PSR CP22 1 CAMR Remedies Consultation Jan 2022

CP22/1: Card-acquiring market review initial remedies consultation

26/01/2022 Size: 804.607 KB card-acquiring card-acquiring services Consultation paper


On 26 January 2022, we published our initial remedies consultation for the card-acquiring market review.

What does the publication outline? 

The publication sets out proposals to improve services and choice for merchants. To make sure the market works better for merchants, we are considering the following four potential remedies:

  1. Greater transparency: to help merchants understand the pricing elements of any services they use, card-acquirers should provide summary information boxes setting out key price and non-price service elements of card-acquiring services. These should be in both bespoke form and published with general information in generic format.
  2. Access to comparison tools: like price comparison websites, the PSR wants the industry to help stimulate Digital Comparison Tools (DCTs) for merchants so they can see whether they are getting the best deal.
  3. Greater engagement: to help merchants know when their contracts are due for renewal, there needs to be an agreed standard of messaging by providers that will help merchants understand that their contract is due for renewal and the terms of the contract on an annual basis.
  4. The ability to change providers easily: the PSR wants to address barriers to switching between card-acquiring services, which arise from Point of Sale (POS) terminal leases,​ by looking at potential options for merchants to switch without incurring undue cost or suffering inconvenience from having to also exchange their POS terminal. This may include the replacement of terminals by POS terminal lease providers for instance.  

What are card acquiring services and why do they