New UK Merchant Services Pricing
- VISA Debit charges will change from a fixed pence rate to a percentage rate plus a fixed pence rate. Up until now the debit card transaction attracted the cheapest rate for a merchant. With a percentage applied the debit card cost will be similar to a credit card. It is not yet known if there will be a cap on the amount for a high value transaction. At least one bank acquirer has decided not to cap the charge. This change will be introduced by March this year for all merchants.
- MasterCard have announced that they will remove the exception differential between their personal credit cards and their premium business cards. This means that all their credit cards will be charged at the lower personal card rate. This change will apply to all merchants and will be introduced by the end of April.
There are other changes to the pricing structure planned to be introduction by the end of the year. We will keep you abreast of these and all other industry changes. Please contact us on 01753 4800 38 or visit our website on www.britpay.co.uk Ken Hansen