PSR – FinTech and Blockchain Law Watch

UK Regulator Ready to Take on Visa/MasterCard Payment Networks

Jun 28 2022

The UK Payment System Regulator (“PSR”), which is becoming increasingly assertive, issued on 21 June 2022 two consultations taking a closer look at the Visa and Mastercard “schemes” in the UK.^[1] The PSR proposes two market reviews: one into how Visa and Mastercard set the interchange fees; the other into how Visa and Mastercard set their scheme and processing fees. The market reviews will be conducted after the consultations close on 2 August 2022.

UK Regulatory Innovation Plan

Apr 10 2017

By Jonathan Lawrence

The UK Treasury has recently published its Regulatory Innovation Plan in relation to FinTech. The plan overviews the current work and future projects of the four UK financial services regulators: Financial Conduct Authority (FCA), Payment Systems Regulator (PSR), Prudential Regulation Authority (PRA) and the wider Bank of England (BoE). It examines how the regulators are adapting to and encouraging disruptive business models and also utilising new technologies to reduce regulatory burdens on business. Highlights include:

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