On 16 March 2020, the Payment Systems Regulator (PSR) provided an update on when it intends to publish its interim report on the card-acquiring market review it is carrying out.
The market review, which was launched in January 2019, is examining whether the supply of card-acquiring services is working well for merchants, and ultimately consumers. Card-acquiring services are those which accept and process card payments on behalf of merchants, resulting in the transfer of funds to the merchant.
Initially, the PSR had intended to publish its interim report in late 2019. However, the update states that the PSR now plans to publish its interim report for consultation in June 2020. After publication of the interim report, and in addition to considering the written responses received, the PSR also intends to carry out a programme of stakeholder engagement (such as roundtable discussions) in order to listen to and discuss stakeholders’ views. These views will be considered carefully by the PSR before it publishes its final report.
The PSR notes that it is mindful of the impact that Coronavirus (COVID-19) could have on both its work and the ability to engage with stakeholders, so the format and timings of its engagement will depend on the situation at the time.