New caps proposed on card processing fees

The EU has recommended new caps on the interchange fees that banks charge to card providers, which may reduce charges for retailers processing credit and debit cards. Under the recommended caps, the interchange fees charged to card providers such as Visa and MasterCard would be restricted to 0.3% on credit cards and 0.2% on debit cards. If approved by the European Parliament, the new fees could be in place by autumn 2015. The Association of Convenience Stores (ACS)  is very happy with  the plans, with James Lowman Chief Executive of the ACS, commenting: “We are pleased with this proposal which takes us one step closer to making the card charges convenience retailers face much more manageable”.
To read more about the proposal, go to:

ACS Welcomes EU’s Fairer Card Fee Proposals

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