The Payment Systems Regulator (PSR) is seeking feedback on its proposed approach to the allocation, calculation and collection of PSR regulatory fees for 2016/17 by way of a consultation.

What this means for you

The PSR was introduced in 2015 to independently regulate the payment systems sector. It requires fees to fund its functions and activities under the Financial Services (Banking Reform) Act 2013 and the new EU Interchange Fee Regulation (IFR). The deadline for interested parties to respond to the consultation is 11 February 2016.