On 5 March 2019, the Payment Systems Regulator (PSR) published Policy Statement 19/1: Onshoring EU regulatory technical standards under the Interchange Fee Regulation (PS19/1).

In PS19/1 the PSR sets out the final EU Exit instrument for onshoring Commission Delegated Regulation (EU) 2018/72 supplementing Article 7 of the Interchange Fee Regulation (IFR). Article 7(1)(a) of the IFR requires payment card schemes and processing entities to be independent in terms of accounting, organisation and decision-making processes. The Commission Delegated Regulation sets out the specific requirements applicable to payment card schemes and processing entities.