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The EU is introducing a cap on credit card interchange fees of 0.3%, and 0.2% for debit cards. This is expected to lead to much lower fees for merchants that ac
by Reason077 11y ago
The EU is introducing a cap on credit card interchange fees of 0.3%, and 0.2% for debit cards. This is expected to lead to much lower fees for merchants that accept credit cards (and ultimately, consumers).
The new regulations apply from 09 December 2015:
https://www.gov.uk/government/news/credit-and-debit-card-fees-to-be-capped https://www.gov.uk/government/news/credit-and-debit-card-fee...
- base 11y agoYou can ask your payment processor and they will say their prices will stay the same. Check this response from paypal: PayPal told us that the “European Union’s regulation of Multilateral Interchange Fees (MIF) does not apply to PayPal as we are not an inter-bank card scheme and the fees PayPal charges businesses are not interchange fees”. http://tamebay.com/2015/03/new-eu-caps-on-credit-and-debit-card-fees.html http://tamebay.com/2015/03/new-eu-caps-on-credit-and-debit-c...
- pbhjpbhj 11y agoWhat's with the EU and bringing in new financial regulations for Merchants around Christmas time?? Last year it was VATMOSS on 1 January (when lots of people are on leave and lots of purchases are made due to stores running sales, especially online). ONS retail sales per week in the UK are £9B in December vs. £7B in April or June (last 12 months figures, http://www.ons.gov.uk/ons/rel/rsi/retail-sales/index.html http://www.ons.gov.uk/ons/rel/rsi/retail-sales/index.html).