Merchants across Europe stand to receive €4.2 billion of annual savings following the introduction of interchange fee regulation (IFR) caps, which have seen fees being capped at 0.2% of the transaction value for debit cards and 0.3% for credit cards. This equates to an average saving of nearly 50% on previous fees. Yet due to a lack of transparency around card charges and pricing structures, many merchants are likely to see little or no benefit from this welcome regulation. In GTNews, Alistair Combes, Director of Knowledge at CMS Payments Intelligence, discusses what merchants need to know and what they can do to ensure they don’t miss out.
To read the full article, please click here