Payment Systems Regulator publishes Final Report in Card-Acquiring Services Market Review

 

Payment Systems Regulator publishes Final Report in Card-Acquiring Services Market Review

 

The Payment Systems Regulator has published its final report on its market review into the supply of card-acquiring services (MR18/1.8).

The PSR has considered how the market operates, the fees merchants pay for card-acquiring services, the quality of service they receive and barriers to market entry or to switching.

The PSR has found no evidence that the supply of card-acquiring services does not work well for the largest merchants (with annual card turnover over £50 million).

However, the PSR has found that the supply of card-acquiring services does not work well for small and medium-sized merchants and large merchants with annual card turnover between £10 million and £50 million.  The PSR intends to publish a remedies consultation in early 2022 to seek views on a suitable remedies package.  The remedies will be aimed to improve outcomes for these merchants by encouraging them to search and switch, or negotiate a better deal with their existing provider, and reducing the obstacles to getting a better deal.

The PRSR intends to publish its provisional decision on remedies (and potentially a draft remedies notice) for consultation later in 2022.

https://www.psr.org.uk/news-updates/latest-news/news/camr-final-publication/