The PSR is consulting on whether its regulatory fee structure, which has been in place since 2018/19 is still appropriate. It plans to retain the current regime, but change the way in which fees are allocated, with a view to ensuring that payment system operators contribute to the cost of special project work of direct relevance to them. The main proposals:
- would charge no fee to firms whose calculated owed fee would be less than £100 and distribute the funding shortfall between remaining fee payers; and
- introduce a requirement that payment system operators, who do not currently contribute to the PSR’s operating fees, should now contribute to relevant one-off, significant and time limited activities. The PSR proposes to charge on a for-profit business model.
Consultation closes on 3 February 2023.