PSR publishes indirect access ToR: PSR has published the final ToR for its market review into the supply of indirect access to payment systems. The review will cover indirect access to:

  • BACS;
  • CHAPS;
  • Cheque and Credit;
  • Faster Payments Scheme; and
  • LINK.

The review will consider the following questions:

  • What prices, service and choice do indirect Payment Service Providers (PSPs) want and receive?
  • What factors may limit the number of Independent Access Providers (IAPs) in the market?
  • What is the state of competition in the provision of indirect access?
  • What options are there to improve indirect access to interbank payment systems?

The outcome of the review could result in PSR making either PSP-specific or industry-wide recommendations or even a Competition and Markets (CMA) market investigation. (Source: Market Review into the Supply of Indirect Access to Payment Systems: Terms of Reference)