Payment Accounts Comparison (PACS) tool - Data feed provision

Under the Financial Conduct Authority's Payment Accounts Directive (PAD), the Money and Pensions Service (MaPS) has a statutory duty to provide a web-based Payment Accounts Comparison (PACS) tool. The aim of PAD is to improve access to payment accounts, increasing competition and making fees and charges more transparent and comparable.

As such, MaPS had to create an operationally independent tool to compare a specific and limited list of fees and charges known as the Linked Services List. The PACS tool has been operated by MaPS since 2018.

Though the tool is developed and maintained by MaPS directly, an external provider is required to supply a data feed of the Payment Service Providers' (PSP) Payment account products, and to compare a specific and limited list of fees and charges known as the Linked Services list. The current contract for this service expires in 2021.

Therefore MaPS is issuing this Early Engagement notice to ascertain interest from the market prior to any potential tender process for this data provision service. Further details are included in the Additional Text and Links sections of this notice.

Additional information: Overview of Requirements: - MaPS need provision of data on products that account for a significant share of the market for payment accounts in order to power a comparison tool; - Each payment account product should have data on the fees and charges associated with each of the linked services; - This data must be provided in a format that the MaPS development team can utilize in the tool, and must be maintained and kept up to date - and must be queryable no less than on a daily basis; - Where possible, further data about the accounts' features and requirements should be made available, to facilitate a good user journey. Statutory Data Requirements: - Accurate and up-to-date data on fees, charges and availability of each of the Linked Services; - Significant part of market provision of this data for Payment Accounts available in the UK; - Basic product information including product name, supplier name & product type.

Final Linked Services list (further details on link below): 1. Maintaining the account 2.

Arranged overdraft 3. Unarranged overdraft 4.

Refusing a payment due to lack of funds 5. Allowing a payment despite lack of funds 6.

Direct debt 7. Standing order 8.

Sending money within the UK 9. Sending money outside the UK 10.

Receiving money from outside the UK 11. Cash withdrawal in pounds in the UK 12.

Cash withdrawal in foreign currency outside the UK 13. Debit card payment in pounds 14.

Debit card payment in a foreign currency 15. Cancelling a cheque