PSR has published its provisional determination on the extent to which any UK three-party card schemes qualify for a temporary exemption under the IFR. PSR based this determination on information from firms on UK domestic card-based payment transactions (see FReD 27 November). The provisional conclusion is that American Express and any payment service providers participating in the American Express scheme must comply with the interchange fee caps on UK domestic transactions until 31 March 2016. These interchange fee caps took effect on 9 December. (Source: PSR Issues Provisional Determination on Card Schemes Exempt from IFR Cap)