card surcharges

jonesMUFCforever

Stuart_W wrote: »

Debit cards - percentage based? Really? So a shop loses money if they offer a cashback service?

No they save - 1 the cost of banking the money 2 A debit card transaction cost pennies and reduces cash holdings.

reclusive46

agrinnall wrote: »

Of course there's no reason why the charge should ever be anything other than a flat fee, it doesn't cost VISA and Mastercard any more to process a payment for £1 than it does for one of £10,000. Although I suspect that if flat fee across the board came in it would probably end up being somewhat higher than the current level applied to debit cards in order for the various parties involved to keep their income levels up.

Percentage based fees were originally supposed to help with covering fraud costs.