Mastercard to raise fees to EU firms for online sales to UK shoppers

Change from October could lead to higher prices for those paying with UK-issued cardsMastercard 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.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. Continue reading... https://www.theguardian.com/money/2021/jan/25/mastercard-to-raise-fees-to-eu-firms-by-500-percent-for-online-sales-to-uk-shoppers #credit_cards #debit_cards #brexit #online_shopping #european_union #banks_and_building_societies #money #consumer_affairs