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Mastercard to raise fees by at least 400% for EU firms selling to UK customers

  • By Dan
  • January 26, 2021January 26, 2021

Change from October could lead to higher prices for those paying with UK-issued cards

Mastercard is to increase the fees EU firms face to take payments from online shoppers from the UK by at least 400%, in a move that could mean higher prices for consumers.

Brexit on Amazon

When a credit or debit card is used, a percentage of the purchase price is paid by the retailer to the bank that issued it as an interchange fee, which is set by a payments firm.

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Banks and building societies, Brexit, Consumer affairs, Credit cards, Debit cards, European Union, Money, Online shopping
European Union,Mastercard,United Kingdom

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