Mastercard has announced that it will raise interchange fees by about five times the current limit when a UK card holder uses a debit or credit card to buy from... more
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In a damaging set back, a British appeals court ruled in favour of retailers including some of the UK’s biggest retailers, in massive a blow to the card networks which could now... more
The post Mastercard and Visa hit with setback in UK interchange fees law suit appeared first on Payments Cards & Mobile.
An independent payments consultancy, CMSPI, has initiated a complaint with the European Commission over changes Visa is making to its fees, claiming the card scheme’s actions could cost small businesses in Europe more than $2 billion a year. This month, Visa restructured the fees it levies for processing credit and debit card transactions, adding a [...]
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A group of Canadian retailers and other businesses are pushing for lower credit-card fees from major payment networks amid a long standing battle over what they claim are inflated Canadian rates. The two largest credit-card companies, Visa Canada and MasterCard Canada, charge businesses an average of 1.5% of their transactions for accepting the plastic, with [...]
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European retail organisations have called on authorities to expand the scope of interchange fee controls to tackle other “stupendous” charges imposed by card schemes, as new rules banning merchants from recovering costs from consumers enter into force. The European Commission is set to review the effectiveness of the Interchange Fees Regulation (IFR) over the next [...]
The post Interchange fee rules ‘Not Fit For Purpose’ ahead of EU review appeared first on Payments Cards & Mobile.