credit card news and archive

Government to ban “rip-off” card fees

The Government has announced that from January 2018 “unfair fees” applied to the use of credit and debit card payments will be banned. Currently, retailers and brands can charge consumers up to an extra 20 percent ‘surcharge’ for purchases made with a credit or debit card or for other services such as Paypal, however, the Government has stated...

Fashion

Retailers to see cap on credit card fees

British fashion retailers are to see an ease of card processing fees, as a new ruling will cap "unjustifiably high fees" for processing customer purchases. Whether buying online or in brick & mortar stores, the cap could save the industry as much as 362 million pounds a year. Retailers pay a fee for each customer transaction Currently retailers...