The PSR has powers under section 56 of the Financial Services (Banking Reform) Act 2013 (FSBRA) to grant payment service providers (PSPs) access to certain regulated payment systems.
We also have powers under section 57 FSBRA to vary the terms of agreements for access to certain regulated payment systems. These powers also enable us to vary the fees and charges payable in connection with the use of services provided by regulated payment systems. We can only use these powers if a person submits a formal application to us.
We are consulting on draft guidance as to how we will assess applications under sections 56 and 57 FSBRA. We welcome stakeholder comments on our draft guidance.
Read the draft guidance.
Back to the landing page for PSR CP 16/4.