On 16 March, the Payment System Regulator (PSR) released an update on their publication of the interim report on card-acquiring services. It was originally thought that the report would be published in late 2019 but it is now advised that it will be published in June 2020 for consultation (Covid-19 dependent).
The market review, launched in January 2019, examines the supply of card-acquiring services (services to accept and process card payments on behalf of a merchant resulting in a transfer of funds to the merchant) is working well for merchants, and ultimately consumers.
After the publication of the interim report and considering the written responses received, the PSR also plans to carry out a programme of stakeholder engagement to listen to and discuss stakeholders’ views. The PSR will consider these views carefully before publishing the final report.