UK cash system needs revamp, says Payment Systems Regulator chair
Charles Randell says regulator will look at entire cash provision infrastructure in 2019
The system governing access to cash in the UK needs to be looked at “afresh”, the chair of the country’s Payment Systems Regulator told lawmakers on February 12.
Appearing before the Treasury Select Committee (TSC), Charles Randell said there was a “profound change” occurring in the cash industry, resulting in issues for a number of consumers that depend on free cash access.
“We have agreed the whole system needs to be looked at afresh. The board [of the PSR] has approved a proposal to look at
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