On 10 October 2025, the Payment Systems Regulator (PSR) published a decision not to proceed with an interim cap for UK-EEA cross-border interchange fees, alongside a statement of reasons explaining this decision.

Summary

The PSR explained that in its earlier final report on the market review into the UK-EEA cross-border interchange fees, it had concluded that these fees should be capped. However, the PSR further explained that it has decided that the most effective way to give effect to this is to implement a cap in one step, once its work to determine an appropriate level for UK-EEA cross-border interchange fees has concluded.

Next steps

The PSR set out that it will continue to progress its work to develop a longer-term price cap, highlighting that its current consultation on the methodology for assessing an appropriate level for the cap is open until Friday 21 November 2025.