This paper explains how we propose to calculate and collect PSR fees from participants in regulated payment systems.
Why are we publishing this paper?
This document sets out our decision to allocate PSR fees between payment systems based on equal allocation across regulated pan-UK payment systems (with the two regional cheque systems, C&C and NICC, counted as a single system for fee allocation purposes).
The paper also includes our consultation on calculating and collecting fees from participants in each regulated payment system. Our preferred approach is ‘indirect billing’ – direct members of regulated payment systems will be liable for PSR fees, which will be collected on our behalf by payment system operators. This approach minimises the regulatory burden on industry.
This contrasts with the original approach we proposed (’billing operators’), which we include here as background, but do not propose to implement.
Who is this paper aimed at?
This document is relevant to all participants in the UK payment systems industry, in particular operators and payment service providers which are direct members of regulated payment systems.
CP15/26: PSR regulatory fees 2015/16 (PDF)
What are the next steps?
We want to know what you think of our proposals and welcome comments using our online response form by 17 September 2015.
Want to find out more?
For more information see:
Supporting Paper 5 - Interchange fees (PSR CP14/1.5)