Together with the Payment Systems Regulator (PSR), we are considering whether and how to review the approach to allocating and collecting the PSR regulatory fees in 2018/19 and in subsequent years.
We have taken on board feedback about the existing approach to the allocation and collection of fees, and consider it the right time to review the current methodology.
We want to ensure that the approach to fees is proportional, encompasses the drive to promote competition in the market, and is flexible enough to withstand industry developments.
This includes, for example, the creation of the New Payment System Operator (NPSO) and the implementation of the Payment Services Regulations 2017 (PSD2).
What we are consulting on
The way we collect PSR fees
We propose to collect PSR fees directly from fee payers, rather than to collect them indirectly via operators of payment systems.
The way we allocate PSR fees to fee payers
We are consulting on whether we should revise our approach, for example, by using each fee payer’s transaction volumes and values to allocate PSR fees.
We are consulting on how we will allocate fees to respond to a number of changes that will take place in 2018. These include how we intend to treat PSPs that are implementing ring-fencing and how we intend to allocate fees in relation to PSD2.
We welcome your views on the proposals in this consultation by 5pm on 28 September 2017.
You can email your views to: [email protected]
You can also write to: Payment Systems Regulator, Fees team, 25 The North Colonnade, London E14 5HS
This is the first in a series of consultations which will be published around November 2017 and March 2018.
The confirmation of the PSR fee rates for 2018/19 will be published in June 2018.