We are carrying out two market reviews - scheme and processing fees and cross-border interchange fees. Here, we set out the details of our market review of scheme and processing fees.

The reviews focus on Mastercard and Visa as these two card payment system operators account for 99% of debit and credit card payments in the UK. 

On scheme and processing fees, the PSR is carrying out this review because our card-acquiring market review (CAMR) found that the 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 wants to understand whether the markets in connection with scheme and processing fees are working well. This market review will examine the levels, structure and types of scheme and processing fees, and builds on the PSR’s CAMR findings.

What this document contains

This document contains consultation questions based on our proposed scope and approach to our review of scheme and processing fees.

What happens now?

The draft terms of reference for the market reviews are open for consultation until 5pm on Tuesday 2 August. The PSR is interested to receive feedback on these draft terms of references and welcomes any evidence in support of submitted views.

During the consultation period the PSR will also be running series of engagement events and will be encouraging stakeholders to take part to help shape the scope of the reviews.

You can email your comments to cardfees@psr.org.uk or write to us at:

Scheme and processing fees market review team
Payment Systems Regulator
12 Endeavour Square
London E20 1JN

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