As card schemes implement a substantial hike in fees, the PSR is stepping in to protect consumers and businesses.
Highlights:
- The PSR has identified a 25% increase in card scheme fees impacting consumers and businesses.
- In response, the PSR is planning to take regulatory action to ensure fair pricing.
- This move aims to enhance competition and alleviate the financial burden on users and businesses.
The Payment Systems Regulator (PSR) is taking significant steps to tackle the recent surge in card scheme fees, which have risen by 25%. This increase poses a financial challenge for both consumers and businesses, prompting the PSR to uphold fair practices in the payment sector. The forthcoming actions are designed to foster competition and ensure that the costs associated with card payments do not become untenable for users.
