PSR confirms competition concerns about cross border card fees and proposes price cap to protect UK businesses

News Financial services Reports

Date: 13th Dec, 2024 Source: Payment Systems Regulator (PSR) Country: United Kingdom Original Source

Brief

"On December 13, 2024, the Payment Systems Regulator (PSR) issued an update regarding PSR confirms competition concerns about cross border card fees and proposes price cap to protect UK businesses. The regulator found that Mastercard and Visa increased their cross-border interchange fees fivefold, costing businesses £150-200 million extra per year, and is consulting on introducing a short-term price cap."

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Payment Systems Regulator (PSR)

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PSR confirms competition concerns about cross border card fees and proposes price cap to protect UK businesses

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PSR confirms competition concerns about cross border card fees and proposes price cap to protect UK businesses

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