Payment Systems Regulator Market Review into Card Schemes: Ecommpay response
The Payment Systems Regulator (PSR) has published its market review into card scheme and processing fees. Willem Wellinghoff, Chief Compliance Officer, Ecommpay comments:
“Credit and payment cards are fundamental to the UK economy; it is vital therefore that the schemes underpinning cards deliver fair services for Merchant Acquirers and Merchants. The PSR’s review has identified areas for improvement, with a consultation to be announced shortly on potential remedies to address the issues.
“Whilst it is too early to speculate, the consultation will hopefully lead to a more fair and balanced approach to Merchant Acquirers, and ultimately Merchants which can only be good for the UK economy as a whole.
“Ecommpay will welcome the opportunity to contribute to the consultation to provide our perspective from a PSP point of view.”
To read the PSR Report visit MR22/1.10 Market review of card scheme and processing fees: final report | Payment Systems Regulator