The Payment Systems Regulator is consulting on a targeted regulatory financial reporting remedy that would require Mastercard and Visa to provide data on their UK financial performance, so it can monitor profitability over time and assess whether scheme and processing fees are working well for UK businesses. The proposal follows the PSR’s review of card scheme and processing fees, which found evidence consistent with the schemes earning profit margins higher than would be expected in competitive markets. The consultation builds on the PSR’s earlier market review, which found that Mastercard and Visa do not face effective competition, that scheme and processing fees have risen, and that businesses lack sufficient clarity on the fees they pay to accept card payments. Under the proposed reporting requirement, the schemes would have to submit a profit and loss account for their UK card operations with relevant levels of disaggregation, alongside contextual information to help the PSR understand the performance of their UK card businesses and support ongoing supervision. The PSR said it will publish its final decision and directions on the Information, transparency and complexity (ITC) and Pricing Governance remedies in the summer, following earlier consultation on those measures.
Payment Systems Regulator2026-05-21
Payment Systems Regulator consults on requiring Mastercard and Visa to report UK financial performance
The Payment Systems Regulator is consulting on a targeted regulatory financial reporting remedy requiring Mastercard and Visa to report disaggregated profit and loss data on their UK card operations, including contextual information, to support supervision of scheme and processing fees. The proposal follows the PSR’s market review, which found rising fees, limited competition and higher-than-expected profit margins, and sits alongside forthcoming final decisions on information, transparency and complexity, and pricing governance remedies.