Wednesday April 1, 2020

Retailers' to benefit from lower debit and credit card fees

The changes, which come into force from today, will save retailers €36 million a year

9th December, 2015
Retailers will pay lower charges for accepting debt and credit cards Pic: Pixabay

The interchange fee that banks charge retailers for accepting debit and credit cards will be capped from today, resulting in savings of more than €36 million a year for retailers, the Department of Finance said.

The move follows changes anounced in the budget, and which come into force from today, which set the maximum fee limit for domestic debit card transactions at a weighted average of 0.1 per cent of the transaction level, half the...

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