FEES 9 Annex 1 PSR fees for the period 1 April 20163 to 31 March 20173

R

Table A3 below shows the PSR fee applicable to the direct payment system providers, acquirers and card issuers2 of each regulated payment system.

Table A

1

4Regulated payment system

(column 1)

Payment system allocation for 2016/17 (£)

(column 2)

Calculation methodology for PSR fee payable by direct payment service providers, acquirers and card issuers of regulated payment systems

(column 3)

Relevant time period

(column 4)

Relevant transaction volumes or shareholdings, as applicable

(column 5)

Payment system denominator

(column 6)

(rounded to the nearest 500)

Bacs

£1.96 million

The PSR fee is calculated for each individual direct payment service provider proportionally to the relevant transaction volumes processed, issued or acquired on behalf of that direct payment service provider through the regulated payment system in question during the relevant time period.

The calculation formula is: payment system allocation multiplied by direct payment service provider’s relevant transaction volumes divided by payment system denominator.

1 January to 31 December 2015

All transactions processed through the Bacs regulated payment system. Transactions include both the initiation of the transfer of funds, and the receipt of transferred funds.

12,159,494,000

C&C

£1.90 million

1 July to 31 December 2015

All transactions including ‘in clearing’ and ‘out clearing’ transactions for GBP, USD and EUR processed through the C&C regulated payment system.

420,930,500

CHAPS

£1.96 million

1 January to 31 December 2015

All MT103 and MT202 transactions processed through the CHAPS regulated payment system. Transactions include both the initiation of the transfer of funds, and the receipt of transferred funds.

74,947,500

FPS

£1.96 million

1 January to 31 December 2015

All transactions processed through the FPS regulated payment system. Transactions include both the initiation of the transfer of funds, and the receipt of transferred funds.

2,494,069,000

LINK

£1.96 million

1 January to 31 December 2015

All transactions issued and acquired under the LINK regulated payment system, including GBP cash withdrawals, foreign currency dispenses, balance enquiries, PIN management, charity donations, non-cash transactions and mobile payment transactions, but excluding ‘on us’ transactions. Both issuing and acquiring transactions are taken into account.

6,324,217,500

MasterCard

£1.96 million

General calculation methodology:

The PSR fee is calculated for each individual acquirer and card issuer proportionally to the relevant transaction volumes under the card payment system in question during the relevant time period.

The calculation formula is: payment system allocation multiplied by acquirer or card issuer’s relevant transaction volumes divided by payment system denominator.

Exception pursuant to FEES 9.2.1ER:

Where the operator of a card payment system is acting as an acquirer, as a card issuer or as both, the PSR fee is equal to the payment system allocation for that card payment system.

1 January to 31 December 2015

All transactions by acquirers operating in the United Kingdom and5 all transactions by card issuers operating in the United Kingdom5 under the MasterCard regulated payment system, including point of sale transactions, merchant sales volumes, and cash purchase transactions on cards, but excluding cash-only withdrawals. All MasterCard-branded transactions are included irrespective of the processing entity (MasterCard itself, a third party processing entity or ‘on us’ transactions). Both issuing and acquiring transactions are taken into account.

5,008,627,000

(prior to any adjustment resulting from the application of FEES 9.2.1AR)

Visa

£1.96 million

1 January to 31 December 2015

All transactions by acquirers operating in the United Kingdom and5 all transactions by card issuers operating in the United Kingdom5 under the Visa regulated payment system, including point of sale transactions, merchant sales volumes, and cash purchase transactions on cards, but excluding cash-only withdrawals. All Visa-branded transactions are included irrespective of the processing entity (Visa itself, a third party processing entity or ‘on us’ transactions). Both issuing and acquiring transactions are taken into account.

24,095,219,000

(prior to any adjustment resulting from the application of FEES 9.2.1AR)

NICC

£55,400

The PSR fee is calculated for each direct payment service provider proportionally to its shareholding in the operator of the NICC regulated payment system during the relevant time period.

The calculation formula is: payment system allocation multiplied by direct payment service provider’s shareholding in the capital of the Belfast Bankers’ Clearing Company Ltd (expressed as a percentage).

31 December 2015

All shareholdings held in Belfast Bankers’ Clearing Company Ltd, the operator of the NICC regulated payment system.

