We are considering whether and how to review our approach to allocating and collecting our regulatory fees in 2018/19 and in subsequent years.
Why are we publishing this document?
We have taken on board feedback about our existing approach to the allocation and collection of fees, and consider it the right time to review our current methodology.
We want to ensure that our approach to fees is proportional, encompasses our drive to promote competition in the market, and is flexible enough to withstand industry developments. This includes, for example, the creation of the New Payment System Operator (NPSO) and the implementation of the Payment Services Regulations 2017 (PSD2).
What are we consulting on?
|Consultation element||What are we proposing?|
|The way we collect PSR fees||
We propose to collect PSR fees directly from fee payers, rather than to collect them indirectly via operators of payment systems.
|The way we allocate PSR fees to fee payers||
We are consulting on whether we should revise our approach, for example, by using each fee payer’s transaction volumes and values to allocate PSR fees.
We are consulting on how we will allocate fees to respond to a number of changes that will take place in 2018. These include how we intend to treat PSPs that are implementing ring-fencing and how we intend to allocate fees in relation to PSD2.
What happens next?
After reviewing the responses we received to the August consultation on PSR regulatory fees, we have concluded that we will require more time before we publish our next consultation.
This will allow us to consider the proposals in greater depth and identify the right balance among stakeholder views. This will also enable us to speak with stakeholders who have expressed an interest in further dialogues with us after the close of our August consultation.
We therefore plan to publish our next consultation in December 2017 instead of in November as indicated in our provisional timetable published in August. We do not expect that this change will impact on the proposed timing of our third consultation in March.
This consultation marks the first in a series of consultations which will run around November 2017 and March 2018.
The confirmation of the PSR fee rates for 2018/19 will be published in June 2018.
We welcome stakeholder’s views on our proposals for this consultation by 5pm on 28 September 2017.
You can email us at PSRfees@psr.org.uk or write to us at the following address:
Payment Systems Regulator Ltd
25 The North Colonnade
London E14 5HS