Last updated: 3 November 2021
We have been carrying out a market review into the supply of card-acquiring services and on this page, you will find links to the information we publish about this review.
Card payments are critical to the smooth running of the UK economy. They are a popular way for people to pay for goods and services, and their use is growing.
For merchants to accept card payments, they need to buy card-acquiring services. The costs of these services may ultimately be reflected in the prices and services they offer to their customers.
We have been carrying out a market review into card-acquiring services following concerns that the supply of these services may not be working well for merchants, and ultimately consumers.
We published the draft terms of reference for our work in July 2018. We published final terms of reference in January 2019 taking account of the feedback we received.
On 15 September 2020, we published our interim report on the supply of card-acquiring services which shows that merchants could make savings by shopping around and either switching or negotiating with their current provider – but many small and medium ones don’t.
On 3 November 2021, we published our final report on the supply of card-acquiring services.
On this page, you will find helpful links to documents and announcements associated with this market review.
Final report
Our final report on the supply of card-acquiring services - published 3 November 2021
Consultation documents
Our consultation document on the draft terms of reference - published 24 July 2018
Our consultation document on our proposed pass through analysis - published 8 February 2019
Our consultation document on the approach to the merchant survey - published 22 May 2019
Our consultation document on our merchant survey questionnaire - published 5 July 2019
Our consultation document on our profitability analysis - published 11 July 2019
Responses to consultations
Responses to draft terms of reference - published 24 January 2019
Responses to proposed pass-through analysis - published 20 June 2019
Responses to proposed merchant survey - published 30 September 2019
Responses to our proposed profitability analysis - published 24 December 2019
Responses to our consultation on the merchant survey questionnaire - published 24 December 2019
Final documents
Final copy of the merchant survey questionnaire - published 24 December 2019
News and announcements related to the card-acquiring services market review
Matthew Cherry's speech for PSE Consulting Merchant Acquiring Conference - 14 November 2018
PSR confirms market review into card-acquiring services - published 24 January 2019
Update on publication of the interim report - published 22 July 2019
PSR announces provisional findings of card acquiring market review - published 15 September 2020
PSR publishes the final report for its card-acquiring market review - published 3 November 2021
General submissions (other than in response to consultations)
General submissions received Q1 2019 - published 4 July 2019
General submissions received Q1 2020 - published 30 June 2020