The
Payment Systems Regulator (PSR) is proposing to conduct a market review into
card acquiring services. It seeks
comments on its consultation on the draft terms of reference by 14 September.
The PSR finds that in the UK
in 2017, 13.2 billion payments were made by debit card and 3.1 billion payments
by credit card.
If merchants are to accept
payments by card, they need to purchase card acquiring services and the costs
they pay may be passed on to customers in the prices they charge.
The PSR wants to
be satisfied that the market for card acquiring services is working well for merchants
and ultimately benefits consumers.
Comments on the PSR’s
consultation can be made here.
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