FEES 9 Annex 1 PSR fees for the period 1 April to 31 March for each fee year73636

R

The table below shows the methodology used by the FCA to determine the PSR fee applicable to PSR fee payers for each fee year.7

132

7Regulated payment system or IFR card payment system

(column 1)

Relevant transactions

(column 2)

Relevant time period

(column 3)

Volume block (“Vo”)

(column 4)

Value block (“Va”)

(column 5)

Calculation methodology for PSR fee payable

(column 6)

Bacs

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

The full calendar year (1 January to 31 December) before the start of the relevant fee year.

vo formula

va formula

Fees allocated to a PSR fee payer

=

its fees under the volume block (Vo) + its fees under the value block (Va)

C&C

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

CHAPS

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

FPS

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.

LINK

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.

Mastercard

All transactions by acquirers operating in the United Kingdom and transactions by card issuers operating in the United Kingdom 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.

NICC

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

Visa

All transactions by acquirers operating in the United Kingdom and transactions by card issuers operating in the United Kingdom 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.

AmEx

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.

Diners Club

JCB

UPI

Notes:

* This is the PSR’s annual funding requirement (AFR). The PSR will publish the PSR AFR for each fee year annually.

**The PSR will publish this figure annually. The figure represents the sum of all PSR fee payers’ relevant transaction volumes across all systems in the relevant time period.

***The PSR will publish this figure annually. This figure represents the sum of all PSR fee payers’ relevant transaction values across all systems in the relevant time period.

6464