The PSR has published (PDF 1925KB) its 2024/25 annual plan and budget. As this is the third year of its five-year strategy, there are, unsurprisingly, no new areas of focus. However, Year 3 importantly sees the PSR's focus on key initiatives shift from development and into delivery and implementation. This includes the introduction of mandatory APP fraud reimbursement, the expansion of confirmation of payee (CoP), advancing work on the new open banking entity, and the implementation of any proposed remedies on card market fees. The PSR also reconfirm its support for a National Payments Vision, which is currently being developed by the government. Later this year, marking the halfway point of the strategy, the PSR will review progress and assess whether its priorities remain relevant. Reflecting its recent growth, the PSR's budget is increasing by 3.7% to £28m.