The Payment Systems Regulator (PSR) has launched a consultation on the interim report for its market review into the supply of card acquiring services.
This market review was launched following concerns the acquirer market may not be working well for retailers, potentially causing consumer detriment through higher costs. The review is examining competition in the acquiring market and costs for retailers. The interim report proposes requiring contracts with acquirers to have an end date, banning auto-rollover POS terminal contracts and making it easier for retailers to research and compare quotes.
Consultation details:
ACS' submission:
