Read the statement the way the regulator taught your provider to write it

Since the acquiring market review, providers have to hand you a summary box and run an online quotation tool. Both exist so you can compare, and both are underused.

Module

What we count

Summary boxes and online quotation tools apply to merchant custo…

Checked

2 Sep 2026

What we are counting

Summary boxes and online quotation tools apply to merchant customers with card turnover up to 50 million pounds.

Summary boxes and online quotation tools apply to merchant customers with card turnover up to 50 million pounds. That covers almost every shop, cafe and small chain in the country.

£50m

card turnover threshold below which summary boxes and quotation tools must be provided

PSR, policy statement PS22/2, October 2022 · checked 2 Sep 2026

How it works

Three things to hold on to.

The summary box carries tailored pricing, service levels and your own consumption data, not a generic brochure rate.
Before the remedies, around half of providers published no generic summary information at all, arguing that any headline rate would not be representative.
The quotation tool lets you price the same business at several providers without a sales call. Use it before the call, not after.

Task before opening time

Request your summary box, then run the same numbers through two providers' quotation tools. Bring all three to the renewal conversation.

ToolRun these numbers in the calculator Next lessonYour rate is three prices wearing one coat

Reference

Statement line decoder

Two providers, two names for the same charge. Match the line by what it does.

Line on the statement	Also called	What it actually is	What to check
Service charge	MSC, merchant service charge	Interchange, scheme fees and margin, added up	Whether it is ever split
Authorisation fee	Auth fee, transaction fee	A fixed amount per transaction, not per pound	Your transaction count, not your turnover
Terminal rental	Equipment rental	A separate agreement	The end date of the term
Minimum monthly service charge	MMSC, minimum billing	A top-up to a floor when trade is quiet	What January costs you
PCI fee	PCI DSS charge	The compliance programme	That it is not a non-compliance penalty
Chargeback fee	Dispute fee	Charged whether you win or lose	How many you had last year
Non-UK, commercial	Cross-border, corporate	Cards outside the consumer caps	Their share of your turnover

PSR, the IFR · PSR, PS22/2 · last read 4 Sep 2026. These figures are set by regulation, not by your provider, so this table changes only when the rules change.