Credit card charge cap will save businesses a billion

New EU rules on credit and debit payment charges could save UK businesses more than £1bn a year according to payments consultant, CMS Payments Intelligence.
The new rules act against added fees to retailers and surcharges on consumers for use of Visa and Mastercard cards. Caps on interchange rates of 0.2% on debit cards and 0.3% on credit cards will be introduced, first in EU international and then domestic transactions over a transition period of 22 months.