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Regulatory Influencer: PSR Sets Out Next Steps on Expanding Variable Recurring Payments in the UK

Earlier in August, the Payment Systems Regulator (PSR) published a response to its December call for views on variable recurring payments (VRPs) and their expansion in the UK. The call for views set out initial proposals on how the PSR could support the Phase 1 expansion of VRPs to regulated financial services, regulated utilities sectors, and local and central government. The PSR’s latest publication summarises stakeholder feedback on the expansion of VRPs, revealing support for better coordination, but concerns about the need for a multilateral agreement (MLA) and, within that, a central price. 

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