Following its initial findings that merchants with up to £50m in card transactions are over-paying for acquiring services, the Payment Systems Regulator (PSR) has taken the unusual step of setting up a "confidentiality ring" to allow potentially affected parties to access the survey results.
The confidential material comprises:
- Raw data file containing the responsesof 1,037 small and medium sized merchants to questions in the merchant questionnaire;
- Raw data file key needed to interpret the variable names and values from the raw data file; and
- Data tables file providing weighted tabulations of the responses.
The confidential material can only be used:
"in order to prepare submissions and make representations to the PSR in connection with the Market Review and, accordingly, to facilitate the exercise by the PSR of its statutory functions... and (if relevant) to prepare and conduct an appeal against any decision of the PSR in connection with the Market Review, including an appeal in which such parties are, or are intending to apply to be, an intervener."
The deadline for stakeholders to submit responses to the PSR’s consultation on the Interim Report is currently 5pm on 8 December 2020, but this will be extended to allow for access to the Confidentiality Ring, depending on when it opens and how long it lasts. A further announcement on that will be made in due course. Meanwhile, requests to join the Confidentiality Ring must be submitted to the Market Review team at cards@psr.org.uk by no later than 5pm on 4 December 2020...
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