Brexit: The Changing Cost of Card Acceptance – CMSPI Insights
15th January 2021Contributor:
Alex Ellwood
Related Tags
Global payment technology firm, and card scheme Mastercard recently announced that the interchange fees paid by European merchants selling to UK cardholders online will increase more than fivefold from October 2021. Their announced changes will see interchange on debit card transactions rise from 0.2% to 1.15%, whilst credit transactions will see an increase from 0.3% to 1.5% of the transaction value.
This CMSPI Insights report aims to quantify the impact of Mastercard’s announced change, as well as the financial burden merchants will face if this signals the beginning of similar reclassifications across other transaction types.
View the Report Below
You Might Also Be Interested In These...
In December 2020, Australia’s three domestic payment schemes announced their intention to merge under the unified entity “NewCo”.
Read More >Our analysis of February data illustrates significant transaction failure with the estimated European failure rate on transactions at 31% compared to 33% in January 2021.
Read More >The COVID-19 pandemic has proved to be a huge catalyst for change. In this article, we identify and analyse three main areas in which we’ve seen change in merchant payments.
Read More >NatWest Group, which includes some of the UK’s largest issuing banks, have announced that they will be switching their debit cards from Visa to Mastercard.
Read More >