Following a consultation in August, the Payment Systems Regulator (PSR) has now published a document that sets out our decision on the approach to the collection of PSR regulatory fees from 2018/19 and further consultation questions on our proposed fees allocation method.
This document forms part of the PSR’s review of our existing approach to collecting and allocating regulatory fees for the PSR in light of previous feedback from stakeholders and upcoming industry developments.
This document sets out our decision on our fees collection method and further proposals to refine it. After feedback from our August consultation we have decided to collect our regulatory fees directly from the fee payers rather than indirectly via operators of payment systems. This will be more efficient and will reduce the administrative burden for operators and payment services providers.
We are also consulting further on our fees allocation method and other relevant policy issues. Following comments on the proposed changes outlined in our August consultation, we discuss our analysis in this document and propose a fees allocation method that we think is the most appropriate. We are also asking further questions to help us refine the way we allocate fees and are proposing amendments to our fees rules. Our approach is to make sure we have a simple, sustainable and proportionate approach to allocating our regulatory fees to fee payers.
The consultation closes at 5.00pm on 26 January 2018 and we would welcome your comments. Please send your response to [email protected] or write to us at:
Payment Systems Regulator Ltd
25 The North Colonnade
London E14 5HS
About the PSR
Our statutory objectives underpin everything we do. In summary these are:
- to ensure that payment systems are operated and developed in a way that considers and promotes the interests of all the businesses and consumers that use them
- to promote effective competition in the markets for payment systems and services – between operators, PSPs and infrastructure providers
- to promote the development of and innovation in payment systems, in particular the infrastructure used to operate those systems
For further information on the PSR please visit our website by clicking here