That’s horrendous. For 1 year we were allowed to pass on the exact debit charge until certain firms started adding commission & they made it all illegal.MCB wrote:Oh quite agree, I work in travel that has seen debit cards go from 40p to 2%, we've been smashed... we welcome people paying with AMEX at 1.7%.... our average transaction is over £2000PBBee wrote: On the other hand industries like the one I’m in have been whacked by the change, going from paying 50p per transaction to 0.4% is a huge increase when average card transactions are £700.
AMEX is widely accepted nowadays but the rates they charge retailers have always been horrendous & all it does is inflate prices.
Surprised with those volumes a merchant acquirer wouldn’t offer better terms. The Visas of this world will be enjoying the swifter move away from cash than originally expected that’s for sure.