Join CMSPI’s campaign to end excessive card fees in Europe25th January 2019
Merchants across Europe suffered another huge setback this year when Visa announced it would hike the fees it levies for processing debit and credit card transactions. Some retail sectors incurred fee increases of over 100% – the biggest increase seen for decades.
With further fee increases planned for 2019, merchants continue to be offered no protection from fee hikes by regulatory bodies or legislation. This needs to change.
As merchant champions, CMSPI has launched a campaign to end excessive card fees and has called upon retailers to take a stand. We currently have support from merchants across Europe totalling over £200bn in revenue, join your peers in supporting CMSPI’s campaign to end excessive fees in Europe.
We are concerned that merchants…
- have not received the full benefit of interchange regulation
- have been subjected to relentless scheme fee increases since interchange was regulated in 2015 – with some sectors facing 100% increases this year
- do not receive adequate protection from regulators regarding transaction fees
- suffer from a lack of competition in the payments supply chain, with Visa and Mastercard effectively operating parallel monopolies that do not compete
CMSPI will present the results of our study into the impact of scheme fee increases post-interchange regulation to the European Commission with an accompanying letter detailing our concerns, potential remedies and supporters. Take this opportunity to add your voice – if excessive fees continue to go unchallenged by the merchant community, the European Commission will infer that there is no issue to address.
Our journey so far…
Join the growing number of merchants calling for an end to the status quo.
“We support the petition against excessive card fees”