Shopkeepers call for action to slash high credit card fees
Monday 07 January 2013
Dutch shopkeepers are calling for government intervention over the high costs they have to pay to process credit card transactions, RTL news said on Monday.
The cost to the shop of a credit card transaction can be as much as 40% higher than for a normal debit card, sector organisation Detailhandel Nederland says.
Credit card companies get a percentage of sale price of the goods and services, but pin card transactions have a fixed fee.
‘This means the shop and consumer are paying towards something which has nothing to do with the cost of the transaction,’ the organisation said. Shopkeepers also want credit card firms to be more transparent about how their costs are calculated.
Campaigns against high charges have been a success in the US and in Portugal, Detailhandel Nederland told the broadcaster.