These directions were introduced following specific concerns within the interbank payment systems sector.

At the time we committed to further considering whether access and governance directions should be introduced for card schemes.

We gathered information through our cards work programme, including our call for input on card payment systems, and by engaging with stakeholders across the industry over the past twelve months.

Based on the evidence we gathered, we do not believe that introducing new directions on card schemes at this stage would improve access and innovation. We also note that existing European legislation, specifically the Payment Services Regulations 2009, has delivered improvements on access to card schemes.

Therefore, at this time, we have decided against applying any new access or governance requirements to card payment schemes.

As part of our ongoing programme of work on cards, we will continue to consider these issues.