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Market review into the supply of card-acquiring services

Last updated: 30 September 2019

We are carrying out a market review into the supply of card-acquiring services and on this page, you will find links to the information we publish about this review.  

Card payments are critical to the smooth running of the UK economy. They are a popular way for people to pay for goods and services, and their use is growing.

For merchants to accept card payments, they need to buy card-acquiring services. The costs of these services may ultimately be reflected in the prices and services they offer to their customers.

We are carrying out a market review into card-acquiring services following concerns that the supply of these services may not be working well for merchants, and ultimately consumers.

We published the draft terms of reference for our work in July 2018. We published final terms of reference in January 2019 taking account of the feedback we received.

As part of our work, we will examine how competition in the supply of card acquiring services operates. This includes looking at the fees merchants pay for card-acquiring services and the quality of service they receive.

We are now gathering evidence and information from a range of stakeholders using a variety of methods. We are also publishing methodology or approach papers to seek views at an early stage on some of the analysis we propose to carry out.

On this page, you will find helpful links to documents and announcements associated with this market review.

Consultation documents

Our consultation document on the draft terms of reference - published 24 July 2018

Our consultation document on our proposed pass through analysis - published 8 February 2019

Our consultation document on the approach to the merchant survey - published 22 May 2019

Our consultation document on our merchant survey questionnaire - published 5 July 2019

Our consultation document on our profitability analysis - published 11 July 2019

Responses to consultations

Responses to draft terms of reference - published 24 January 2019

Responses to proposed pass-through analysis - published 20 June 2019

Responses to proposed merchant survey - published 30 September 2019

Final documents

Final terms of reference: market review into the supply of card-acquiring services - published 24 January 2019

News and announcements related to the card-acquiring services market review

Payment Systems Regulator announces market review into card-acquiring services - published 24 July 2018

Matthew Cherry's speech for PSE Consulting Merchant Acquiring Conference - 14 November 2018

PSR update on its market review into the supply of card-acquiring services - published 11 December 2018

PSR confirms market review into card-acquiring services - published 24 January 2019

Update on publication of the interim report - published 22 July 2019

Update on our approach to the profitability analysis for our market review into card-acquiring services - published 18 September 2019

General submissions (other than in response to consultations)

General submissions received Q1 2019 - published 4 July 2019