Source · Select Committees · Treasury Committee
Recommendation 114
114
Deferred
Businesses face unclear payment costs due to lack of competition in processing market
Conclusion
We are disappointed that there is not more clarity on the costs of different payment types, and that businesses are continuing to bear the costs of a lack of competition in the payments processing market. (Conclusion)
Government response summary AI-generated
The government's response focuses on the operational resilience of the UK's financial system, detailing how it works with regulators and industry to improve resilience against threats and ensure financial institutions are secure, rather than addressing the committee's disappointment regarding payment costs and competition.
Government Response
The government responded to this report on 12 July 2025. No passage in that response could be matched to this conclusion. Read the response document ↗