4 October 2012
Consumers may see an end to excessive surcharges for paying for goods and services by debit or credit card under Government plans. Companies will no longer be able to make a profit by charging the consumer for credit or debit card use above the amount it costs them to process the payment for the item. This measure will be put into place to bring part of the European Union’s Consumer Rights Directive into force, and will ensure that consumers are aware of the costs they are committing to. It also means that those traders who are treating consumers fairly with charges are not at a disadvantage to those who use less transparent practices to lure consumers to offers.
Consumer group Which? are campaigning for excessive credit and debit card surcharges to be banished produced some key points from a poll they carried out: 84 per cent of people believe consumers should not be charged extra for paying by credit or debit card and 77 per cent think the surcharges are unfair.
SmartDebit have over 14 years’ experience in the payment processing industry. A spokesman from the Direct Debit Bureau commented on the new proposals “The Minister’s announcement will be welcomed by consumers, as they will be able to understand the total amount they will be paying for a product. This will welcome fairer comparisons and cost-efficient purchasing decisions, leading to a more competitive market where businesses compete on quality of the product and the value for money that consumers will receive”.
SmartDebit™ are the UK’s leading Direct Debit Bureau, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.
For the original version on PRWeb visit: http://www.prweb.com/releases/prwebsmartdebit/credit-debit-card-charges/prweb9974008.htm