Last updated: July 2026

Market review into card scheme and processing fees

Cards are the most popular way for consumers to make a payment. To accept card payments, merchants must pay certain fees which can ultimately impact the cost we all pay for goods and services. We want to understand whether card payments are working well and to make sure that merchants, and ultimately consumers, get a good deal.

Scheme fees are those charged by scheme operators to participate in the scheme, while processing fees are those charged for the authorisation, clearing and settlement of payments.

In our card-acquiring market review (CAMR), we found that the scheme fees paid by acquirers had increased significantly from 2014 to 2018. Further feedback from stakeholders also highlights that scheme fees have continued to increase since then. The PSR wanted to understand whether the markets in connection with scheme and processing fees are working well. Our work in this area examined the levels, structure and types of scheme and processing fees, building on the PSR’s CAMR findings.

The final report of our market review found that Mastercard and Visa don’t face competition with fees rising and a lack of clarity on how much businesses will have to pay to accept card payments. In 2025, we consulted on remedies to address these issues. 

We are giving two final specific directions to Mastercard and Visa (the schemes) to implement the Information, transparency and complexity (ITC) remedy and the Pricing Governance remedy, following our market review of card scheme and processing fees. We are currently consulting  on a draft direction for a third remedy – regulatory financial reporting.

You can find the latest announcements and publications related to the market review below:

Documents

Press releases and thought pieces