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UK regulator wants banks to sell their stake in payments infrastructure

PSR says the ownership of infrastructure by a handful of banks damages competition and innovation; unveils a raft of proposals, including forcing banks to sell their interest in VocaLink

hannah-nixon
Hannah Nixon: "Our proposals will increase competition"

The UK's Payment Systems Regulator (PSR) believes banks should sell their stake in the country's payments infrastructure, as part of a set of proposals designed to boost competition unveiled on February 25.

The core infrastructure for retail payments in the UK is operated by VocaLink, a private for-profit company owned by a handful of the country's largest banks.

"The evidence published today

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