CP18/8: PSR regulatory fees

We have reviewed the regulatory fees regime for the Payment Systems Regulator (PSR).

Background

We launched a review of our approach to fees collection and allocation in the summer of 2017, following previous feedback from stakeholders and upcoming industry developments.

This document (CP18/18) forms part of that review, and follows the last two consultations in August 2017 (CP17/30) and December 2017 (CP17/44).

What is in this document?

This document set out our decisions on the questions we asked in CP17/44:

• our fees allocation method, including our proposed methodology of allocating PSR fees based on fee payers’ transaction volumes and values, the scope of relevant transactions and the definitions used
• further details of our fees collection method, including the provision of transaction data by operators, the verification of that data, the provision of contact details and the relevant dates

These decisions will take effect from 2018/19.

The document also poses further questions for consultation:

• Our approach to publishing annual fees figures in future
• Updated definition of relevant transactions for fees allocation
• Our approach to on-account fees collection from 2019/20 onwards
• Refund of underspend, including the 2017/18 underspend

Who should read this document?

This document is relevant to:

• participants in regulated payment systems under FSBRA
• IFR regulated persons
• PSD2 regulated persons

Next steps

We welcome stakeholder feedback on our proposals. Please send us your comments on the questions in this consultation paper by 5pm on 10 May 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