United Kingdom (and EU regulation)

PSR call for input: Card payment systems

By on June 25, 2015 Posted in Retail, United Kingdom

The Payment Systems Regulator (PSR) has published a call for input on card payment systems.

The deadline for responding to the call is 31 July 2015 and in summary the PSR wishes to:

develop its understanding of card systems fees and how they may be affected by reactions to the new EU Regulation on interchange fees for card based payment transactions (the MIF Regulation);
build its understanding of the provisions on business rules and functional separation included in the MIF Regulation and their potential impacts;
develop a policy for monitoring compliance with and enforcing the MIF Regulation, subject to it being designated as a competent authority; and
gather information on other possible concerns parties may have relating to indirect access, transparency of information and the decision making process, governance and how service-users’ interests are represented in decision making in card systems.