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FCA Handbook
FEES
FEES 9
FEES 9 Annex 1 PSR fees for the period 1 April 201...

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

R15/04/2016

Table A3 below shows the PSR fee applicable to the direct payment system providers, acquirers and card issuers 2 of each regulated payment system.

Table A

3Regulated 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 ‘000)
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 receiving of transferred funds.	[To follow]
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.	[To follow]
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 receiving of transferred funds.	[To follow]
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 receiving of transferred funds.	[To follow]
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.	[To follow]
MasterCard	£1.96 million	The PSR fee is calculated for each individual acquirer and card issuer (or the operator of that regulated card payment system acting as such an acquirer or card issuer) proportionally to the relevant transaction volumes under the regulated card payment system in question during the relevant time period. The calculation formula is: payment system allocation multiplied by acquirer or card issuer’s (or those of the operator of that regulated card payment system acting as such an acquirer or card issuer) relevant transaction volumes divided by payment system denominator.	1 January to 31 December 2015	All transactions by acquirers operating in the United Kingdom and 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.	[To follow] (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 and 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.	[To follow] (prior to any adjustment resulting from the application of FEES 9.2.1AR)
NICC	£60,000	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