Not applicable

4Table B

Relevant IFR transaction volumes

(column 1)

Relevant time period

(column 2)

Tier

(column 3)

Payment system denominator

(rounded to the nearest ‘000)

(column 4)

Allocation methodology for the payment system allocation for 2016/17 for each IFR card payment system

(column 5)

All IFR transactions by acquirers operating in the United Kingdom and IFR transactions by card issuers operating in the United Kingdom (or those by the operator of that IFR card payment system acting as such an acquirer or card issuer) under that IFR card payment system, including point of sale transactions, merchant sales volumes, and cash purchase transactions on cards, but excluding cash-only withdrawals.

All transactions under the brand of that IFR card payment system are included irrespective of the processing entity (the operator or IFR card payment system itself, a third party processing entity or ‘on us’ transactions).

Both issuing and acquiring transactions are taken into account for each IFR card payment system.

1 January to 31 December 2015

1

Total relevant IFR transaction volumes for the IFR card payment system in question of <100,000 in the relevant time period

(application of FEES 9.2.1DR)

Exemption from PSR fees

2

Total relevant IFR transaction volumes for the IFR card payment system in question of between 100,000 and 10,000,000 in the relevant time period

(prior to any adjustment resulting from the application of FEES 9.2.1CR)

Payment system allocation to each relevant IFR card payment system amounting to 0.5% of the total 2016/17 funding requirement in relation to the PSR’s IFR functions and activities

3

Total IFR transaction volumes for the IFR card payment system in question of greater than 10,000,000 in the relevant time period

(prior to any adjustment resulting from the application of FEES 9.2.1CR)

Equal payment system allocation to each relevant IFR card payment system for the remaining total 2016/17 funding requirement in relation to the PSR’s IFR functions and activities

4Table C

IFR card payment system

(column 1)

Payment system allocation for 2016/17

(£) (column 2)

Calculation methodology for PSR fee payable by acquirers, card issuers and operators of IFR card payment systems

(column 3)

Relevant time period

(column 4)

Relevant IFR transaction volumes

(column 5)

Payment system denominator

(column 6)

(rounded to the nearest ‘000)

JCB

Nil

General calculation methodology:

The PSR fee is calculated for each individual acquirer and card issuer proportionally to the relevant transaction volumes under the IFR card payment system in question during the relevant time period.

The calculation formula is: payment system allocation multiplied by acquirer or card issuer’s relevant transaction volumes divided by payment system denominator.

The figure in column 6 of Table C is the payment system denominator set out in column 6 of Table A, and it must be adjusted for the purposes of Table C by the operator to reflect the total relevant transaction volumes for that IFR card payment system, including IFR transactions by acquirers operating in the United Kingdom plus IFR transactions by card issuers operating in the United Kingdom, as set out in column 5 of Table C.

Exception pursuant to FEES 9.2.1DR or FEES 9.2.1ER:

Where the operator of an IFR card payment system is acting as an acquirer, as a card issuer or as both, the PSR fee is equal to the payment system allocation for that IFR card payment system.

1 January to 31 December 2015

All IFR transactions by acquirers operating in the United Kingdom and IFR transactions by card issuers operating in the United Kingdom (or by the operator of that IFR card payment system acting as such an acquirer or card issuer) under that IFR card payment system, including point of sale transactions, merchant sales volumes, and cash purchase transactions on cards, but excluding cash-only withdrawals.

All transactions under the brand of that IFR card payment system are included irrespective of the processing entity (the operator or the IFR card payment system itself, a third party processing entity or ‘on us’ transactions).

Both issuing and acquiring transactions are taken into account for each IFR card payment system.

Not applicable as a result of the application of FEES 9.2.1DR

UPI

Nil

Not applicable as a result of the application of FEES 9.2.1DR

Diners Club

£7,500

Not applicable as a result of the application of FEES 9.2.1GG

AmEx

£497,500

Not applicable as a result of the application of FEES 9.2.1GG

MasterCard

£497,500

5,008,627,000

(prior to any adjustment resulting from the application of FEES 9.2.1CR; and

prior to any adjustments by the operator as set out in column 3 of Table C to reflect the relevant transaction volumes for that IFR card payment system)

Visa

£497,500

24,095,219,000

(prior to any adjustment resulting from the application of FEES 9.2.1CR; and

prior to any adjustments by the operator as set out in column 3 of Table C to reflect the relevant transaction volumes for that IFR card payment system)