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card charge ruling – savings for British retailers?

28 May 2012

Following a European court ruling against MasterCard on 24 May 2012 the Government is being urged to cut hidden credit and debit card costs.

EU judges confirmed a European Commission’s claim that the way MasterCard’s “multilateral interchange fees” system operates is a breach of EU competition rules.

Although the decision only applies to cross border credit and debit payments in Europe, the principles set are much broader. It will now open the door to greater regulation of hidden interchange fees applied domestically.

So what does this mean for British retailers? The regulation of these hidden costs could lead to savings of hundreds of millions of pounds per year for retailers.
This is positive news for retailers who have been faced with high and complex credit and debit card fees for a very long time.

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