IF: Difference between revisions
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(Add quote - source - ACT blog - https://www.treasurers.org/hub/blog/payments_landscape_october_2023) |
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:UK merchants who are selling online to EEA customers and are not able to relocate may find themselves at a competitive disadvantage compared with EEA competitors selling online to the same EEA customers." | :UK merchants who are selling online to EEA customers and are not able to relocate may find themselves at a competitive disadvantage compared with EEA competitors selling online to the same EEA customers." | ||
''Update on the Payments landscape – October 2023 - ACT Blog - Naresh Aggarwal.'' | :''Update on the Payments landscape – October 2023 - ACT Blog - Naresh Aggarwal.'' | ||
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* [[European Economic Area]] (EEA) | * [[European Economic Area]] (EEA) | ||
* [[Interchange fee]] | * [[Interchange fee]] | ||
* [[Mastercard]] | * [[Mastercard]] | ||
* [[Visa]] | * [[Visa]] | ||
[[Category:Financial_products_and_markets]] | [[Category:Financial_products_and_markets]] | ||
Latest revision as of 23:42, 29 October 2023
Payments - cards - charges.
Interchange fee.
Interchange fees relate to credit cards, debit cards, and other cards.
- UK to EEA online IFs rise - leading to competitive disadvantages
- "The Payments Systems Regulator (PSR) published a Working Paper – Market review of UK-EEA cross-border interchange fees. Amongst its observations was that:
- Mastercard and Visa have increased IFs for card-not-present (CNP) UK-EEA transactions using consumer debit and credit cards from 0.2% and 0.3% to 1.15% and 1.15% respectively and fees paid by acquirers increased by approximately £75 million to £100 million in the first half of 2022.
- UK merchants who are selling online to EEA customers and are not able to relocate may find themselves at a competitive disadvantage compared with EEA competitors selling online to the same EEA customers."
- Update on the Payments landscape – October 2023 - ACT Blog - Naresh Aggarwal.
