Consultation - Code of Conduct for Indirect Access Providers (Q4 2015 to Q1 2016)

Consultation - Code of Conduct for Indirect Access Providers (Q4 2015 to Q1 2016)


 

Improving access to payment systems is a key priority for the industry. The Payment Systems Regulator (PSR) and the Code Administrator (a role now fulfilled by Pay.UK) have undertaken independent research projects into access which highlighted key industry concerns around both the operational and technical aspects of existing access arrangements. The subject has since received significant focus which has led to further industry research and Consultation by the PSR, resulting in its publication of a range of recommendations and regulatory directions aimed at improving access to UK payment systems.

The Code of Conduct for Indirect Access Providers is an industry-owned voluntary Code was developed in consultation with the PSR and is now overseen by Pay.UK. The Code was created as a means to address the PSR’s key areas of concern around the operation of arrangements for indirect access between Payment Service Providers (PSPs) and Indirect Access Providers (IAPs).

To address this concern, an Interim Code was published in September 2015, following initial industry Consultation and review by the PSR. The Code Administrator (a role now fulfilled by Pay.UK), subsequently agreed to undertake further formal consultation on behalf of industry to elicit broader views on the potential effectiveness of the Code and its scope.

The consultation window closed in 2016 with 16 formal responses received as well as additional stakeholder feedback. The combined redacted consultation responses can be found here.

The feedback was collated by the Code Administrator and shared with the four main IAPs to help consider how the Code could be further developed to support its aims of increasing confidence in the supply of Indirect Access and improving outcomes for Indirect PSPs.

Responses were also shared with the PSR so it could consider industry views on the Code alongside its wider market review into indirect access. Their final report was published in July 2016.

An enhanced version of the Code was published in September 2016 and reflects the main themes of the consultation feedback. Specifically - to provide greater clarity - revisions have been made to the introduction, terminology used and on the scope and purpose of the Code. 

The current version of the Code was introduced in March 2018.

If you require any further information on the code or consultation please email Code_administration@wearepay.uk.