We set out our decision on the way we will collect our regulatory fees in 2018/19 and in subsequent years, and are consulting further on our proposed fees allocation method.
Background
In light of previous feedback from stakeholders and upcoming industry developments, we launched a review of our existing approach to fees collection and allocation.
Why are we publishing this document?
In August 2017 we published a document to consult on our approach.
In this document, we set out our decision and further consultation questions on a number of elements related to our regulatory fees. They include:
|
Element |
Decision/Proposal |
Reason |
|
The way we collect PSR fees |
We set out our decision to collect PSR fees directly from fee payers, rather than collecting them indirectly via operators of payment systems, from 2018/19. We are consulting on further amendments to the fees rules that will enable us to implement our proposal. |
This approach will make our fees collection process simpler and more efficient. It will also reduce the administrative burden on operators and the payment services providers that pay PSR fees. |
|
The way we allocate PSR fees |
We are consulting further on a fees allocation method that is based on the volumes and values of the fee payers’ transactions in the payment systems we regulate. We are also consulting on the draft amendments to the fees rules that reflect the fees allocation proposal. |
We consider that the proposed fees allocation method is fit for purpose because it is proportionate, simple and efficient to administer, resilient enough to not require frequent rule changes, and unlikely to introduce any negative impact on competition. |
|
Other issues relating to our fees allocation |
We set out our decisions on a number of issues we consulted on in August, e.g. if we should introduce any transitional measure, how we should treat fees as regards our functions under PSD2, and how we treat fees for PSPs that need to implement retail bank ring-fencing. We are consulting on a number of other issues, e.g. the types and scope of transactions for fees allocation, and the minimum thresholds for fees allocation
|
The decisions and further consultation on these issues will help us to develop our fees allocation methodology. |
Who is this consultation relevant to?
This document is relevant to:
- participants in regulated payment systems under FSBRA
- IFR regulated persons
- PSD2 regulated persons
Please note that this consultation paper contains no material directly relevant to consumers or consumer groups.
Next steps
We welcome stakeholder feedback on our proposals. Please send us your comments on the questions in this consultation paper by 5pm on 26 January 2018.
You can email us at PSRfees@psr.org.uk or write to us at the following address:
Payment Systems Regulator Limited
Fees team
25 The North Colonnade
Canary Wharf
London E14 5HS