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"We“ don‘t. In the EU, the base fee is capped at 0.2% (debit) and 0.3% (credit) which sounds reasonable for what they provide.
by kall 5y ago
"We“ don‘t. In the EU, the base fee is capped at 0.2% (debit) and 0.3% (credit) which sounds reasonable for what they provide.
- toomuchtodo 5y agoWhich doesn’t apply in the UK post Brexit, hence this situation. The UK could cram down interchange fees (such that the EU had) with their own regulation if they don’t want merchants banning rent seeking payment networks.
- tim333 5y agoFollowing Brexit they'll probably be able to jack it up by offering consulting roles to Tory politicians.
- LatteLazy 5y agoThe whole point of brexit was to get rid of the sort of fair, efficient, reasonable legislation the EU pushes. Brits want to be fucked over by big US mega corps and are tired of the EU refusing them that right. As a Brit I wish it wasn't true but here we are.
- ArgyleSound 5y agoIt still applies in the UK, just not between UK-EU transactions because those are cross border now
- alecco 5y agoDoesn't translate to real life: "1.45% + € 0.05 per transaction" https://www.mypos.eu/en/pricing-and-fees https://www.mypos.eu/en/pricing-and-fees
- kall 5y agoYeah sure, but that‘s all added on by other parties. As far as I know, the layers above VISA/MC are diverse enough (not a duopoly). If that‘s true you could rely on the market to drive down fees if it‘s profitable.
- scrollaway 5y agoThat would be the extra price set by that particular point of sale / middleware. Maybe look at Adyen instead.