On 21 October 2024, the Payment Systems Regulator (PSR) issued a press release stating that it was looking to hear from businesses about how its card acquiring remedies were impacting them.
In particular the PSR is looking at:
- Whether businesses found it easy to locate the Online Quotation Tool (OQT) and the summary box under Specific Direction 14. Also, how accurate they found the OQT and summary box when compared to the actual prices they paid for their acquiring services.
- Whether businesses have seen the trigger messages provided under Specific Direction 15 and if they have ever acted on them as a result.
- Whether businesses have had any issues with hiring, or terminating the hire of, point of sale terminals since the 18-month contract limit set out in Specific Direction 16 was imposed.
The feedback gathered will help inform the PSR’s remedies progress report, which it plans to publish next year.