As part of our card scheme and processing fees market review, we are publishing our third working paper.

Why are we publishing this document and what does it contain?

Through our market review, we want to understand whether the supply of scheme and processing services is working well, with regards to our statutory objectives of competition, innovation and service-user interests.  

This working paper outlines recent changes to scheme and processing fees. It calls for views on our emerging thinking around how Mastercard and Visa, the two largest card payment system operators in the UK, approach fee changes and what their approach may suggest about competition in the cards market. 

Who should read this document? 

This document is relevant to various individuals or organisations with an interest in making, receiving or processing card payments - in particular, issuers, acquirers, schemes, merchants and cardholders.  

What happens next?

We welcome feedback on this working paper until 5pm on 11 August 2023. You can email any feedback to or write to us at the following address:

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

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