PSR consults on scheme and processing fees

Following the report it prepared into the scheme and processing fees charged by Visa and Mastercard, PSR has set out a number of proposed remedies on which it is consulting:

• requiring Mastercard and Visa to provide more transparency on fees so acquirers and merchants can assess and act on relevant pricing information thereby bringing down acquirer costs;
• regulatory financial reporting to allow PSR to effectively monitor and understand the schemes’ financial performance on fees charged in the UK;
• better pricing governance to address the PSR’s concerns around the schemes’ pricing decisions; and
• publication of scheme information to increase transparency and ensure schemes can be held to account.

The consultation closes on 28 May 2025.