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UK debit card interchange is currently based on a fixed rate per transaction, 8p for chip and pin transactions. The impact on acquirer pricingĀ and their reaction is dependent on a number of factors – the range of transaction values undertaken by a merchant, your card mix, the timing and extent of the credit interchange and MasterCard interchange changes (yet to be announced) and most importantly competitor strategy. Scenario 2 – No change, acquirers take all benefit from low ATV interchange reductions and bear the cost of higher ATV interchange increases. Lower ATV merchants would not be re-priced automatically unless they complain and look to switch (retention policy). Re-pricing for higher ATV merchants, where the acquirer only suffers marginal increased interchange, would be deferred until credit card interchange decreases take effect (Scenario 2) – the acquirer would then not pass on all of the credit card interchange reduction to cushion the higher debit interchange costs. Automatic re-pricing for higher ATV merchants where the acquirer suffers a material increase in interchange costs. It will come as no surprise to Cardswitcher followers that we advocate regularly checking your current card processing fees against the market and where cost saving arise then switch.
Some great points Stephen, but I would also point out that the EU regulation also stipulates that schemes should bot take this as an opportunity to increase interchange. Yes Andrew, lower interchange is the intent but the consequence of the UK Visa debit changes in isolation will be higher interchange for transactions greater than ?35. Hi there, I havpe been getting different quotation around and I found out that payment sense is still offering a flat fees rate for signing up a contract for 5 years. As for terminal hire, while some acquirers will, at times, offer 12 month hire contracts, it is not their preference as they too would prefer a longer tie in, and their longer tie-ins also carry termination costs equivalent to the remaining rental over the minimum contract term.
Can you please clarify that the charge for any one debit card transaction is being capped at 50p? I’m currently in a 5 year contract, does this mean I can use this as a reason to get out of this contract and get a better deal elsewhere? I recently received a letter from my estate agents saying that the fee for paying my rent via my debit card has increased from 50p per transaction, to ?2.50 due to a change in the European Commissions regulation.
It’s true that as a consequence of new EU legislation to cap fees, Visa Europe increased debit fees and these increases have been passed onto merchants (like your estate agent) by the banks and acquirers. Keeran – you ask a question we are hearing from a lot of merchants who are not entirely sure what the EU cap means for them.
We bank with RBS, when we asked for a Merchant Account they told us to talk to Worldpay (who they own).

WorldPay is no longer owned by RBS – it was sold in 2010 and is now entirely independent of RBS. So much for the myth that the interfering EU will help consumers , so far MasterCard have not altered their charging , despite all the offers to cardholders being removed starting some while back . What I find really annoying here though is that everyone has been pushed down the debit card route as a way of replacing cheques , cheques were not charged on a percentage basis but a fixed cost per item.
To be fair, Visa and MasterCard have reduced their pricing as they were legally forced to by the EU. Thanks, I appreciate the differences , however , according to Elavon , Visa have come along with their new charging proposals and the result is percentage charge for debit cards and abolition of exception charges for premium cards along with the excuse that anything not secure as defined by them will not attract the cheapest rate IE anything outside chip and pin and the secured by Visa secondary screen coding for mail order transcation , will attract higher rates . They went on to advise that Mastercard had not decided what their charging response was to be so as yet Elavon have not passed on any lower rates for Mastercard .
You are right , I am thoroughly dismayed with Elavon but have been since switching , its clear what their business model is , find anything that we can attach a flimsy excuse to for charging extra and they do , Ok I comply with all their requirements but you can be sure there are thousands that do not and get penalised for it , of course there are some such as authorisation call charging that you can not avoid . However its really the percentage debit card fiddle that really gets me going that is out and out robbery , these are electronic cheques and should be charged cost per item not percentage , this is where the EU have been really asleep and what I can not fathom is why there has not been more of an uproar about it , maybe you have a thought or two ?
Sorry forgot to mention the other diddle of charging for the authorisation call plus the other fiddles Elavon try on of charging extra if the terminal isn’t insured on your policy , charging extra if your are not compliant , charging a 100 quid a year for some other spurious compliance , as a small business you can not challenge all this , and they are making out like bandits . Since launch we have been trusted by thousands of SME merchants to reduce their costs through the quotes we have provided. The world is full of amazing events and exciting adventures that you won't want to miss out on. All statements made in relation to the ANZ Prepaid Card are made by ANZ as the issuer of the product and not by Lonely Planet. Buy your ticket as far in advance as possible - buying plane fares at the last minute can cost you up to twice as much as if you'd booked a few months before. Many cities offer discount cards that include admission to multiple sights and sometimes even public transport. Travel insurance is mostly health insurance, which is why the costs increase hugely when you get to retirement age. Allocate a daily budget by setting aside some money for use each day, or else keep a running tab in a notebook. Acquirers add a mark-up then typically charge MSC of 12p-14p per transaction to SME merchants.

Although this is an industry wide change, not all merchant acquirers will adopt the same re-pricing strategy and there will be plenty of differing approaches so shop around and find the best deals. In many countries (Scandinavia, The Netherlands) interchange is low or zero for debit cards, and the European Parliament is very keen that this is maintained. PaymentSense resell First Data’s merchant accounts so they will be waiting for First Data to decide what price changes will happen. Percentage debit card fees have actually resulted in our overall payment per month going up , so there will be no room to adjust our prices to consumers , mail order that is conveniently not classed as chip and pin type secure is being penalised further. Cheque guarantee cards phased out because of debit cards and now we are having to pay percentage per transaction , we have been mugged . It's especially important to have if visiting the US, where medical costs, especially for emergencies, can be exorbitant.
For longer trips, sign up for your bank's online access so you can check your balance regularly. Debit card costs (unlike credit card costs) are unchanged irrespective of the value of the transaction – merchants pay the same cost for both a ?5 debit transaction and a ?200 debit transaction. Customer re-pricing is a time of great opportunity and risk for merchant acquirers – how much extra profit can they squeeze out without unnecessarily losing customers. But nevertheless, merchants should stay vigilant for any additional fees that might emerge! As usual nothing is simple as Netpay want ?4.99 per month as a PCI fee where BC is included I think and BCs min transaction fee is ?20 per month with ?10 per month terminal rental and Netpay is ?15 pm min transaction fee but ?11 per month rental.
The trouble with these bureaucrats is that they have no commercial nous and the card companies run rings round them. And these new interchange rates are so wide-ranging they offer an unprecedented level of opportunity, risk and uncertainty. To what extent you benefit from the cap depends on WorldPay’s commercial decision as to how much of the benefit they pass onto customers and how much they keep themselves. Your quoted rates arnt that bad – not the cheapest available in the market but not materially above market average.

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