quash competition
The UK’s Payment Systems Regulator has raised concerns the country’s New Payment Architecture will not provide value for money and could “stifle” competition.
In a statement published February 5, the PSR – a subsidiary of the Financial Conduct Authority – launched a consultation in response to “unacceptably high risks” posed by the NPA programme.
“The current NPA programme will not provide value for money and could stifle competition which could, in turn, delay the development of products and
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