Card Payment Fees Raise Cost Hike Fears

Card payment

Some agency members have been told that charges for the processing of debit cards, now more usually a small fixed fee per transaction, are to change to a percentage basis.

The change could result in a big increase in the amounts paid. 

The issue arises at a time when a new regulatory regime for the payment systems industry is on the near horizon. In April this year the newly formed Payment Systems Regulator will become a fully operational organisation. A subsidiary of the Financial Conduct Authority, the new regulator has lofty ambitions:

  • To promote effective competition
  • To promote the development of innovation
  • To ensure that payment systems are operated and developed in a way that considers and promotes the interests of service users.

We don’t yet know how the regulator will respond to complaints that the payment processors are abusing their near-monopoly positions.

EASCO – English Association Self Catering Operators