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In 2018, the Payment Systems Regulator (PSR) started a market review into whether the supply of card acquiring services – that enable merchants to accept card payments – was working well for UK merchants and ultimately consumers.
UK Finance has welcomed the opportunity to engage with this Card Acquirer Market Review - payments are a fundamental part of the UK economy and ensuring businesses can accept payments from their customers, with ease and adequate protection from default risk, is important. UK Finance has engaged throughout the lifecycle of the Card Acquirer Market Review with the PSR, responding to consultations and providing industry insight where necessary.
During 2022, UK Finance has responded to the remedies proposed by the PSR and is expecting a final report in the Autumn.
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